Warimpex Finanz- und Beteiligungs AG

EANS-Adhoc: Warimpex Finanz- und Beteiligungs AG
Warimpex successfully completes capital increase

@@start.t1@@--------------------------------------------------------------------------------   ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide   distribution. The issuer is solely responsible for the content of this   announcement. --------------------------------------------------------------------------------@@end@@

11.05.2010

Not for distribution in the USA, Canada, Australia and Japan.
                 This is neither an offer nor a solicitation to buy shares.

Warimpex successfully completes capital increase

@@start.t2@@• 14,400,001 new ordinary bearer shares issued  at  final  subscription  and
         offer price of EUR 2.00

      • Net proceeds of approximately EUR 26 million

      • Offer almost double subscribed/Backstop not exercised@@end@@

Vienna, 11 May 2010 - In  a  difficult  environment  on  the   financial  markets Warimpex Finanz- und  Beteiligungs   Aktiengesellschaft  (Warimpex)  successfully completed its capital   increase  by  placing  14,400,001  new  ordinary  shares, representing  approximately  36%  of  the  existing  share  capital. The  final subscription and offer price has been set by way of a bookbuilding procedure  at EUR 2.00 per new share,  and  the  final   volume  of  the  capital  increase  at 14,400,001 new ordinary bearer shares. Gross proceeds  amount  to  approximately EUR 28.8 million   and,  after  deduction  of  costs,  expenses  and  taxes,  net proceeds amount to approximately EUR 26 million. Warimpex  intends   to  use  the net proceeds primarily to finance ongoing projects  and to  refinance  existing short-term loans and to cover outstanding liabilities.

Wood&Company Financial Services, a.s. acted as Lead Manager and   Bookrunner  and Raiffeisen Centrobank AG acted as  Co-Lead  Manager   and  Co-Bookrunner  of  the combined offering.

Strong demand by Polish institutional investors/Backstop not exercised

"Despite challenging conditions on the financial markets the  offer   was  almost double subscribed  and  the  new  shares  were   subscribed  and  placed  without exercising  the  backstop   commitment  by    Ringturm    Kapitalanlagegesellschaft m.b.H.", says Warimpex-CEO Franz Jurkowitsch.

Due to strong demand from Polish institutional investors, Warimpex'   shareholder base could be broadened. Moreover, free float  was   increased  to  approximately 45% thereby supporting the  liquidity   of  the  shares  on  the  stock  markets. Principal shareholders retain approximately 49% of the total shares.

Flexibility for future success secured

Warimpex intends to use the net proceeds from the capital increase primarily  to finance ongoing  projects  such  as  the  development   of  the  Airportcity  St. Petersburg project (Crowne Plaza  Hotel   and  office  complex),  the  Le  Palais office building in Warsaw and the  joint  venture  with  Starwood  Capital  and Louvre Hotels to develop budget hotels in Central and Eastern Europe as well  as for the optimization of the current financing  structure.  "Using  the   proceeds from the capital increase we will push existing projects forward while  assuring flexibility and prompt reaction to market developments", says Jurkowitsch.

Details of the capital increase

The combined offering consisted of a rights offering  to  existing   shareholders at a subscription ratio of 4 new shares for  every  11   existing  shares  and  a global offering of new shares not subscribed for  in  the  rights  offering  by means of a public offering in   Poland,  and  a  private  placement  to  selected institutional investors outside of Poland and the United States of America.

The  share  capital  of  Warimpex  will  be  increased  from   EUR 39,599,999  by EUR 14,000,001 to EUR 54,000,000, divided into 54,000,000  new  ordinary  bearer shares with a calculated notional amount of the share capital of EUR  1.00  each and all shares are entitled to full dividends for the 2009  financial  year  and the following years.

The new shares are expected to commence trading in the prime market   segment  of the Vienna Stock Exchange on 14 May 2010 and expected to be listed on  the  main market of the Warsaw Stock Exchange  on  or   about  14  May  2010.  Payment  and delivery is also expected to take place on 14 May 2010.

Warimpex Finanz- und Beteiligungs Aktiengesellschaft (Warimpex)

Warimpex is a real estate development and investment company  with   headquarters in Vienna and offices in Budapest, Prague, St. Petersburg and  Warsaw.  Warimpex currently owns or co-owns 21 business and luxury hotels  with  more  than  5,000 rooms as well as five commercial and office buildings with a total  floor  space of approximately 32,000 m² mainly in Central and  Eastern  Europe.   Warimpex  is listed under WXF on the Vienna and Warsaw Stock Exchanges.

Legal disclaimer

This ad-hoc release constitutes neither an offer to sell nor a   solicitation  to buy any securities of Warimpex Finanz- und Beteiligungs Aktiengesellschaft.  The securities have already been sold.

This ad-hoc release is not being issued in the  United  States  of   America  and must not be distributed to  publications  with  a   general  circulation  in  the United States. This press release does not constitute an offer or invitation  to

@@start.t3@@purchase  any  securities  in  the  United  States,  Austria,    or    any    other
jurisdiction.    The    securities    of    Warimpex    Finanz-    und      Beteiligungs
Aktiengesellschaft have not been registered under the  Securities  Act  and  may
not be offered, sold or delivered within the United States  absent  registration@@end@@

under or an applicable exemption  from  the  registration   requirements  of  the United States securities laws.

This ad-hoc release is directed only at persons (i) who are outside   the  United Kingdom or  (ii)  who  have  professional  experience  in matters  relating  to investments falling within Article 19(5) of the Financial Services  and  Markets Act 2000 (Financial Promotion) Order 2005 (as amended) ("Order")  or  (iii)  who fall within Article 49(2)(a) to (d) ("high net worth  companies,  unincorporated associations etc.") of the Order (all such persons together  being   referred  to as "Relevant Persons"). Any person who is not a Relevant Person must not act  or rely on this communication or any of its contents. Any investment or  investment activity to which this communication  relates  is  available  only  to  relevant persons and will be engaged in only with Relevant Persons.

@@start.t4@@end of announcement                                                 euro adhoc
--------------------------------------------------------------------------------@@end@@

ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Warimpex Finanz- und Beteiligungs Aktiengesellschaft
Tel: +43 (1) 310 55 00
Christoph Salzer
e-mail: presse@warimpex.com
Daniel Folian
e-mail: investor.relations@warimpex.com

Branche: Real Estate
ISIN:      AT0000827209
WKN:        
Index:    ATX Prime
Börsen:  Wien / official market



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