Intervest Offices & Warehouses: Capital increase for a maximum amount of € 99.854.767,50 for ­funding the growth strategy

Total already announced investment pipeline of circa € 125 million

Public offer to subscribe to a maximum of 5.397.555 new shares within the framework of a capital increase in cash within the authorised capital with irreducible allocation right for a maximum amount of € 99.854.767,50.

Request for admission to trade the new shares on the regulated market of Euronext Brussels.

Intervest Offices & Warehouses announces a capital increase to continue its growth strategy, both in the office portfolio and in logistics real estate, while maintaining the debt ratio between 45% and 50%. Capital increase for a maximum amount of € 99.854.767,50. Announced investments with regard to logistics site Seaport Ghent (BE), logistics project Roosendaal (NL), demolition, sanitation and infrastructure works zone B of the former Ford site in Genk (BE), logistics development Gold Forum nearby Eindhoven airport (NL), logistics site Roosendaal (NL) and office complex in Leuven (BE), for a total of circa € 125 million. With these transactions, Intervest Offices & Warehouses' goal to grow its real estate portfolio to € 800 million by end 2018 will be realized. 21,68% of the capital increase is pre-committed by the reference shareholders FPIM/SFPI (including Belfius group), Allianz Benelux nv and Patronale Group nv. Subscription price: € 18,50 per new share, representing a discount of 15% compared to the closing share price on 13 November 2018 of € 23,05, adjusted by the estimated value of coupon no. 21 to be detached on 14 November 2018 (after market close), i.e. € 1,28. Intervest Offices & Warehouses confirms that for the 2018 financial year, the EPRA earnings per share will remain at least stable compared to 2017 (€ 1,58 per share) and, subject to the results and the approval by the Ordinary General Meeting of the dividend relating to the 2018 financial year, that the dividend will remain at least at the same level as last year (€ 1,40 per share). 7 irreducible allocation rights give the right to subscribe to 2 new shares. Detachment of coupon no. 20 representing the irreducible allocation right: 14 November 2018 after market close. Detachment of coupon no. 21 representing the right to the pro rata temporis dividend for the current 2018 financial year to 29 November 2018, which will not accrue to the new shares: 14 November 2018 after market close. Subscription Period: from 15 November 2018 through 26 November 2018. The irreducible allocation rights are negotiable throughout the entire subscription period. Placement of the scrips will in principle take place on 28 November 2018. Bank Degroof Petercam acts as the Global Coordinator and as Joint Bookrunners together with Belfius Bank, ING Belgium and KBC Securities.

Full press release:

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Capital increase November 2018

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