27.11.2013
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DGAP-News: GSW Immobilien AG: Convertible Bond - Notice of a change of control
DGAP-News: GSW Immobilien AG / Key word(s): Miscellaneous
GSW Immobilien AG: Convertible Bond - Notice of a change of control
27.11.2013 / 15:33
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GSW Immobilien AG - Notice of a change of control in the sense of the Terms
and Conditions of the Convertible Bonds of GSW Immobilien AG (ISIN
DE000GSW1CB6), of a right limited in time to opt for early redemption of
the convertible bonds, and of a temporary adjustment of the conversion
price
Berlin, 27 November 2013 - With regard to the convertible bonds of GSW
Immobilien AG in the amount of EUR 182.9 million, which will be due for
repayment on 20 November 2019 (ISIN DE000GSW1CB6) (the 'Convertible
Bonds'), GSW Immobilien AG hereby notifies a change of control in the sense
of § 12(1)(e) of the terms and conditions of the Convertible Bonds (the
'Terms and Conditions'):
GSW Immobilien AG on 27 November 2013 obtained knowledge of the fact that
the public takeover offer (the 'Takeover Offer') of Deutsche Wohnen AG to
acquire all no-par value bearer shares of GSW Immobilien AG by an exchange
of shares, which was published on 2 October 2013 and according to a notice
of Deutsche Wohnen AG has been accepted for approximately 91.05% of the
share capital and the voting rights of GSW Immobilien AG, has become
unconditional on 27 November 2013 as a result of all closing conditions for
the Takeover Offer having been satisfied. Consequently Deutsche Wohnen AG
has had control of GSW Immobilien AG in the sense of the Terms and
Conditions since that day.
GSW Immobilien AG has determined 24 January 2014 as the effective date in
the sense of § 12(1)(a)(ii) of the Terms and Conditions (the 'Effective
Date').
Pursuant to § 12(1)(b) of the Terms and Conditions, each bondholder is
entitled upon today's notification of the change of control, at its option,
to request GSW Immobilien AG, by submitting a redemption notice which must
be received by the paying agent no less than ten calendar days prior to the
Effective Date, to redeem as of the Effective Date any or all of its bonds
for which the conversion right was not exercised and which were not
declared due for early redemption, at their principal amount plus interest
accrued thereon until (but excluding) the Effective Date.
The conversion price temporarily adjusted pursuant to § 12(1)(d) of the
Terms and Conditions, in the event that the conversion right is exercised
by submitting a conversion notice on or prior to the Effective Date, is EUR
29.4278.
Further information regarding the Convertible Bonds is available on the
website www.gsw.de under Investor Relations.
GSW Immobilien AG
- The Management Board -
End of Corporate News
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27.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: GSW Immobilien AG
Charlottenstraße 4
10969 Berlin
Germany
Phone: 030 68 99 99 0
Fax: 030 68 99 99 999
E-mail: [email protected]
Internet: www.gsw.de
ISIN: DE000GSW1111
WKN: GSW111
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
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241978 27.11.2013
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