VGP NV Successfully Prices Accelerated Bookbuild Offering for €300
Million
NOT FOR
DISTRIBUTION IN
OR INTO THE
UNITED STATES OF
AMERICA, JAPAN,
CANADA, SOUTH AFRICA or
AUSTRALIA
24 November
2021,
8.00pm,
Antwerp, Belgium: VGP NV (‘VGP’ or the ‘Company’), a
European provider of high-quality logistics and semi-industrial
real estate, announces that it successfully priced today an
offering of €300 million in gross proceeds by means of a private
placement of new ordinary shares via an accelerated bookbuild
offering to international institutional investors (the ‘Capital
Increase’). The Capital Increase consists of 1,250,000 new shares
(approximately 6.1% of the Company's outstanding shares on
completion of the offering) at an issue price of €240 per share,
representing a discount of 9.1% compared to the last traded price
of the Company’s share on 24 November 2021 of €264.00 and a premium
of 3.0% compared to the last traded price of the Company’s share
prior to the 10-month trading update as published before market
open on 19 November 2021.
VGP will use the net proceeds from the Capital
Increase primarily to increase its financial purchasing power and
strengthen its shareholders’ equity in order to finance the
investment pipeline and to be able to capitalize on additional
investment opportunities
VGP’s Chief Executive Officer, Mr. Jan Van Geet,
said “We are very pleased to announce the successful completion of
this equity raising which met with strong demand from both local
and international investors. This exercise has provided us with
additional resources to pursue our strategy of capturing investment
opportunities and will ensure we can deliver on our significant
pre-committed pipeline. We are grateful for the ongoing support by
existing and new investors.”
J.P. Morgan AG and KBC Securities SA/NV acted as
Joint Global Coordinators and Joint Bookrunners of the Capital
Increase, with BNP Paribas Fortis SA/NV and Belfius Bank SA/NV in
cooperation with Kepler Cheuvreux SA acting as Joint Bookrunners
(altogether referred to as the ‘Syndicate Banks’).
VGP has agreed, subject to customary exceptions,
that it will not, for a period of 180 days from the Closing Date,
without the prior written consent of the Joint Global Coordinators,
acting on behalf of the Syndicate Banks, issue, offer or sell any
Shares of the Company or any securities convertible into Shares of
the Company, or file any registration statement under the U.S.
Securities Act or any similar document with any other securities
regulator, stock exchange or listing authority with respect to any
of the foregoing.
The payment and delivery of the new shares is
expected to take place on or about Monday 29 November 2021
(the ‘Closing Date’), and an application will be made to admit the
new shares to trading on the regulated market of Euronext Brussels
at the same time. The new shares will be issued in accordance with
Belgian law and are ordinary shares that represent the capital of
the Company, in the same form as the existing ordinary shares. They
shall confer the same rights as the existing ordinary shares. The
new shares will be entitled to dividends from the moment of
admission.
As a result of the issuance of the new shares,
the Company's outstanding shares will increase from 20,583,050 to
21,833,050 ordinary shares.
CONTACT DETAILS FOR INVESTORS AND MEDIA
ENQUIRIES
Martijn Vlutters (VP – Business Development & Investor
Relations) |
Tel: +32 (0)3 289 1433 |
Petra Vanclova (External Communications) |
Tel: +42 0 602 262 107 |
Anette NachbarBrunswick Group |
Tel: +49 152 288 10363 |
ABOUT VGP
VGP is a pan-European developer, manager and
owner of high-quality logistics and semi-industrial real estate.
VGP operates a fully integrated business model with capabilities
and longstanding expertise across the value chain. The company has
a development land bank (owned or committed) of 10.49 million m²
and the strategic focus is on the development of business parks.
Founded in 1998 as a Belgian family-owned real estate developer in
the Czech Republic, VGP with a staff of circa 350 employees owns
and operates assets in 12 European countries directly and through
several 50:50 joint ventures. As of June 2021, the Gross Asset
Value of VGP, including the joint ventures at 100%, amounted to €
4.48 billion and the company had a Net Asset Value (EPRA NTA) of €
1.51 billion. VGP is listed on Euronext Brussels (ISIN:
BE0003878957).
For more information, please visit:
http://www.vgpparks.eu
DISCLAIMER
This announcement shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of the securities referred to herein, in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration, exemption from registration or qualification under
the securities laws of any such jurisdiction.
This announcement is not for distribution,
directly or indirectly in the United States of America, Canada,
Australia, South Africa or Japan, or any other jurisdiction where
distribution would not be permitted by law. The information
contained herein does not constitute an offer of securities for
sale in the United States of America, Australia, Canada, Japan,
South Africa or Switzerland.
This announcement does not constitute an offer
of securities in the United States of America, or a solicitation to
purchase securities in the United States of America. The securities
referred to herein have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “US
Securities Act”), or under the securities law of any state or
jurisdiction in the United States of America and may not be
offered, sold, resold, transferred or delivered, directly or
indirectly within the United States of America except pursuant to
an applicable exemption from the registration requirements of the
US Securities Act and in compliance with any applicable securities
laws of any state or jurisdiction of the United States of America.
The company has not registered, and does not intend to register,
any portion of the offering in the United States of America. There
will be no public offer of securities in the United States of
America.
In a Member State of the European Economic Area
an offer of securities to which this communication relates is only
addressed to and is only directed at qualified investors in that
Member State and the United Kingdom within the meaning of
Regulation ((EU) 2017/1129 of the European Parliament and of the
Council of 14 June 2017 on the prospectus to be published when
securities are offered to the public or admitted to trading on a
regulated market, and repealing Directive 2003/71/EC, and any
implementing measure in each relevant Member State of the EEA.
In the United Kingdom an offer of securities to
which this communication relates is only addressed to and is only
directed at and any investment or investment activity to which this
information relates is available only to, and will be engaged in
only with, (i) persons having professional experience in matters
relating to investments falling within the definition of
“investment professionals” in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as
amended (the “Order”), (ii) “high net worth companies,
unincorporated associations, etc”. falling within Article 49(2)(a)
to (d) of the Order, and (iii) any other person to whom it may
otherwise lawfully be communicated (all such persons together being
referred to as “Relevant Persons”). Persons who are not Relevant
Persons should not take any action on the basis of this information
and should not act or rely on it.
In relation to Switzerland, this announcement is
only addressed to, and is only directed at, investors that qualify
as “professional clients” within the meaning of the FinSA.
- VGP - Pricing Press Release (EN)
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