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Business news for the stock market

S IMMO AG: Offer period of S IMMO AG’s attractive partial offer to shareholders of IMMOFINANZ AG extended

Vienna (pta016/17.01.2022/12:00) - As announced on 12 December 2021, S IMMO AG ("S IMMO") has launched a voluntary partial offer of EUR 23.00 per share to the shareholders of IMMOFINANZ AG ("IMMOFINANZ") for approximately 10% of the share capital of IMMOFINANZ.

Following the publication of the offer document by CPI Property Group ("CPI") on 12 January 2022, the acceptance period of the S IMMO offer is extended by law until 23 February 2022 (17:00 CET) to match the acceptance period of the competing offer by CPI while all other terms and conditions as published on 23 December 2021, remain unchanged.

"Our offer represents an attractive liquidity event for IMMOFINANZ shareholders based on a premium of approximately 23.4% to the 12-months VWAP, 12.9% to the 6-months VWAP and 7.7% to the last closing price at time of announcement", Bruno Ettenauer, CEO of S IMMO AG, commented.

Furthermore, the partial offer by S IMMO provides a premium of approximately 8.5% to the price of EUR 21.20 per share offered by CPI in its anticipatory mandatory takeover offer announced on 12 December 2021. In contrast to CPI’s Offer, S IMMO’s Offer is also not subject to merger clearance by competition authorities.The price offered by S IMMO represents a premium of 19.2% and of 8.5% respectively, compared to prices paid by CPI acquiring two large shareblocks of IMMOFINANZ in off-market transactions directly preceding the announcement of the offer in December 2021. The size of these acquired shareblocks in each case exceeded the size of S IMMO’s current offer.

The total number of shares tendered into any of the two offers will be published shortly after the end of the acceptance period. On the day of publication, the additional acceptance period of CPI’s offer of 3 months will commence. There is no additional acceptance period for the S IMMO offer. IMMOFINANZ shareholders who wish to opt for the more attractive partial offer of S IMMO at the higher offer price will therefore continue to have the opportunity to tender any shares not served in the partial offer into the CPI offer during the additional acceptance period of the CPI Offer after the expiry of the S IMMO Offer.

Holders of the IMMOFINANZ Convertible Bonds 2017 will be eligible to tender into the partial offer under the condition that bonds have been converted and new shares delivered before the end of the acceptance period.

emitter: S IMMO AG
Friedrichstraße 10
1010 Wien
contact person: Elisabeth Wagerer
phone: +43 1 22795-1120
stock exchanges: official trade in Vienna
ISIN(s): AT0000652250 (share)
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