ADLER Real Estate AG

Share Issue/Capital Change • Jul 18, 2006

News Details

Corporate | 18 July 2006 18:34

Adler Real Estate AG: Adler Real Estate AG completely places capital increase

Corporate news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Gross issuing proceeds are 14,000,000 Euro – course set for further growth Frankfurt, July 18th 2006 – ADLER Real Estate AG, a real estate company in Hamburg, specialized in the business fields of portfolio management, project development, asset management, and structuring of closed property funds was able to completely place their capital increase announced on June 27, 2006 with well-known institutional investors and private shareholders. The capital increase from the authorized capital stock will increase the company’s capital stock from a current 10,000,000 EUR by as much as 5,000,000 EUR to 15,000,000 EUR. The subscription period for this offer ended on July 14, 2006. The capital increase, accompanied by the investment banks Dresdner Kleinwort and Hypovereinsbank, was of large interest and was completely placed with well-known institutional investors and private shareholders. ADLER Real Estate AG obtained gross issuing proceeds in the amount of 14,000,000 EUR. The registration in the trade register of the register court in Frankfurt has been done today. The new shares will be entitled to dividends as of January 2006 and were offered to the company’s shareholders in the ratio 2:1 for a price of 2.80 EUR per share. ‘We are very happy about the large interest in the shares of the capital increase. We were already able to convince our shareholders about this strategic and for the company important step at our extraordinary shareholder’s meeting in April of this year’, said Barbara Yaltrak, board member. ‘The capital increase provides us with the financial flexibility to realize our planned projects and to further strengthen our company’, adds Barbara Yaltrak. In spite of a difficult market situation, the company was able to completely place the corporate action and thus, obtained the largest possible injection of funds. Particularly the existing shareholders showed their large financial interest. The complete placement of the shares demonstrates the capital market’s trust in the new management of the company, in place since 2005. ADLER Real Estate AG has seven properties in large German cities with a total area of more than 24.7 acres. In the Netherlands, the company participates together with a joint venture partner in the amount of 15% on the development of an important project on an area in the vicinity of the airport in Amsterdam, Schiphol. The proceeds from the capital increase will be mainly invested in the business fields of project development and portfolio extension. ‘The successful implementation of the capital increase gives us the opportunity to react flexibly on current situations in the lucrative and capital intensive real estate business’, explained Axel Harloff, board member of ADLER Real Estate AG. The major US-shareholder partly waived the execution of his subscription rights. This allowed for the aspired enlargement of the free float and will provide for a sustained well-balanced shareholder structure. ‘After we expanded the topic capital market communication in the previous months, simultaneously to the operational business, we see in the increased free float a very good launching pad for the entry of additional investors and shareholders. By mandating two designated sponsors, we also significantly improved the frame condition for the introduction in our share’, said Barbara Yaltrak. The board For further information please contact: GFEI GmbH Tel.: +49 (0)69-743 037 00 Fax: +49 (0)69-743 037 06 ir-adler@gfei.de About ADLER Real Estate AG: ADLER Real Estate AG is dealing in the business fields of commercial project development, portfolio management, asset management, and closed property funds. Their specific expertise is in the realization and marketing of ambitious national and international real estate projects. ADLER Real Estate AG emerged from the tradition-rich corporate veil of the Adlerwerke in Frankfurt. Their history goes back to the 19th century. Today, the majority shareholder of ADLER Real Estate AG is the U.S. real estate investor John D. Heikenfeld. (c)DGAP 18.07.2006 ————————————————————————— Language: English Issuer: Adler Real Estate AG Neuer Wall 77 20354 Hamburg Deutschland Phone: +49 (0)40 – 29 8130-0 Fax: +49 (0)40 – 29 8130-35 E-mail: info@adler-ag.de WWW: www.adler-ag.de ISIN: DE0005008007 WKN: 500800 Indices: Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (General Standard), Düsseldorf, München; Freiverkehr in Hamburg End of News DGAP News-Service —————————————————————————