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Geneba completes rights issue raising fresh capital for extension of portfolio and strengthening financial position

Geneba completes rights issue raising fresh capital for extension of portfolio and strengthening financial position

Amsterdam, 8 January 2015 – Geneba Properties N.V. (“Geneba”) announces the successful completion of its rights issue that was announced on 3 December last year. With the closing of the offering under the rights issue Geneba thereby nearly triples its equity and obtains up to € 206 million of new capital.

As explained during Geneba’s EGM at 18 December, 2014, with the completion of the rights issue, Geneba is set to increase its equity by up to € 206 million to approximately € 300 million (based on the latest published figures as per 30 June 2014) and is now well positioned to execute its strategy and become a strong core European real estate company.

“The completion of this rights issue clearly marks the start of a new episode. In the first months as a newly established company, we paved the way for the implementation of our strategy. We have now significantly strengthened our financial position by reducing the Loan to Value ratio (LTV) from approximately 77% to 70% and improving the capital of the company available for new acquisitions. Thanks to the investments of Catalyst and all other participating shareholders, we have created a solid foundation and ample room for new investments safeguarding the interests of all our investors. We look forward to creating a well diversified portfolio with solid properties, generating stable returns for all our shareholders,” Wulf Meinel, CEO of Geneba stated.

The rights issue was offered to all existing shareholders at equal conditions. 5 new shares were issued for 2 existing shares at a discount of 12% to the Net Asset Value per share as per June 30, 2014. A first tranche of 31,170,375 new ordinary shares has been issued as of last Tuesday, bringing the total number of Geneba ordinary shares outstanding to 60,929,471. As a result, the total equity value of Geneba increased by € 87 million.

Through its full initial participation the stake of Catalyst RE Coöperatief U.A. ("Catalyst Coop") has consequently grown from 42% to 71 % at this stage. In accordance with the rights issue prospectus which Geneba made generally available on 3 December 2014, Catalyst Coop has committed to take up all or part of the remaining 43,227,365 new ordinary shares to be issued against new real estate investment opportunities which Geneba will commit to in 2015. If all new ordinary shares are issued, Catalyst Coop will have invested additional capital and have increased its stake in the company to 83%.


About Geneba

Geneba Properties N.V. is a European commercial real estate company, incorporated in 2013 and based in Amsterdam, the Netherlands. The company manages a property portfolio consisting of long-term leased commercial real estate in Germany, the Netherlands and the three Baltic countries.
Geneba's investment focus is on Corporate Real Estate assets which serve its tenants as operational basis. The main targets are logistics, light industrial and office buildings in Germany, the Netherlands and Scandinavia. Geneba’s shares are traded at NPEX. Geneba is subject to the supervision of the AFM.

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