Capital Increase of DIC Asset AG Successfully Completed

Capital Increase of DIC Asset AG Successfully Completed

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>> Gross issuance proceeds of approx. EUR 100 million
>> Subscription rate of 98.95 percent
>> Höller: „Investors are showing their faith in the corporate strategy.“

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Frankfurt, 28 November 2013 – DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4) successfully completed its capital increase. 98.95 percent of the subscription rights were exercised by the holders of such rights, who subscribed for 16,450,729 new shares at a subscription price of EUR 6.00 per new share. The 202,203 remaining new shares not subscribed on the basis of the subscription offer were sold.

The Company’s share capital increased by 16,652,932 new shares within the framework of the cash capital increase generating gross issue proceeds of approx. EUR 100 million for the Company. Another 6,206,068 shares were issued against contribution in kind for the purpose acquiring and integrating the „UNITE“ portfolio. The issuance of 22,859,000 new shares increases the Company’s share capital to EUR 68,577,747. The new shares are scheduled to be included in the existing quotation of DIC Asset AG at the Frankfurt Stock Exchange on 29 November 2013. The issue proceeds of the cash capital increase will mainly be used to optimise the financing structure of the „UNITE“ portfolio, which was acquired via the capital increase against contribution in kind, and for general corporate purposes.

The integration and acquisition of the „UNITE“ portfolio with an aggregate portfolio market value of EUR 481 million will enable the Company to further reduce its leverage level in the coming years, mainly through property disposals, without falling short of a minimum portfolio size that is viable from a capital and real estate market perspective. The acquisition of the „UNITE“ portfolio will increase the volume of direct holdings of DIC Asset AG („Commercial Portfolio“) up to around EUR 2.3 billion. DIC Asset AG thus pursues its strategic course of positioning itself as a direct commercial real estate holder whilst reducing its joint-venture exposure. At the same time, the transaction helps the Company to streamline its corporate structures. As part of its strategic road map, the Company plans to gradually reduce its leverage to a loan-to value (LTV) ratio of below 60 per cent by 2016. This will primarily be facilitated by property sales projected to amount to approx. EUR 450 million from the entire Commercial Portfolio of DIC Asset AG, by recurring portfolio income, and the continued growth of the fund business, by the results of project developments realised, and the repayment of existing shareholder loans to a large extent.

Deutsche Immobilien Chancen Group as largest shareholder of DIC Asset AG participated in the cash capital increase via a so-called „opération blanche“ and continues to hold a share of some 33 percent in the Company post transaction. Deutsche Immobilien Chancen Group intends to retain its stake in the Company as a strategic long-term equity investment.

In their role as joint bookrunners, Bankhaus Lampe KG and Commerzbank AG agreed vis-à-vis DIC Asset AG to acquire the new shares from the cash capital increase at a subscription price of EUR 6.00, offer the shares to the existing shareholders for subscription, and to sell non-subscribed shares. .

Ulrich Höller, CEO of DIC Asset AG: „The successful completion of the capital increase highlights the faith that our shareholders put in the proven business model as well as in our strategic course for the coming years, which we aim to implement consistently.“

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Disclaimer
This publication is intended exclusively for information purposes, and constitutes neither a sales offer nor an offer to buy or subscribe securities. The offer was made exclusively through, and on the basis of, the securities prospectus approved by the German Supervisory Authority for Financial Services (BaFin) on 13 November 2013. Only the securities prospectus contains the investor information required under applicable statutory provisions. The securities prospectus has been published on the Internet on the homepage of the issuer ( www.dic-asset.de ).

This publication is not destined for distribution or dissemination in the United States of America, either directly or indirectly, or within the United States of America (including its territories and possessions, or any State of the United States of America or the District of Columbia) and may not be distributed or passed to „U.S. persons“ (as defined in Regulation S of the U.S. Securities Act of 1993, as amended from time to time (the „Securities Act“)), or to publications with a general distribution in the United States of America. This publication represents neither an offer nor an invitation to make an offer to purchase securities in the United States of America, neither is it part of such offer or invitation. The securities are not, and will not be, registered in accordance with the provisions of the Securities Act and may only be sold or offered for purchase in the United States of America subject to prior registration in accordance with the provisions of the Securities Act, as amended, or on the basis of an exemption if they have not previously been registered. The issuer does not intend to register the offer of shares – in full or in part – in the United States of America, or to carry out a public offer in the United States of America.

No prospectus was published or will be published in the United Kingdom for the securities to which this publication relates. Therefore, this publication exclusively addresses, and may only be distributed to „qualified investors“. Qualified investors are those who have (i) professional experience in investment transactions as defined in Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the „Order“); (ii) are high net worth entities as defined in Article 49(2)(a) to (d) of the Order; or (iii) whose circumstances correspond to other persons to whom the document may be legally transmitted (all these persons are identified collectively as „relevant persons“). Furthermore, this publication is exclusively destined for those persons in EEA member states outside Germany who are qualified investors as defined by Article 2 (1) (e) of the Prospectus Directive (Directive 2003/71/EC, as amended) („qualified investors“). Any investment or investment activity in connection with this publication is only accessible to, and will only be entered into with (i) relevant persons in the United Kingdom or (ii) qualified investors in EEA member states outside Germany. Any other persons who receive this publication within a member state of the EEA other than Germany should not refer to this publication, or act on the basis of it.

This publication does not constitute an offer to sell securities in Canada, Japan or Australia.
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About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in Frankfurt am Main, is a real estate company with a dedicated investment focus on commercial real estate in Germany, pursuing a return oriented investment policy. The Company currently has a total of around 250 real property assets worth approximately EUR 3.2 billion under management. The investment strategy of DIC Asset AG aims at the continuous development of a quality-driven, high-yield, and regionally diversified portfolio. The portfolio is divided into two segments: the „Commercial Portfolio“ (EUR 1.8 billion) comprises existing properties with long-term rental contracts generating attractive rental yields. The „Co-Investment“ segment (EUR 0.3 billion pro rata) pools fund investments, joint venture investments, and investments in project developments. Own real estate management teams provide a direct service to tenants through six branch offices located at the regional hubs within the portfolio. This kind of market presence and expertise creates the basis for preserving and enhancing our earnings and real estate values. DIC Asset AG has been included in the SDAX® segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.

Kontakt
DIC Asset AG
Immo von Homeyer
Eschersheimer Landstrasse 223
60320 Frankfurt/Main
+49 69 274033-86
[email protected]
http://www.dic-asset.de

Pressekontakt:
Thomas Pfaff Kommunikation
Thomas Pfaff
Höchlstr. 2
81675 München
089 992496-50
[email protected]
http://pfaff-kommunikation.de

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