Brief: Noratis: Merz Real Estate Buys 29.4% Stake In Noratis

Noratis AG

20/03/2020 11:27

March 20 (Reuters) - NORATIS AG  NUVG.DE :
    * MERZ REAL ESTATE BECOMES NEW MAJOR SHAREHOLDER - CAPITAL
INCREASE PLANNED
    * MERZ REAL ESTATE ACQUIRES 29.4 % OF SHARES IN NORATIS AG
AND
BECOMES ITS LARGEST SHAREHOLDER
    * FURTHER CAPITAL MEASURES TO EXTEND SHAREHOLDING PLANNED
    * MERZ REAL ESTATE REACHED AGREEMENT TODAY WITH TWO
ESSENTIAL
SHAREHOLDERS OF NORATIS, INCLUDING CEO IGOR CHRISTIAN BUGARSKI,
TO BUY 1,057,650 OF THEIR SHARES AT A PRICE OF EUR 21.00
    * IGOR CHRISTIAN BUGARSKI WOULD REMAIN A SHAREHOLDER OF
NORATIS AG
WITH 8.0 %
    * MERZ REAL ESTATE UNDERTAKES TO INVEST UP TO EUR 50 MILLION
IN
NORATIS WITHIN FRAMEWORK OF INVESTOR AND FIXED SUBSCRIPTION
AGREEMENT BY END OF FISCAL 2024 THROUGH CAPITAL MEASURES
    * SHARE CAPITAL IS TO BE INCREASED FROM CURRENTLY EUR
3,601,897.00
TO EUR 3,854,422.00 THROUGH ISSUING OF 252,525 NEW NO PAR VALUE
SHARES
    * CAPITAL INCREASE CARRIED OUT TO EXCLUSION OF SUBSCRIPTION
RIGHT
    * NEW SHARES WILL BE ISSUED AT AN ISSUING PRICE OF EUR 19.80
PER
NEW SHARE
    * MERZ REAL ESTATE WILL BE ADMITTED ON AN EXCLUSIVE BASIS TO
SUBSCRIPTION AND TAKE-OVER OF ALL NEW SHARES
    * FINANCING OBLIGATION OF MERZ REAL ESTATE IS TO SUPPORT
PLANNED
PORTFOLIO GROWTH OF NORATIS AG
    * IT IS EXPECTED THAT NORATIS WILL IN SHORT TERM SELL LESS
PROPERTIES AND ACHIEVE A RESULT LIKELY TO BE SIGNIFICANTLY BELOW
PREVIOUS YEARS

Source text for Eikon:  ID:nEQ3t8s6ma 
Further company coverage:  NUVG.DE 

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