CPI PROPERTY GROUP / LU0251710041
30.11.2023 - 18:59:26CPI PROPERTY GROUP – Results of the Share Buy-back Offer
| CPI PROPERTY GROUP / Key word(s): Share Buyback 30.11.2023 / 18:59 CET/CEST The issuer is solely responsible for the content of this announcement. CPI Property Group (société anonyme) 40, rue de la Vallée L-2661 Luxembourg R.C.S. Luxembourg: B 102 254 Press Release - Corporate News Luxembourg, 30 November 2023 On 20 November 2023, CPI PROPERTY GROUP (“CPIPG” or the “Company”) announced the intention to purchase up to 105,000,000 shares under CPIPG’s share buy-back programme (the "Offer"). At the closing of the Offer period, shareholders of the Company presented a total of 85,327,468 shares for tender at a price of €0.932 per share for a total of about €79.5 million. Approximately 84.2 million shares were tendered by Clerius Properties (Apollo), with a small amount tendered by management. CPIPG’s primary shareholder, Radovan Vitek, did not tender any shares. The Company believes that consistency is key as we establish a track record as an equity issuer, which is important as the group keeps all options open to reduce leverage. While the Company's distribution policy calls for distributing 65% of consolidated FFO1, for 2023 the distribution ratio was prudently reduced to 25% with the actual distribution around 20% of FFO1. In line with the terms of the Offer, the Company anticipates the signing of share transfer agreements on 5 December 2023. The Company will announce the completion of the buy-back upon the acquisition of the tendered shares. For further information, please contact: Investor Relations Moritz Mayer m.mayer@cpipg.com For more on CPI Property Group, visit our website: www.cpipg.com Follow us on X (CPIPG_SA) and LinkedIn 30.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | CPI PROPERTY GROUP |
| 40, rue de la Vallée | |
| L-2661 Luxembourg | |
| Luxemburg | |
| Phone: | +352 264 767 1 |
| Fax: | +352 264 767 67 |
| E-mail: | contact@cpipg.com |
| Internet: | www.cpipg.com |
| ISIN: | LU0251710041 |
| WKN: | A0JL4D |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart |
| EQS News ID: | 1786997 |
| End of News | EQS News Service |
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