TAG Immobilien AG improves capital structure and increases NAV by EUR 0.30 through a capital increase at the level of Colonia Real Estate AG
TAG Immobilien AG / Key word(s): Corporate Action25.08.2011 / 15:50---------------------------------------------------------------------Hamburg, 25 August 2011 - TAG Immobilien AG ('TAG' in the following), isbringing a large part of the EUR 75 million general credit line agreementwith Colonia Real Estate AG ('Colonia' in the following) into Colonia(debt-equity swap). This measure is taken with a view to Colonia's need torefinance arising from the convertible bond 2006/2011 due for repayment on7 December 2011, and serves to decrease the interest burden as well asenable the drawing of further shareholder loans from the general creditline approved by TAG.The Colonia Real Estate AG Management Board today decided, with theapproval of the Su-pervisory Board, to use the approved capital to increaseColonia's share capital from cur-rently EUR 32,994,633 by 11,384,010shares, through a capital increase. This capital meas-ure leads to anequity increase at TAG Group level by up to approx. EUR 20 million, and aEUR 0.30 increase in the Net Asset Value (NAV) per TAG share. At the sametime, this in-creases TAG's holdings in Colonia to approx. 70 percent.'This step is mutually beneficial for both companies, as it allows us tooptimise the capital structure at TAG level while also increasing the NAV.At the same time Colonia improves its balance sheet structure and opens upfurther options for refinancing,' says Rolf Elgeti, CEO of TAG ImmobilienAG.End of Corporate News---------------------------------------------------------------------25.08.2011 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language: English Company: TAG Immobilien AG Steckelhörn 5 20457 Hamburg Germany Phone: 040 380 32 300 Fax: 040 380 32 390 E-mail: ir@tag-ag.com Internet: www.tag-ag.com ISIN: DE0008303504 WKN: 830350 Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 136977 25.08.2011
