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AROUNDTOWN S.A. Aroundtown increases total buy-back volume to up to ?1 billion and resolves on public share purchase offer to buyback own shares

Directive transparence : information réglementée

01/09/2020 08:45

Aroundtown SA (IRSH)
Aroundtown increases total buy-back volume to up to €1 billion and resolves on public share purchase offer to buyback own shares

01-Sep-2020 / 08:45 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE AD-HOC RELEASE.

AROUNDTOWN INCREASES TOTAL BUY-BACK VOLUME TO UP TO €1 BILLION AND RESOLVES ON PUBLIC SHARE PURCHASE OFFER TO BUYBACK OWN SHARES

01 September 2020.

The board of directors of Aroundtown ('the Company' or 'AT') resolved today, in addition to its ongoing share buy-back program as announced on 2 June 2020 to execute a public share purchase offer of up to 165 million shares of the Company against payment of a purchase price in the range of €4.6 to €5.0 per share. The acceptance period will start on 3 September 2020 and end on 16 September 2020 (24:00 CEST). The public share purchase offer will run in parallel to the existing buy-back program and the volume of the entire share buy-back executed by the Company has been set at an amount of up to €1 billion. Further details on the share purchase offer will be published in the next days on the Company's website under the following link: https://www.aroundtown.de/investor-relations/equity/share/share-buyback/.

The decision to increase the volume of the share buy-back follows Aroundtown's successful disposal activity of which year-to-date €1 billion have been signed above book value. The opportunity to acquire its own shares at a significant discount to net asset value, fueled by disposals above book value, enable the Company to capitalize on the wide gap between the share price and actual market levels and the current operational performance of AT. The Company's conservative financial policy will be sustained under the buy-back program.

Aroundtown is currently in advance negotiations for disposals of over €1 billion, in addition to the signed €1 billion disposals year-to-date. The share buy-back program utilizes the shareholder authorization received during the OGM in the beginning of May 2020 and enables the Company to acquire up to 20% of the aggregate nominal amount of issued share capital.

About the Company

Aroundtown SA (symbol: AT1), trading on the Prime Standard of the Frankfurt Stock Exchange, is the largest listed and highest rated (BBB+ by S&P) German commercial real estate company. Aroundtown invests in income generating quality properties with value-add potential in central locations in top tier European cities mainly in Germany/NL.

Aroundtown SA (ISIN: LU1673108939) is a public limited liability company (société anonyme) established under the laws of the Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B217868, having its registered office at 40, Rue du Curé, L-1368 Luxembourg, Grand Duchy of Luxembourg.

Contact

Timothy Wright

T: +352 285 7741

E: info@aroundtown.de

www.aroundtown.de

IMPORTANT NOTICE

THIS RELEASE MAY NOT BE PUBLISHED, DISTRIBUTED OR TRANSMITTED IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. THIS RELEASE IS NOT DIRECTED TO OR INTENDED FOR DISTRIBUTION TO OR USE BY, ANY PERSON OR ENTITY THAT IS A CITIZEN OR RESIDENT OR LOCATED IN ANY LOCALITY, STATE, COUNTRY OR OTHER JURISDICTION WHERE SUCH DISTRIBUTION, PUBLICATION, AVAILABILITY OR USE WOULD BE CONTRARY TO LAW OR REGULATION OR WHICH WOULD REQUIRE ANY REGISTRATION OR LICENSING WITHIN SUCH JURISDICTION.

NEITHER THIS RELEASE NOR ITS CONTENT MAY BE PUBLISHED, DISPATCHED, DISTRIBUTED OR DISSEMINATED TO OR WITHIN THE UNITED STATES OF AMERICA, AND IN EACH CASE NEITHER BY MEANS OF UTILIZATION OF ANY POSTAL SERVICE NOR BY ANY OTHER MEANS OR INSTRUMENTS OF BUSINESS COMMUNICATION BETWEEN SINGLE STATES OR FOREIGN TRADE OR ANY FACILITIES OF A NATIONAL STOCK EXCHANGE OF THE UNITED STATES OF AMERICA. THIS INCLUDES, AMONG OTHERS, SUBMISSION BY FAX, ELECTRONIC POST, TELEX, TELEPHONE AND THE INTERNET. COPIES OF THIS RELEASE OR ANY OTHER DOCUMENTS RELATED TO THIS RELEASE MAY ALSO NOT BE DISTRIBUTED OR SUBMITTED TO OR WITHIN THE UNITED STATES OF AMERICA.

THESE MATERIALS DO NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF THE COMPANY IN THE UNITED STATES, GERMANY OR ANY OTHER JURISDICTION.

THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF AROUNDTOWN SA. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A NUMBER OF FACTORS.



ISIN: LU1673108939, XS1227093611, XS1336607715, XS1403685636, XS1449707055, XS1532877757, XS1540071724, XS1586386739, XS1649193403, XS1700429308, XS1715306012, XS1761721262, XS1815135352, XS1753814141, CH0398677689, XS1857310814
Category Code: POS
TIDM: IRSH
LEI Code: 529900H4DWG3KWMBMQ39
Sequence No.: 83257
EQS News ID: 1125803

 
End of Announcement EQS News Service

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