IVG Immobilien AG / Key word(s): Capital Reorganisation/AGM/EGM 19.07.2013 18:01 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Further progress regarding the comprehensive financing strategy: Submission of a joint proposal for financing by key creditors expected until 30 July 2013 IVG Immobilien AG (IVG or the company) has taken another step forward in talks with key creditors of the company, grouped in so-called 'ad hoc committees' on (i) the loan agreement for EUR 1,350 million of 25 September 2007/13 April 2012 (SynLoan I) and a bilateral loan granted to IVG for EUR 100 million of 30 November 2007/13 April 2013 (LBBW loan), (ii) the loan agreement for EUR 1,047.4 million of 12 May 2009/24 February 2012 (SynLoan II), (iii) the convertible bond (ISIN: DE000A0LNA87) and (iv) the hybrid bond (ISIN: DE000A0JQMH5), and with key shareholders to develop and implement a comprehensive financing strategy: The legal advisors to certain key creditors grouped in 'ad hoc committees' on SynLoan I, SynLoan II and the convertible bond - in total these three creditor classes represent liabilities of IVG in the amount of around EUR 2.9 billion - have today made statements, based on which the management board has come to the conclusion, that it is currently overwhelmingly likely that a proposal for a comprehensive financing of IVG outside insolvency proceedings borne out by the three above creditor classes could be presented to IVG by 30 July 2013. In the view of the board of management of IVG this proposal should include the following elements: (i) Consideration of the warranted interests of the shareholders and hybrid bond creditors. (ii) A regulation on the financing of the additional liquidity requirements of IVG of - if implementing the refinancing concept by the end of March 2014 - provisionally up to EUR 120 million, which could arise on account of, among other things, the deactivation of the automatic zero-balancing cash pool of the IVG Group and the extraordinary expenses to be borne by IVG for costs in connection with the company's refinancing efforts; and (iii) The commitment of sufficient support from creditors of the LBBW loan and the convertible bond in possibly delaying the incurrence or maturity of claims to payment from IVG in connection with these two financing arrangements to the extent that this is necessitated in the implementation of the refinancing measures. Based on this, the Board of Management feels that the forecast regarding the company's ability to continue as a going concern has been confirmed and with the approval of the Supervisory Board, has resolved, in the interests of the company, its shareholders and a strict process, to postpone the 2013 Annual General Meeting until provisionally 12 September 2013, so that the comprehensive refinancing proposal now expected by the end of July 2013 can be presented to the shareholders of IVG at this Annual General Meeting to be voted on, provided that, in the opinion of the Board of Management and the Supervisory Board, a consensus on it can be assumed. A corresponding meeting to be arranged for the creditors of the hybrid bond is scheduled for 27 August 2013. Regarding the half-year report as at 30 June 2013, the company is reporting that this report, as the consolidated and separate financial statements, is not currently expected to be published as scheduled on 9 August 2013 - due in part to the strategic review of all business areas and their carrying amounts (cf. the ad hoc disclosure of IVG of 12 July 2013) and the intended review of the six-month financial statements by the auditor - and is instead expected to be published on 26 August 2013. In spite of the delays now planned, the company is on schedule to implement its financing strategy. 19.07.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: IVG Immobilien AG Zanderstr. 5-7 53177 Bonn Germany Phone: +49 (0)228 844-400 Fax: +49 (0)228 844-372 E-mail: [email protected] Internet: www.ivg.de ISIN: DE0006205701, DE000A0JQMH5 WKN: 620570, A0JQMH Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), München; Freiverkehr in Hamburg, Hannover, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------