Atrium European Real Estate Limited

EANS-Adhoc: Atrium European Real Estate Limited
Intention to hold EGM

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Atrium European Real Estate Limited
                                                    (the "Company")

Intention to hold EGM

Jersey, 17 September 2009. Atrium European Real  Estate  Limited   (Euronext/ATX: ATRS), a leading real estate company  focused  on   shopping  centre  investment, management and development in Central and Eastern Europe, announces today  that, further to its announcement of 3 September 2009, it will hold  an  extraordinary general meeting ("EGM") on 2 October 2009 at 12 noon (Jersey/UK time) at  Hotel de France, St. Saviour's Road, St. Helier, Jersey JE1 7XP.

The Company  will  today  publish  a  circular  ("Circular")   providing  further details of the proposed resolutions and the EGM, as  well  as  other  supporting documentation including proxy forms, all of  which  will  be  available  on  the Company's website (

At the EGM, the Company  will  seek  approval  from  its   shareholders  on  four proposed resolutions which relate to the package of proposals announced  by  the Company on 3 September  2009 regarding  a  debt  repurchase,  equity  issuance, corporate governance measures and new dividend  policy.    The  Company   believes that the package of proposals will bring significant   benefits  to  the  Company and its shareholders and will put it in a strong position  from  which  to  grow and take advantage of current market  opportunities.    Further  details  of  the expected benefits of the proposals can be found  in  the  Circular  and  in  the Company's announcement of 3 September  2009.    The  Board  and  its   independent committee recommend that shareholders vote in favour of the resolutions.

The four resolutions for which the Company is seeking shareholder   approval  are as follows: (i)    to  amend  its  articles  of   association,  including  to  extend  certain shareholder rights, to terminate the existing rights of CPI CEE  Management  LLC and  Gazit Midas  Limited  (together  with  their  respective  affiliates,  the "Investors") to appoint certain directors and to replace them  with   new  rights dependent on their holding of ordinary shares; (ii)  to make the Company a no par value company which is not limited as to   the number of shares it may be authorised to issue and to facilitate the payment  of dividends by the Company; (iii) to approve the reduction of the Company's stated capital by the amount  of the proposed payment of a special dividend of EUR0.50 and by  the  amount of the proposed payment of an annual dividend of EUR0.12; and (iv)   to authorise the Company  to  make  market  purchases  up  to  50   million ordinary shares and therefore replace the existing authority to  acquire  up  to 50 million of the Austrian depositary certificates  representing  the  Company's ordinary shares, now that the ordinary shares are  listed  on  both  the  Vienna Stock Exchange and Euronext Amsterdam.

Expected timetable of events

The expected timetable of events as set out in the circular is as follows:

Last time for account holding banks  or  brokers  to  return  (via  
an  admitted institution) to Kempen & Co N.V. proxy forms of persons
holding ordinary  shares of their intention to attend and/or vote at
the EGM:          4.30 p.m. (Amsterdam time/ C.E.T.) on 28 September

Last time for submission by holders of Special Voting Shares of proxy forms  to the Company:

12 noon (Jersey time) on 30 September 2009

         12 noon (Jersey time) on 2 October 2009

Closing of the Exchange Transaction (subject to the obtaining  of  
the  relevant shareholder approvals and anti-trust clearances)
("Closing"):          During the fourth quarter of 2009

Record date for the special dividend of EUR0.50 per ordinary share:
         The first business day following Closing

Payment date for the special dividend:          Within 30 business days
of Closing (conditional, among  other  things,  on Closing)

Commencement of payment of instalments of  the  annual  dividend  of
EUR0.12 per ordinary share:          During the fourth quarter of 2009
(conditional,  among  other  things,  on Closing)

Launch of the proposed partial tender offer  for  the  notes  issued
under  the Company's 2006 Medium Term Note Programme:          Following

The above dates are subject to change.


For further information:
Financial Dynamics:                                                         +44 (0)20 7831 3113
Richard Sunderland@@end@@

Laurence Jones Stephanie Highett

Atrium is established as a closed-end investment company  domiciled   in  Jersey. Atrium is registered with the Dutch Authority for the   Financial  Markets  as  a collective investment scheme which may offer participations in  The  Netherlands pursuant  to  article  2:66 of  the  Financial  Supervision  Act  (Wet  op  het financieel toezicht). All investments are subject to risk. Past  performance  is no guarantee of future returns. The value of investments may fluctuate.  Results achieved in the past are no guarantee of future results. About Atrium European Real Estate Limited

Atrium is a leading real estate company focused on shopping  centre   investment, management and development in Central and Eastern Europe. As  at  30  June  2009 the Group owned 152 standing investments, with a market value of EUR1.49 billion, diversified across eight countries with a  total  gross  lettable  area  of  1.1 million sqm.   Geographically, the Group's focus is principally concentrated  in Poland, the Czech Republic and Russia  with  a  presence  in Hungary, Romania, Slovakia, Latvia  and  Turkey.  In  addition,  the  Company has  a  development portfolio including several development projects with a market  value  of  EUR712 million as at 30 June 2009.

Gross rental income from investment properties for the year  ended   31  December 2008 was EUR134 million and EUR75 million for the first half of  2009.    Net rental income for the year to 31 December 2008 amounted to EUR95 million and EUR59  million for the six months to 30 June 2009.  As at 30 June 2009, the Company had a  cash position of EUR855 million against borrowings of EUR1.08 billion.

Following a strategic investment of EUR500 million by a  Citi   Property Investors and Gazit Globe Ltd joint venture, agreed in   August  2008,  Rachel Lavine  was appointed Chief Executive Officer   of  Atrium.  Rachel  Lavine  has significant experience of both real estate and the CEE region and was previously  President and CEO of Plaza Centres.  The Board is chaired by  Chaim Katzman,  founder  of Gazit Globe, which has extensive global experience  of real  estate   management and is one of the largest owners of shopping centres in the world.

The Company is based in Jersey and  dual  listed  on  the  Vienna   and  Euronext Amsterdam Stock Exchanges under the ticker ATRS.

@@start.t3@@Ende der Mitteilung                                                 euro adhoc

ots Originaltext: Atrium European Real Estate Limited
Im Internet recherchierbar:

Further inquiry note:
Financial Dynamics, London
Richard Sunderland  / Laurence Jones
Phone: +44 (0)20 7831 3113

Branche: Real Estate
ISIN:      JE00B3DCF752
Index:    Standard Market Continous
Börsen:  Wien / official market

Weitere Meldungen: Atrium European Real Estate Limited

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