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Atrium European Real Estate Limited

EANS-Adhoc: Atrium European Real Estate Limited

  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.
Completion of Exchange Transaction
01.12.2009
Atrium European Real Estate Limited
Completion of Exchange Transaction
Payment of Special Dividend and implementation of dividend policy
Jersey, 1 December, 2009: Atrium European Real Estate Limited 
("Atrium" or the "Company") (ATX/Euronext: ATRS), a leading real 
estate company focused on shopping centre investment, management and 
development in Central and Eastern Europe, announces that further to 
its announcements of 3 September, 2 October and 24 November 2009, the
Exchange Transaction with Citi Property Investors ("CPI") and 
GazitGlobeLimited ("Gazit" and, together with CPI, the "Investors") 
has completed.
The Exchange Transaction The Company has now exchanged, and 
subsequently cancelled, the outstanding E427.9 million in principal 
amount of the 2008 Convertible Bonds, 4,933,333 Warrants and the 
outstanding 8,043 Special Voting Shares held by the Investors for an 
aggregate consideration of 144,853,705 new ordinary shares of the 
Company ("New Ordinary Shares") and approximately E9.3million in 
cash.  The Company now has 372,052,993 ordinary shares in issue and 
there are no Special Voting Shares in issue.
The New Ordinary Shares will rank pari passu with the Company's 
existing ordinary shares and application will be made for them to be 
listed on the Vienna Stock Exchange and NYSE Euronext Amsterdam.  It 
is expected that the New Ordinary Shares will be listed on both 
exchanges on 11December 2009. Dividend Timetable As a result of the 
completion of the Exchange Transaction, the Company announces that 
the timetable for the payment of the E0.50 Special Dividend and the 
E0.03 dividend relating to the fourth quarter of 2009, in accordance 
with the Company's proposed annual dividend policy of E0.12, payable 
quarterly, will be as follows:
Ex-dividend date:                                9 December 2009
Record date:                                    11 December 2009
Payment date - E0.50 Special Dividend:          17 December 2009
Payment date - E0.03 2009 dividend:             30 December 2009
Partial tender offer for the 2006 Notes A further announcement 
detailing the logistics and timings of the intended Partial Tender 
Offer will be made in due course, but it is expected that this 
process will commence in the first half of January 2010.
For further information:
Financial Dynamics:              +44 (0)20 7831 3113
Richard Sunderland / Laurence Jones
{Richard.sunderland@fd.com}[HYPERLINK: 
mailto:Richard.sunderland@fd.com]
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 September 2009 the Group owned 
152 standing investments, with a market value of E1.46 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 E706 million as at 30 September 2009.
Gross rental income from investment properties for the year ended 31 
December 2008 was E134 million and E117million for the first nine 
months of 2009. Net rental income for the year to 31 December 2008 
amounted to E95million and E89 million for the nine months to 30 
September 2009. As at 30 September 2009, the Company had a cash 
position of E814 million against borrowings of E1.07 billion.
Following a strategic investment of E500 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 Ltd. 
(TASE:GLOB), which has extensive global experience of all aspects of 
the real estate industry and is one of the largest, developers, 
owners and operators 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.
end of announcement                               euro adhoc

Further inquiry note:

For further information:

Financial Dynamics:
+44 (0)20 7831 3113
Richard Sunderland
Laurence Jones
atrium@fd.com

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

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