CPI PROPERTY GROUP / LU0251710041
17.12.2024 - 18:01:53CPI PROPERTY GROUP – Results of the Share Buy-back Offer
| CPI PROPERTY GROUP / Key word(s): Share Buyback/Real Estate 17.12.2024 / 18:01 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, 17 December 2024 On 12 December 2024, CPI PROPERTY GROUP (“CPIPG” or the “Company”) announced the intention to purchase up to 185,000,000 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 182,918,766 shares for tender at a price of €0.794 per share for a total of about €145 million. While the Company's distribution policy calls for distributing 65% of consolidated FFO1 via share buybacks, for 2024 the distribution ratio was prudently reduced to 37% of FFO1. CPIPG has now cut the distribution ratio for three consecutive years as part of the Group’s efforts to reduce leverage. Clerius Properties (Apollo) tendered about 137 million shares. Larnoya Invest, an entity associated with the Vitek Family Trust, tendered 41 million shares. The remainder was tendered by management. In line with the terms of the Offer, the Company anticipates the signing of share transfer agreements on 18 December 2024. 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 Manager, Capital Markets m.mayer@cpipg.com For more on CPI Property Group, visit our website: www.cpipg.com Follow us on X (CPIPG_SA) and LinkedIn 17.12.2024 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: | 2053235 |
| End of News | EQS News Service |
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