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Nextensa SA — Regulatory Filings 2011
Jul 12, 2011
3982_iss_2011-07-12_a3b79716-3ca9-4888-9d75-7c8068245547.pdf
Regulatory Filings
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Regulated information
Under embargo till 12/07/11 –17.40h
Leasinvest Real Estate: statement in accordance with art. 18 – prevention of conflicts of interest of the RD of 07/12/10 on real estate investment trusts (bevak/sicafi)
On 07/07/11 Leasinvest Real Estate has taken over the existing shareholding of Extensa Participations II Sàrl (Extensa) of 173,072 shares (3.21%) in Retail Estates SA at 48.91 euro per share.
As Extensa is a 100% subsidiary of Extensa Group SA, in its turn a 100% subsidiary of Ackermans & van Haaren, the promoter of Leasinvest Real Estate, the transaction is subject to the application of article 18 of the RD on real estate investment trusts (prevention of conflicts of interest).
In accordance with article 18 of the RD on sicafis the following explanation shows that:
The proposed operation fits within the investment policy of Leasinvest Real Estate and the specifically designed strategy within that framework consisting of further diversifying the portfolio into retail. Whether this further diversification takes place through direct investments in real estate, or through the detention of participations in real estate companies and real estate investment trusts, is not a relevant criterion and does not entail any significant difference as to risks or return according to the board of directors.
The operation is in the interest of Leasinvest Real Estate as it is expected that this transaction will lead to an increase of the operating result and the cash return per share of the real estate investment trust, only as from the financial year 2012.
The transaction has been concluded at conditions that are in line with the market as the acquisition price per share has been defined based on the issue price (48.91 euro) applied by Retail Estates within the scope of the capital increase realized on 27/06/11 (this capital increase took place following the partial demerger of the SA FUN Belgium). This issue price of 48.91 euro has been defined based on the average closing price of the Retail Estates share during the 30 days preceding the issue, minus the net amount of the dividend paid by Retail Estates on 5 July (2.295 euro). For completeness we inform that the closing price of the Retail Estates share amounted to 51.55 euro on 7 July 2011.
Regulated information - under embargo till 18/02/11 – 7.30h
For more information, contact:
Leasinvest Real Estate Micheline Paredis Jean-Louis Appelmans Secretary General Investor Relations T: +32 3 238 98 77 T: +32 3 238 98 77 W www.leasinvest.be W www.leasinvest.be
E: [email protected] E: [email protected]
Leasinvest Real Estate Comm. VA
Real estate investment trust (sicafi) Leasinvest Real Estate SCA mainly invests in high quality and well-located offices, logistics and retail buildings in Belgium and the Grand Duchy of Luxembourg. The sicafi is listed on Euronext Brussels and has a market capitalization of approximately 279 million euro (value on 7 July 2011).