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Warimpex Finanz- und Beteiligungs AG

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

  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.
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
• 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
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
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) ("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.
end of announcement                               euro adhoc

Further inquiry note:

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

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

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