Eastern Property Holdings Limited (EPH) announces the pricing for the upcoming issue and offer of up to 5,050,000 new shares
November 08 2016 - 1:10PM
Eastern Property Holdings Limited (EPH) / Eastern Property
Holdings Limited (EPH) announces the pricing for the upcoming issue
and offer of up to 5,050,000 new shares . Processed and transmitted
by Nasdaq Corporate Solutions. The issuer is solely responsible for
the content of this announcement.
8 November 2016, Road Town,
Tortola, BVI
Eastern Property
Holdings Ltd intends to issue and offer up to 5,050,000 new shares
(the "Offer Shares") for a consideration equaling the last reported
net asset value (as per 30 June 2016) in the amount of USD 38.18
per share.
Referring to the Company's press
release dated 1st November
2016, Eastern Property Holdings Ltd. (the "Company") herewith
informs that it intends to proceed with the issue and offer of the
Offer Shares at a price equaling USD 38.18 per share. The price is
the last reported net asset value per share (as per 30 June 2016)
and based on the following considerations of the management as well
as supported by a majority of the shareholders which expressed
willingness to acquire the Company's Offer Shares at mentioned
price.
-
The net asset value of the Company is based on
the market value of the Company's properties;
-
Due to the high profile income generating
properties in Moscow and the latest acquisition of a property in
Germany, the current portfolio demonstrates strong demand and high
profitability;
-
By investing in predominantly prime rental
properties EPH Group is less susceptible to sharp movements in the
macro economy or the industry;
-
EPH Group has diversified its risk through
owning assets across different commercial property sectors (office
and retail) with a diversified tenant mix (local and international)
and by the acquisition of a property in Germany;
-
EPH Group maintains a strong financial position
and reliable operating results.
According to the Company's
Memorandum and Articles of Association, the Offer Shares shall be
firstly offered to the existing shareholders pro-rata to their
shareholdings as held on the register of members on 7th November
2016, 5:30pm (Zurich time). Simultaneously, Offer Shares not taken
up by existing shareholders pursuant to the subscription rights
will be available for allocation to eligible investors by the
Company.
Each holder of ordinary shares
without par value (ISIN VGG290991014) of the Company as per
7th November
2016, 5:30pm (Zurich time) is entitled to subscribe for one offered
Offer Share per 1.0507 ordinary shares held by such shareholder.
The Company will not issue fractional shares pursuant to the offer
and therefore any fractional entitlement to such Offer Shares shall
be rounded down to the nearest whole number of Offer Shares.
The offer of the Offer Shares will
take place during 9th November and
5th December
2016. Further information on the offer of the Offer Shares
(offering circular and listing prospectus, subscription form etc.)
may be received from Valartis Advisory Services SA, St. Annagasse
18, 8001 Zürich (Tel: +41 44 503 5400 / E-Mail:
corporatefinance@valartis.ch).
The transaction is authorized
pursuant to the resolution of the board of directors of Eastern
Property Holdings Limited dated 1st November
2016 and advised by Valartis Advisory Services SA.
This announcement is for
information purposes only and does not constitute an invitation or
offer to acquire, purchase or subscribe for the securities of the
Company.
This announcement does not
constitute an offer to sell or the solicitation of an offer to buy
any securities in the United States or any other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The shares of the Company have not been registered
under the U.S. Securities Act and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements of the U.S. Securities Act. No public
offering will be made outside of Switzerland, including the United
States.
Eastern Property Holdings Ltd. is
an investment company listed on SIX Swiss Exchange which holds
interest in office, residential and retail properties. EPH is
managed by Valartis International Ltd. a wholly-owned subsidiary of
Valartis Group AG.
Additional information on Eastern
Property Holdings is available by contacting Anna Bernhart Tel: +41
44 503 5400.
Eastern Property Holdings announces
pricing for upcoming share issue
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Eastern Property Holdings Limited (EPH) via
Globenewswire
--- End of Message ---
Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA Geneva Switzerland
WKN: 250817;ISIN: VGG290991014;
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