Share Issue/Capital Change • Jun 4, 2015
Share Issue/Capital Change
Open in ViewerOpens in native device viewer
Montea yesterday announced the (indirect) contribution in kind of the Apeldoorn site in the Netherlands1 . The Statutory Business Manager yesterday approved the capital increase of € 4,363,580.10 in the context of the authorised capital and the issue of 214,110 new shares in Montea.
Montea has acquired a cross-dock facility in Apeldoorn from Tilburg-based WGA Versteijnen Investments Transport B.V. The acquisition was conducted through an (indirect) contribution in kind and payment via the issue of new shares in Montea. The new shares were issued as the result of a capital increase in the context of authorised capital2 through a decision taken by Montea's Statutory Business Manager. The transaction has resulted in a strengthening of Montea's equity capital by € 7,483,893.89, of which € 4,363,580.10 has been allocated to capital and € 3,120,313.79 to issue premiums.
The party making the contribution has been paid with 214,110 new Montea shares totalling € 7,483,893.89. The issue price for the new shares used in the context of this transaction is € 34.9535 per share. The 214,110 new Montea shares issued are ordinary shares, with the same rights as the existing shares. Permission to trade the new shares on Euronext Brussels and Paris will be applied for as quickly as possible.
Earlier yesterday, Mr Dirk De Pauw also sold shares at the same price per share to Patronale Life NV.
After the capital increase, WGA Versteijnen Investments Transport B.V. sold the newly created shares at the same price to Mr Dirk De Pauw. In so doing, at the end of the day Mr De Pauw owned as many shares in the capital of Montea as before the sale of his shares to Patronale Life NV.
The (indirect) contribution in kind strengthens Montea's equity capital. This means that the contribution in kind has a favourable effect on both the individual and consolidated debt ratio of Montea, creating a reduction of approximately 0.8% compared with the debt ratio at 31st March 2015. This provides Montea with the ability to realise its further growth plans in the future. The strengthening of Montea's equity capital will also play a role in the way the company's financial health is assessed by third parties (not just credit institutions, but also suppliers and clients). It will also give Montea the opportunity in the future to finance additional transactions with debt. In this way, Montea's capital structure continues to be managed proactively, while allowing for the retention of a buffer in terms of credit facilities. Consequently, the portfolio will grow through a healthy combination of various finance sources and Montea's debt ratio will also remain under control.
1 Also see the press releases dated 20th May and 3rd June 2015. 2 Through the contribution in kind to Montea for the vendor's debt over Montea's Heerenberg NV, which came into existence through the sale of the Apeldoorn site in the Netherlands to Montea's Heerenberg NV.
As a result of the capital increase and the issue of new shares on 3rd June 2015 in the context of the transaction relating to the Apeldoorn site in the Netherlands, Montea's total capital at 3rd June 2015 is € 182,778,552.06. This capital is represented by 8,968,488 ordinary shares, paid up in full. There are no preference shares or shares without voting rights, nor are there any convertible bonds or warrants giving entitlements to shares. Each of these shares grants the holder one vote at the general meeting and hence these shares represent the denominator for the purpose of disclosure in the context of the transparency regulations (disclosures in the event of reaching, exceeding or falling short of statutory or legal thresholds). Montea's articles of association define the thresholds at which any excess must result in disclosure at 3%, 5% and every multiple of 5% of the total number of the existing voting rights.
Montea Comm. VA is a public real estate investment fund under Belgian law (SIR – SIIC), specialising in logistics real estate in the Benelux and in France. The company is a reference player in this market. Montea offers its customers literally room to grow, through flexible, innovative real estate solutions. In this way, Montea creates value for its shareholders. On 8 May 2015, Montea was the first Belgian real estate investor to earn the Lean & Green Star in recognition of the effective reduction of the CO2 emissions in the Belgian portfolio by 26%. On 31 March 2015, the real estate portfolio represents a total of 663,562 m² floor space, in 43 locations. Montea Comm. VA has been listed on Euronext Brussels (MONT) and Paris (MONTP) since 2006.
Jo De Wolf www.montea.com +32 53 82 62 62 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.