GSW Immobilien AG

EANS-News: GSW Immobilien AG
GSW successfully completes capital increase

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Capital measures/Capital increase


Berlin (euro adhoc) - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS NOT FOR
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN

GSW successfully completes capital increase

* Existing shareholder subscription quota amounts to 99.72 %
* New shares are fully entitled to dividends for the 2011 fiscal year
* Gross issue proceeds of approximately EUR 201.8 million
* Successful capital increase ensures future growth and financial flexibility

Berlin, May 3, 2012 - GSW Immobilien AG successfully completed its capital
increase against cash contributions with indirect subscription rights for
existing shareholders as resolved by the Company on April 17, 2012. The existing
shareholders purchased 99.72 % of the offered new shares at a subscription price
of EUR 21.30 per share. The remaining new shares, for which subscription rights
were not exercised, were sold on the stock exchange.

Thomas Zinnöcker, Chairman of the Board of Management, was very pleased: "The
successful placement and the wide acceptance by our shareholders show that the
capital market appreciates the stability and continuity of GSW's business model.
Our business model combines sustained growth with an attractive dividend policy.
The additional equity capital enables us to further advance this strategy and to
let our shareholders participate in the Company's performance."

With the entry of the implementation of the capital increase in the commercial
register (Handelsregister) on April 27, 2012, the Company's registered share
capital (Grundkapital) has increased from EUR 41,042,630 by EUR 9,473,684 to EUR
50,526,314 against cash contributions through the issue of 9,473,684 new
ordinary bearer shares. The new shares each carry full dividend rights as of
January 1, 2011. As of today, May 3, 2012, the new shares have been included in
the existing listings of the Company on the regulated markets of the Frankfurt
and Berlin Stock Exchanges.

The Company received gross issue proceeds of approximately EUR 201.8 million
from the capital increase. GSW intends to use the net issue proceeds of
approximately EUR 190.3 million for future acquisitions and to optimise its
strategic and financial flexibility. 

Berenberg Bank, BofA Merrill Lynch and Deutsche Bank acted as Joint Global
Coordinators and Joint Bookrunners in the capital increase. Kempen & Co. and
UniCredit Bank AG acted as Joint Lead Managers in the capital increase.

Contact
GSW Immobilien AG
Charlottenstraße 4
10969 Berlin, Germany


Press                                                   
Thomas Rücker                                   
E-Mail: thomas.ruecker@gsw.de
Tel.:   +49. (0) 30. 25 34-13 32
Fax:    +49. (0) 30. 25 34-19 34        


Investor Relations
Sebastian Jacob

E-Mail: sebastian.jacob@gsw.de
Tel.:   +49. (0) 30. 25 34-18 82
Fax:    +49. (0) 30. 25 34- 233 1960



Key data of the capital increase by subscription rights at a glance:
Subscription price: EUR 21.30; Subscription ratio 99.72 %; Number of new shares:
9,473,684; Gross issue proceeds: approx. EUR 201.8 million; Net issue proceeds:
approx. EUR 190.3 million; Stock exchanges: Frankfurt Stock Exchange (prime
standard) and Berlin Stock Exchange; ISIN DE000GSW1111 WKN GSW111; Syndicate
banks: BofA Merrill Lynch, Berenberg Bank and Deutsche Bank (Joint Global
Coordinators and Joint Bookrunners) and Kempen & Co. and UniCredit Bank AG
(Joint Lead Managers); Lock-up: 6 months for Company with respect to new capital
measures, 3 months for members of the Company's Board of Management and
Supervisory Board member Dr Jochen Scharpe, subject to certain exceptions. 

About GSW
GSW Immobilien AG is a leading privately-owned residential real estate company
operating in Berlin, with a portfolio of approximately 53,000 apartments. In
addition, a subsidiary of GSW manages approximately 17,500 residential units for
third parties. GSW's strategy focuses on the long-term rental management of
residential property via a systematic approach, which aims to increase customer
satisfaction and operational efficiency. GSW employed approximately 581
employees on average in 2011. As of December 31, 2011, the Company's property
portfolio was valued at approximately EUR 2.9 billion.

Disclaimer:
This press release does not contain or constitute an offer of, or the
solicitation of an offer to buy or subscribe for, securities to any person in
Australia, Canada, Japan, or the United States of America or in any jurisdiction
to whom or in which such offer or solicitation is unlawful. The securities
referred to herein may not be offered or sold in the United States of America
absent registration under the U.S. Securities Act of 1933, as amended (the
"Securities Act") except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act. Subject to
certain exceptions, the securities referred to herein may not be offered or sold
in Australia, Canada or Japan or to, or for the account or benefit of, any
national, resident or citizen of Australia, Canada or Japan. The offer and sale
of the securities referred to herein has not been and will not be registered
under the Securities Act or under the applicable securities laws of Australia,
Canada or Japan. There will be no public offer of the securities in the United
States of America.

This press release is only for informational purposes and is not a prospectus.
Investors should not purchase or subscribe for any shares referred to in this
announcement except on the basis of information in the prospectus prepared by
the Company, approved by the German Financial Supervisory Authority (BaFin) and
published in connection with the offering of such shares. Copies of the
prospectus are available free of charge from GSW Immobilien AG, Charlottenstr.
4, D-10969 Berlin, Germany or on GSW Immobilien AG's website (www.gsw.de).


Further inquiry note:
Sebastian Jacob
Tel.: +49 30 25 34- 18 82
E-Mail: sebastian.jacob@gsw.de

end of announcement                               euro adhoc 
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company:     GSW Immobilien AG
             Charlottenstr. 4
             D-10969 Berlin
phone:       +49 30 68 99 99 0
FAX:         +49 30 68 99 99 999
mail:     kundenservice@gsw.de
WWW:      http://www.gsw.de
sector:      Real Estate
ISIN:        DE000GSW1111
indexes:     MDAX
stockmarkets: regulated dealing: Berlin, regulated dealing/prime standard:
             Frankfurt 
language:   English
 



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