Accentro Real Estate AG

Share Issue/Capital Change • Feb 27, 2013

News Details

Corporate | 27 February 2013 18:10

ESTAVIS AG: Shareholder meeting of ESTAVIS AG approves capital increase +++ Further capital measures now possible +++ Turnaround in financial performance

ESTAVIS AG / Key word(s): Capital Increase/Forecast

27.02.2013 / 18:10

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Berlin, 27 February 2013 - The general meeting of shareholders of ESTAVIS
AG today approved a capital increase of six million shares against cash
contributions. The proceeds of the transaction will, in particular, by used
to finance the acquisition of a real estate portfolio in Berlin, marking a
further major step in the company's growth plans. It is expected that the
new shares will be offered for subscription in the second quarter.

The shareholder vote followed a management presentation in which the plans
to acquire and build up its real estate investment portfolio were presented
in concrete and detailed terms. In order to facilitate further growth, the
meeting of shareholders likewise voted in favour of resolutions for
additional approved capital (approx. 7.4 million shares), additional
contingent capital (approx. 6 million shares) and a stock option programme
(1.4 million shares).

Successful strategic reorientation

Over the course of the past year, the senior management of ESTAVIS has
carried out a comprehensive programme to restructure the company's business
activities. In addition to achieving record revenues in its tenant
privatisation business and considerable cost reductions, the company was
also able to take its first steps in constructing a real estate investment
portfolio. Along with the ownership transfer of the Berlin portfolio in the
currently pending third fiscal quarter (fiscal year from 1 July to 30
June), the company expects to achieve a turnaround in its profits.

'With the support of our shareholders, ESTAVIS is now in a position to
charge full speed ahead with the second phase of our growth programme,'
explained Andreas Lewandowski, Managing Director of ESTAVIS. 'Our
acquisition pipeline is full, so we will now be able to quickly move up
into the peer group of the larger German real estate investment companies.
And once our market capitalisation reaches EUR 100 million, we will also be
of interest to institutional investors.'

About ESTAVIS:
ESTAVIS AG is a listed property company focusing on residential properties.
Through its purchasing network, which extends throughout Germany, ESTAVIS
AG identifies property portfolios with great value-added potential and uses
its management expertise to harness this potential efficiently. In addition
to the regular cash flows generated from its real estate holdings, ESTAVIS
delivers investment returns through gains on tenant privatisations. ESTAVIS
AG is headquartered in Berlin and is listed on the Prime Standard of the
Frankfurt Stock Exchange (ISIN: DE000A0KFKB3 / WKN: A0KFKB).

Contact:
ESTAVIS AG
Investor & Public Relations
phone: + 49 30 887 181 799
e-mail: ir@estavis.de

Stockheim Media GmbH
Dr. Hubert Becker
phone: + 49 221 420 75 24
e-mail: hb@stockheim-media.com

End of Corporate News

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

End of News DGAP News-Service

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