Deutsche Euroshop Newsroom

Corporate News

01.02.2010

Deutsche EuroShop AG generates approx. € 123 million from its successful rights offering – Approx. 5-times oversubscribed

- Not for release, publication or distribution in the United States, Canada, Japan or Australia -

 

The shareholders of Deutsche EuroShop AG (ISIN DE0007480204) have exercised subscription and oversubscription rights for all 6,302,082 new shares offered in connection with the company’s rights offering, the subscription period ended as planned on January 29, 2010. Following the exercise of 90.9 % of the shareholders’ subscription rights, 574,965 shares remain available for oversubscriptions. In total, oversubscriptions for 25,321,943 shares were submitted. Due to the high rate of oversubscription, approx. 2.3 % of the shares for which effective oversubscriptions were submitted will be fulfilled. The total subscriptions and oversubscriptions amounted to over € 600 million, which corresponds to a 4.9-times oversubscription rate.

 

Deutsche EuroShop AG will receive gross proceeds from the rights offering of approximately € 123 million. The proceeds are to be used primarily to finance the acquisition of the A10 Center in Wildau, near Berlin, which was agreed in early January 2010.

 

"We are pleased with the decidedly positive response to our rights offering," said Claus-Matthias Böge, CEO of Deutsche EuroShop. "We had long wished to give our many loyal shareholders the opportunity to participate in a capital increase. We believe we found a good way to do so through our choice of a rights offering."

 

Olaf Borkers, CFO of Deutsche EuroShop, added: "We see the high take-up rate as a clear show of trust by our shareholders and the capital markets in the strategy and future of Deutsche EuroShop."

 

Upon the registration of the capital increase in the commercial register, which is expected to occur by February 3, 2010, the total number of outstanding shares of the company will rise to 44,114,578. Delivery and payment for the new shares is expected to take place on Thursday, February 4, 2010, but at the earliest upon their admission to stock exchange trading.

 

The Co-Lead Managers for the transaction were COMMERZBANK Aktiengesellschaft and DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main.

 

Deutsche EuroShop AG

Management Board

 

This publication constitutes neither an offer to sell nor a solicitation of an offer to buy securities. In particular, this document constitutes neither an offer to sell nor a solicitation of an offer to purchase securities in the United States. The shares in Deutsche EuroShop AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U. S. persons" (as such term is defined in Regulation S under the U. S. Securities Act of 1933, as amended (the "Securities Act")) absent registration or an exemption from registration under the Securities Act. The Shares have not been and will not be registered under the Securities Act. There will be no public offering of Shares in the United States.

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