IVG Immobilien AG / Key word(s): Insolvency 24.02.2014 12:22 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. --------------------------------------------------------------------------- Ad hoc release on disclosure of the insolvency plan pursuant to Section 234 of the German Insolvency Code (InsO) IVG Immobilien AG: Insolvency plan disclosed by the District Court of Bonn The insolvency plan of IVG Immobilien AG (IVG or Company) was disclosed today by the District Court of Bonn. It is thus now accessible for the parties involved in the proceedings. The insolvency plan disclosed provides, inter alia, the following measures for creating a solid capital and financing base which is viable on the market: (i) A debt-to-equity swap, through which the share capital of the Company will be reduced to nil at first. Then the creditors of (a) the syndicated loan agreement for EUR 1,350 million dated 25 September 2007/13 April 2012 (SynLoan I), (b) the bilateral loan agreement for EUR 100 million dated 30 November 2007/13 April 2012 (LBBW loan) and (c) the convertible bond (ISIN: DE000A0LNA87) obtain the economic option to acquire 100% of the newly issued shares in the company - under exclusion of the subscription rights of existing shareholders - as part of a subsequent capital increase. The subscription right of the above-mentioned groups of creditors or their right to acquire financial instruments in the holding companies which are yet to be established is broken down as follows: approximately 80% (creditors of SynLoan I and of the LBBW loan) and approximately 20% (creditors of the convertible bond). As a consequence of the capital reduction to nil as part of the debt-to-equity swap, the Company will be delisted. Regardless of this, in the near future, the Company will apply to the Frankfurt Stock Exchange to change from the Prime Standard to the General Standard of the local regulated market. (ii) The liabilities of the Company as a result of the loan agreement for EUR 1,047.4 million dated 12 May 2009/24 February 2012 (SynLoan II) shall be deferred and interest shall accrue during the deferral period. (iii) Due to the hybrid bond (ISIN: DE000A0JQMH5), no regulations are provided in the established insolvency plan for the Company's subordinate liabilities, so that they are considered waived in accordance with the regulations of the Insolvency Code with the legal force of a court decision. (iv) Under the established insolvency plan, the general planned ratio amounts to 60%. Under the insolvency plan disclosed, secured creditors and creditors with special rights will be offered higher planned quotas in exchange for surrendering their collateral and special rights. In particular, the level of these increased planned quotas depends on the extent of the collateral and special rights and under the established insolvency plan, is between 68% and 80%; for the creditors of the convertible bond this amounts to an increased planned quota of 68%. 24.02.2014 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 ---------------------------------------------------------------------------