Accentro Real Estate AG

Share Issue/Capital Change • Feb 23, 2010

News Details

Ad-hoc | 23 February 2010 21:32

TAG Immobilien AG acquires stake in ESTAVIS AG

ESTAVIS AG / Capital Increase

23.02.2010 21:32

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.

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Berlin, 23 February 2010 - TAG Immobilien AG (Hamburg) is acquiring a stake
of around 15% in ESTAVIS AG (ISIN DE000A0KFKB3) as a strategic investor by
means of a capital increase through contributions in kind. The transaction
was approved today by the Management Board and the Supervisory Board of
ESTAVIS AG.

The transaction is based on a share price of EUR 2.35. This is equivalent
to a premium of around 37% on the closing price in Xetra of 23 February
2010 (EUR 1.72).

The capital increase is being carried out through partial utilisation of
the approved capital. 1,446,808 new bearer shares are being issued at a
nominal amount of EUR 1.00 per share. The shareholders' subscription rights
are excluded. As a result of the capital increase, the share capital of
ESTAVIS AG is increasing from EUR 8,099,427 to EUR 9,546,235. The new
shares are subject to a minimum lock-up period of one year.

The contributions in kind comprise a listed property in a very sought after
location in the centre of Berlin. On a total area of some 3,900 square
metres, 54 apartments and loft apartments are being created through the
planned refurbishment of the property built in 1910. The apartments will
meet the requirements for special tax incentives in accordance with section
7 of the German Income Tax Act which permit the buyer to write down all
refurbishment expenses within 12 years.

ESTAVIS expects revenues of some EUR 13 million from the sale of the listed
apartments.

ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 / Fax: -779 - E-Mail: ir@estavis.de

23.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Deutschland
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, München, Düsseldorf, Hamburg, Stuttgart

End of News DGAP News-Service

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