Accentro Real Estate AG

Capital/Financing Update • May 30, 2012

News Details

Ad-hoc | 30 May 2012 10:36

ESTAVIS AG: ESTAVIS AG to issue convertible bonds of up to EUR 17.2 million

ESTAVIS AG / Key word(s): Issue of Debt

30.05.2012 10:36

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---

Berlin, 30 May 2012 - The Management Board of ESTAVIS AG today adopted a
resolution, with the consent of the company's Supervisory Board, to issue
up to 7,159,676 convertible bonds with a total nominal amount of up to EUR
17.2 million.

The bonds will be issued and redeemed at 100% of their nominal amount, i.e.
EUR 2.40 per bond, with interest coupons of 7.75% p.a. to be paid annually
on 25 June of each year. The final maturity of the bonds will be on 25 June
2017.

Under German securities law, the company's shareholders are entitled to
subscription rights. The subscription ratio will be 2:1, whereby
shareholders will be granted the right to purchase one bond of nominal
amount EUR 2.40 for each two existing shares held. The subscription period
is planned to run from 4 June to 18 June; trading of subscription rights is
not anticipated. Each bond entitles the holder to convert it into one
common share at a conversion price of EUR 2.40 at any time during the
period from 6 August 2012 until ten business days before bond redemption.

The formal subscription offer is scheduled for publication in the German
Federal Gazette (Bundesanzeiger) on 1 June 2012, with the terms and
conditions of the bond issue to be published on the ESTAVIS AG website
(www.estavis.de) on this same date.

The company's Management Board plans to substantially use the proceeds of
the bond issue to implement its new corporate strategy and to build a
high-return investment portfolio, as well as to optimise its existing
financial structure.

The transaction is being managed by Frankfurt investment bank Close
Brothers Seydler Bank AG as Sole Lead Manager and Sole Bookrunner.

About ESTAVIS:
ESTAVIS AG is a listed property company focusing on residential properties.
Through its purchasing network, which extends throughout Germany, ESTAVIS
AG identifies property portfolios with great value-added potential and uses
its management expertise to harness this potential efficiently. In addition
to the regular cash flows generated from its real estate holdings, ESTAVIS
delivers investment returns through revenues from privatization. ESTAVIS AG
is headquartered in Berlin and is listed on the Prime Standard of the
Frankfurt Stock Exchange (ISIN: DE000A0KFKB3 / WKN: A0KFKB).

Contact:
ESTAVIS AG
Investor & Public Relations
phone: + 49 30 887 181 799
e-mail: ir@estavis.de

30.05.2012 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: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Germany
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info@estavis.de
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

---