Share Issue/Capital Change • Jun 3, 2015
Share Issue/Capital Change
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Montea today announced that it is planning the (indirect) contribution in kind of the Apeldoorn site in the Netherlands, representing a contribution value of approximately € 7,484,000 and linked with the issue of 214,110 new Montea shares in the context of its authorised capital.
Through its Dutch subsidiary, Montea's Heerenberg N.V., Montea has acquired a modern cross-dock building in Apeldoorn from Tilburg-based WGA Versteijnen Investments Transport B.V. This state-of-the-art facility is situated on land of 32,400 m2 and features approximately 8,400 m2 of warehousing, as well as some 785 m2 of office space1 . The handover document for this property in the Netherlands is due to be signed off on 2nd June 2015. Montea is expecting confirmation from the Dutch notary at around noon on that day stating that the property is mortgage-free and unencumbered, after which the transaction will become final.
Montea is then intending to increase its capital in the context of its authorised capital by way of the contribution in kind of WGA Versteijnen Investments Transport B.V.'s claim over Montea's Heerenberg NV to pay the principal on the transfer of ownership of the property, totalling € 7,483,893.89, in return for the issue of new Montea shares at an issue price equivalent to € 34.9535 per share. This issue price corresponds with the weighted average share price (VWAP) of Montea shares on the Euronext Brussels market on the 30 trading days prior to 3rd June 20152 , minus a discount of 2.5%.
The party making the contribution, WGA Versteijnen Investments Transport B.V., will receive 214,110 new Montea shares, totalling € 7,483,893.89. This means that the 214,110 new Montea shares issued as a result will be ordinary shares that have the same rights as the existing shares. Permission to trade the new shares on Euronext Brussels and Paris will be applied for without delay.
In order to facilitate this transaction, it is agreed between WGA Versteijnen Investments Transport B.V. and Mr Dirk De Pauw, who together with his sisters is a reference shareholder in Montea, that the former will sell the newly created shares to the latter at a price per share equal to their issue price. To acquire these new shares, Mr Dirk De Pauw will, earlier today via a private sale-purchase agreement, sell 214,110 of the existing shares that he owns in Montea for a total price of € 7,483.893.89 to Patronale Life NV.
Being able to pay in shares enables Montea to manage its capital structure proactively and retain a buffer in terms of its credit facilities. It also gives Montea the ability to conduct additional transactions financed by debt in the future. The contribution in kind will therefore have a favourable effect on both Montea's individual and consolidated debt ratios, creating a reduction of approximately 0.8% compared with the debt ratio at 31st March 2015.
1 Also see the press release dated 20th May 2015.
2 This will be for the 22 trading days on which Montea shares were listed with coupon nº 14 for EUR 0.95 deducted from the weighted average share price, which corresponds with the gross dividend for the second half of the 2014 financial year that was paid out at the Montea annual meeting on 19th May 2015.
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.
PRESS CONTACT FOR MORE INFORMATION
Jo De Wolf www.montea.com +32 53 82 62 62 [email protected]
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