029 Group SE

Share Issue/Capital Change • May 24, 2002

News Details

Ad-hoc | 24 May 2002 08:01

B&L Immobilien AG english

B&L Immobilien AG confirms capital increase Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– B&L Immobilien AG confirms capital increase Hamburg, May 24, 2002 – The Management Board of B&L Immobilien AG today adopted a resolution to raise share capital from its authorized capital. The decision was approved by the Supervisory Board. The resolution calls for the issue of up to 4,366,268 new shares. The major shareholders (Mr. A. Büll, A. Büll Vermögensverwaltung GmbH and Dr. Liedtke Vermögensverwaltung GmbH) waive their subscription rights with respect to 3,873,424 shares and transfer the respective subscription rights to the banking syndicate for the bookbuilding process. The company aims to achieve a free float of around 40%, including the standard greenshoe option. The subscription rights offer will be announced on June 1, 2002. The subscription period is based on the legally prescribed period of two weeks as well as the simultaneous bookbuilding process. The syndicate consists of Societe Generale and WestLB Panmure, who will act as joint lead managers and joint bookrunners. Hamburgische Landesbank will act as co-manager. Further details on the share offering are contained in the preliminary prospectus, which is soon to be published. end of ad-hoc-announcement (c)DGAP 24.05.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: B&L Immobilien AG is listed for official trading on the German stock exchange. The company’s object is the management, development, buy and sell of shopping malls as well as office and residential properties. The company covers the entire real estate value chain. In 2001 the company acquired an equity stake in the two residential companies LEG Schleswig-Holstein Landesentwicklungsgesellschaft mbH and Heimstätten Gesellschaft mbH Lübeck (HGL) with more than 22,000 units in total. In fiscal year 2001 B&L Immobilien AG posted an earning of 18.8 million euros (EBDT) and consolidated net income of 11.9 million euros from total sales and operating revenues of 57.9 million euros. Should you require further details, please contact: Dr. Hans Hellberg B&L Immobilien AG Kajen 12 D-20459 Hamburg Tel: +49 (40) 37 660-0 Fax: +49 (40) 37 660-111 contact@bl-ag.de http://www.bl-ag.de ——————————————————————————– WKN: 765950; ISIN: DE0007659500; Index: Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin und München 240801 Mai 02