M&A Activity • Feb 17, 2017
M&A Activity
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Free translation. The Dutch version will prevail.
17 February 2017- 17h40 After trading hours Regulated information Inside information
Public limited liability company (société anonyme/naamloze vennootschap), Public Regulated Real Estate Company (Société Immobilière Réglementée (SIR) / Gereglementeerde Vastgoedvennootschap (GVV)) under Belgian Law Registered Office: 3 Horstebaan, 2900 Schoten Companies Registration No. 0456.378.070 (LPR Antwerp) (the "Company")
Schoten, Belgium- 17 February 2017-
Care Property Invest announces the agreement subject to suspensory conditions on the acquisition of the residential care centre with service flats "Les Terrasses du Bois" in Watermaal-Bosvoorde.
With "Les Terrasses du Bois" as our new investment property, Care Property Invest is actively working on expanding its portfolio. This project is a milestone for our Company since it is our first project in the Brussels-Capital Region and also the first one to be operated by Armonea. In the future, we intend to keep on expanding our real estate portfolio with health care infrastructure in the Flemish, Walloon and Brussels-Capital Regions as well as elsewhere in Europe. After this investment, our Belgian real estate portfolio will contain 85 projects and our equity will rise by approximately 34 million euros.
Care Property Invest NV/SA Horstebaan 3 2900 Schoten BE 0456 378 070- LPR Antwerp Public RREC under Belgian law
T +32 3 222 94 94 F +32 3 222 94 95 E [email protected] www.carepropertyinvest.be
The residential care centre and service flats will be operated by Home Sebrechts NV, a subsidiary of Armonea, through a long-term lease agreement of the triple net type.
In 83 residential care centres and service flats throughout Belgium, in 32 residential care centres and day centres in Spain and 17 residential care centres in Germany, over 9,800 motivated employees make over 15,000 senior citizens feel at home, day after day.
In the context of this transaction, Care property Invest will receive rental income deriving from this lease agreement from 1 January 2017.
The residential care centre with service flats "Les Terrasses du Bois" is centrally located, near the city centre of Watermaal-Bosvoorde. Banks, stores and even a psychiatric facility can be found in the nearby area. The site is easily accessible by public transportation, thanks to the vicinity of the train station and several bus and tram lines (within walking distance), and by car due to the convenient connexion with the Ring of Brussels. In addition, there are 70 onsite parking spots available.
The project contains 34 service flats and the residential care centre contains 130 rooms, divided in 117 single rooms and 13 double rooms, spread over 9 floors. The project is surrounded by a garden and several terraces (for residents and their visitors to enjoy if the weather permits).
This new expansion of the real estate portfolio will be realised through contributions in kind of the aforementioned property into the capital of Care Property Invest, within the context of the authorised capital. The conventional contribution value of "Les Terrasses du Bois" is approximately 34 million euros.
The issue price of the new shares will be equal to the volume weighted average share price for Care Property Invest 4 trading days before the effective date of contribution (the effective date of contribution not included), minus the announced gross dividend for the accounting year 2016 and minus a 10 % discount. The new shares will be issued with coupons nos. [7] and following attached and will therefore share in the result of the current financial year (from 1 January 2017 up to and including 31 December 2017). For this purpose, coupon no. [6], related to the gross dividend for the full accounting year 2016, will be detached before the effective date of contribution.
The contribution in kind is expected to take place on 15 March 2017 on the condition that a number of usual suspensory conditions have been met, including obtaining the approval of the FSMA for this contribution and the associated amended Articles of Association. Care Property Invest is committed to having the new shares, with coupons nos. [7] and following attached, listed on Euronext Brussels as from 15 March 2017.
This press release is valid as a publication pursuant to Article 37 of the RREC legislation. Care Property Invest believes that this transaction is of interest for the RREC, fits within the corporate strategy, and is executed under normal market conditions. The value of the underlying property that was agreed upon for the calculation of the contribution value, will be lower than the fair value of the property as valued by the real estate expert, less than one month before the transaction (in order to comply with Article 49, § 2 of the RREC legislation).
This press release contains forecasts involving risks and uncertainties, amongst others statements regarding plans, objectives, expectations and intentions of Care Property Invest. Readers are cautioned that such forecasts involve known and unknown risks and are subject to significant business, economic and competitive uncertainties which are mostly beyond Care Property Invest's control. If one or more of these risks or uncertainties materialise or should, if applied, basic assumptions prove incorrect, the final results may significantly deviate from the anticipated, expected, estimated or projected results. Consequently, Care Property Invest cannot assume any responsibility for the accuracy of these forecasts.
For any additional information, please contact: Valérie Jonkers COO - member of the Management Committee [email protected] T +32 3 222 94 94 - F +32 3 222 94 95 - E +32 499 28 01 43 Horstebaan 3 2900 Schoten [email protected] www.carepropertyinvest.be
Care Property Invest NV is a Public Regulated Real Estate Company (Public SIR/GVV) under Belgian law. Based on a solid organisation, Care Property Invest helps healthcare entrepreneurs to undertake property projects by offering real estate tailored to the end user, that is both qualitative and socially responsible. For its shareholders, Care Property Invest strives for a stable long-term rate of return.
Care Property Invest's share celebrated its 20th birthday on Euronext Brussels. The share is listed under the name of CPINV and has the following ISIN-Code: BE0974273055. As from December 2016, the share has also been included in the BEL Mid index.
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