Tous Actualités
Suivre
Abonner Atrium European Real Estate Limited

Atrium European Real Estate Limited

euro adhoc: Atrium European Real Estate Limited
other
CLOSING OF EQUITY FUND RAISING AND RELATED ARRANGEMENTS

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
30.01.2009
CLOSING OF EQUITY FUND RAISING AND RELATED ARRANGEMENTS
Jersey, January 30, 2009:  Atrium European Real Estate Limited 
("Atrium" or the "Company") (ATX: ATR), one of the leading real 
estate companies focused on shopping centre investment management and
development in Central and Eastern Europe, announces that it has 
closed the new equity fund raising and related arrangements with Citi
Property Investors and its investors ("CPI") and Gazit- Globe Limited
("Gazit" and, together, the "Investors").
This equity fund raising raised EUR 72.1 million of new equity which,
together with the related arrangements, reduces the Company's 
aggregate indebtedness by approximately EUR 175 million in principal 
amount and reduces the equity overhang of the outstanding warrants to
subscribe for the Company's shares from 30 million to approximately 5
million.
The Company issued 10,300,000 new ordinary shares to the Investors in
aggregate at a price of EUR 7 per share.  CPI acquired 4,738,000 
shares and Gazit acquired 5,562,000 shares.  The subscription price 
was paid by the transfer to the Company of convertible bonds in an 
aggregate principal amount of EUR 72,100,000.  The voting rights 
attaching to the Company's special voting shares have been reduced 
proportionately to reflect the reduction in the outstanding aggregate
principal amount of convertible bonds held by the Investors to EUR 
427,900,000.
In addition, the Investors delivered 25,066,667 existing warrants to 
subscribe for ordinary shares (out of a total of 30 million such 
warrants issued to the Investors on August 1, 2008) to the Company.  
These 25,066,667 warrants have been cancelled for nil consideration.
The Company has also acquired from Gazit approximately EUR 103 
million in principal amount of the Company's 2006 listed medium term 
notes (ISIN XS0263871328).  The notes were acquired by the Company 
for a cash amount equal to the aggregate of the prices paid for them 
in the open market (including dealing costs) by Gazit (which in 
aggregate was EUR 77.26 million) plus accrued interest on the notes 
to the date of purchase by the Company.
As a result of the subscription for the new shares and transfer of 
the convertible securities, the Investors and their affiliates are in
aggregate interested in securities of the Company carrying 28.46 per 
cent. of the Company's outstanding voting rights.
For further information:
Financial Dynamics:                                +44 (0)20 7831 
3113 Richard Sunderland Stephanie Highett Laurence Jones  
Richard.sunderland@fd.com
end of announcement                               euro adhoc

Further inquiry note:

Financial Dynamics, London
Stephanie Highett / Richard Sunderland
Phone: +44 (0)20 7831 3113
mailto:richard.sunderland@fd.com

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Continous
Börsen: Wiener Börse AG / official market

Plus de actualités: Atrium European Real Estate Limited
Plus de actualités: Atrium European Real Estate Limited