Warimpex Finanz- und Beteiligungs AG

EANS-Adhoc: Warimpex Finanz- und Beteiligungs AG
Warimpex announces launch of 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@@


Warimpex announces launch of capital increase


Vienna, 21 April 2010

@@start.t2@@|Offering                 |Rights issue and global offering of up to 14,400,001    |
|                              |new shares, corresponding to 36.4 percent of the          |
|                              |current share capital                                                      |
|Maximum                  |EUR 2.80                                                                          |
|Subscription and    |                                                                                        |
|Offer Price            |                                                                                        |
|Final Subscription |to be determined after expiration of the subscription  |
|and Offer Price      |and offer period by way of a bookbuilding procedure on |
|                              |or around 11 May 2010.                                                    |
|Subscription and    |from 26 April 2010 until on/or about 10 May 2010          |
|Offer Period          |                                                                                        |
|Start of Trading    |on/or about 14 May 2010                                                  |
|Subscription Ratio |4 new shares for every 11 existing Shares                      |
|(Rights Offering)  |                                                                                        |
|Bookrunners            |Lead Manager & Bookrunner: WOOD & Company Financial      |
|                              |Services, a.s.                                                                 |
|                              |Co-Lead Manager & Co-Bookrunner: Raiffeisen Centrobank |
|                              |AG                                                                                    |

      • Warimpex Finanz- und Beteiligungs Aktiengesellschaft (Warimpex)  announces
         the launch of a capital increase. With the supervisory  board´s  approval,
         the managing Board of Warimpex has decided to issue up to  14,400,001  new
         shares, corresponding to  36.4  percent  of  the  current  share  capital,
         through a combined offering, consisting of a rights offering  to  existing
         shareholders and global offering of new shares not subscribed for  in  the
         rights offering.
      • The new shares  will  be  offered  in  the  rights  offering  to  existing
         shareholders at a ratio of 4 new shares for every 11 existing shares  held
         as of 23 April 2010.The record date for shares listed on the Warsaw  Stock
         Exchange is 23 April 2010.  The  global  offering  consists  of  a  public
         offering in Poland, and a  private  placement  to  selected  institutional
         investors outside of Poland and the United  States  of  America.  The  new
         shares will be offered at the same price in the rights  offering  and  the
         global offering.
      • Subscription period: 26 April 2010 to on/or about 10 May 2010;  first  day
         of trading: on/or about 14 May 2010. There will be no rights trading.
      • The maximum subscription and offer price has been set  at  EUR  2.80.  The
         final subscription and  offer  price  will  be  determined  by  way  of  a
         bookbuilding  procedure  and  will  be  fixed  after  expiration  of    the
         subscription and offer period on/or about 11 May 2010.
      • As part  of  the  combined  offering,  Ringturm  Kapitalanlagegesellschaft
         m.b.H. (Ringturm), the fund management company of  Erste  Bank  group  and
         Vienna Insurance Group (VIG), has entered into an agreement with  Warimpex
         pursuant to which it has committed to submit  an  order  in  the  combined
         offering for 7.2 million new shares of Warimpex at a  price  corresponding
         to the closing price of the shares on the  Vienna  Stock  Exchange  on  23
         April 2010 minus a discount of 12.5% but in any event  no  more  than  EUR
         2.00 per new share. As consideration, Ringturm shall receive from Warimpex
         an up-front commitment fee. VIG is a  long  term  cooperation  partner  of
         Warimpex in various projects in CEE.
      • As compensation for arranging the backstop  commitment  by  Ringturm,  and
         subject to completion of the combined offering, Warimpex  has  granted  to
         VIG an option for 24 months to either, at VIG's discretion,  (i)  purchase
         up to 1,440,000 shares of Warimpex against payment of a price equal to the
         subscription and offer price determined in the combined offering  or  (ii)
         demand a cash settlement of such option arrangement.
      • Assuming that all  14,400,001  shares  will  be  placed  in  the  combined
         offering, Warimpex´ share capital will amount to EUR 54 million.
      • WOOD &  Company  acts  as  Lead  Manager  and  Bookrunner  and  Raiffeisen
         Centrobank acts as Co-Lead  Manager  and  Co-Bookrunner  of  the  combined
      • Warimpex intends to use approximately 50% of the  net  proceeds  from  the
         combined offering to finance existing projects such as the development  of
         the Airportcity St. Petersburg development project (Crowne Plaza Hotel and
         office complex), the Le Palais office building in Warsaw as  well  as  the
         joint venture with Starwood Capital and Louvre Hotels  to  develop  budget
         hotels in Central  and  Eastern  Europe.  Approximately  50%  of  the  net
         proceeds are to be used for the refinancing of existing  short-term  loans
         and the payment of outstanding liabilities. "With this step we are  taking
         advantage of the currently positive sentiment on financial markets and the
         slight upturn since the second half of 2009 in the  early  cyclical  hotel
         industry. This capital increase is based on the authorization  granted  at
         the extraordinary general meeting in October 2009. Our main  objective  is
         to ensure flexibility and prompt reaction to  market  developments",  says
         Warimpex CEO Franz Jurkowitsch.
      • 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  approx.  32,000  m²  mainly  in  Central  and
         Eastern Europe. Warimpex is listed under WXF  on  the  Vienna  and  Warsaw
         Stock Exchanges.

This ad-hoc release constitutes neither an offer to sell nor a  solicitation  to
buy any securities of Warimpex Finanz- und Beteiligungs Aktiengesellschaft.
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
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
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) (the  "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. Information on the offering will be included in  the  prospectus  which
will be available on the website of the Warsaw Stock Exchange www.gpw.com.pl.@@end@@

@@start.t3@@end of announcement                                                 euro adhoc

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

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
Christoph Salzer
Daniel Folian, mailto:investor.relations@warimpex.com

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

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