InCity Immobilien AG

Regulatory Filings • Jul 6, 2018

News Details

Ad-hoc | 6 July 2018 10:45

InCity Immobilien AG: INCITY WILL PUBLISH MARKET VALUES OF PROPERTY PORTFOLIO AND NAV PER SHARE

InCity Immobilien AG / Key word(s): Miscellaneous

InCity Immobilien AG: INCITY WILL PUBLISH MARKET VALUES OF PROPERTY PORTFOLIO AND NAV PER SHARE

06-Jul-2018 / 10:45 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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INCITY WILL PUBLISH MARKET VALUES OF PROPERTY PORTFOLIO AND NAV PER SHARE

• Company presentation with overview of portfolio properties available today on homepage
• Market values of the portfolio properties as of 31 March 2018 to be published
• First-time disclosure of net asset value (NAV) of EUR 1.40 per share as of 31 March 2018

Frankfurt am Main, 6 July 2018 – Today InCity Immobilien AG will publish a company presentation with an overview of its current ten portfolio properties on its homepage. According to management estimates, the portfolio properties’ market values as of 31 March 2018 (“cut-off date”) totalled EUR 163.6m. This results in an intrinsic value (net asset value, “NAV”) of EUR 1.40 per share as of the cut-off date.

In the company presentation with an overview of the portfolio properties to be published today on the homepage of InCity Immobilien AG ( www.incity.ag ), the management of InCity has estimated the market value of the ten portfolio properties at EUR 163.6m as of the cut-off date. In order to validate internal valuation assumptions, the management has commissioned BNP Paribas Real Estate Consult GmbH (“BNPP REC”), an external third party, to carry out a market valuation for the property portfolio as of the cut-off date. The valuation by BNPP REC resulted in a portfolio value of EUR 162.5m in the market valuation report submitted to InCity Immobilien AG today, thus only marginally (-0.7%) below the management valuation.

Taking into account the market valuation of the properties and other balance sheet items of the unaudited balance sheet of the InCity Group as of the cut-off date, the management valuation results in a net asset value (NAV) of EUR 1.40 per share. The derivation of the NAV per share can also be found in the company presentation. The NAV per share calculated is significantly, i.e. more than 15%, above yesterday’s XETRA closing price of EUR 1.21.

Note: The results determined and published here by BNPP REC are to be considered explicitly on a non-reliance basis. It should be noted that BNPP REC does not assume any obligation or liability whatsoever vis-à-vis potential third parties other than the client.

Reporting and contact person:

Helge H. Hehl, CFA

CFO

InCity Immobilien AG

Beethovenstrasse 71

60325 Frankfurt am Main, Germany

Phone: +49 (0)69 7191889 55

E-mail: ir@incity.ag

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06-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	InCity Immobilien AG
	Beethovenstraße 71
	60325 Frankfurt am Main
	Germany
Phone:	IR: +49 (0)69 7191889 55 PR: +49 (0)69 7191889 66
Fax:	+49 (0) 69 719 18 89 790
E-mail:	ir@incity.ag
Internet:	www.incity.ag
ISIN:	DE000A0HNF96
WKN:	A0HNF9
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart, Tradegate Exchange

End of Announcement	DGAP News Service