VGP NV: Launch of Capital Increase of Approximately € 300 Million Via an Accelerated Bookbuild Offering
25 November 2021 - 12:15AM
VGP NV: Launch of Capital Increase of Approximately € 300 Million
Via an Accelerated Bookbuild Offering
NOT FOR
DISTRIBUTION IN
OR INTO THE
UNITED STATES OF
AMERICA, JAPAN,
CANADA, SOUTH AFRICA or
AUSTRALIA
24 November
2021,
2:15pm, Antwerp,
Belgium: VGP NV (‘VGP’ or ‘the Group’), a European
provider of high-quality logistics and semi-industrial real estate,
announces the following:
- VGP is launching a capital increase
in cash by means of a private placement of new shares via an
accelerated bookbuild offering to international institutional
investors (the ‘Capital Increase’)
- VGP is seeking to raise gross
proceeds in the Capital Increase of approximately € 300
million
- The accelerated bookbuild procedure
will start immediately after publication of this press release
- VGP has requested that trading of
VGP shares on the Euronext Brussels’ regulated market be suspended
until the results of the Capital Increase are published in a press
release, which is expected on or around Wednesday 24 November
2021
- The company 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
- The expected
gross proceeds from the Capital Increase have an estimated
pro-forma impact of (11.9%) on the gearing ratio reducing it to
18.5% based on a pro forma semi-annual balance sheet (from 30.4% as
at 30 June 2021)
VGP’s Chief Executive Officer, Mr. Jan
Van Geet, said “Through the capital raising today, we are
seeking to strengthen our capital base and provide ourselves
additional resources to pursue our strategy of capturing investment
opportunities whilst at the same time delivering on a significant
pre-committed pipeline. With a strong capital base, we are well
positioned to capitalize on opportunities for new business at
attractive margins across the countries in which we operate.”
STRUCTURE
- The Capital Increase shall take
place by means of a private placement via an accelerated bookbuild
offering to eligible investors through the Syndicate Banks
including to (i) qualified investors in the European Economic Area
and in the United Kingdom, as defined in Article 2(e) of the (UK)
Prospectus Regulation and in accordance with the prospectus
exemption provided in Article 1.4(a) of the (UK) Prospectus
Regulation, (ii) within Switzerland exclusively to investors that
qualify as professional clients within the meaning of the Swiss
Federal Act on Financial Services (Finanzdienstleistungsgesetz) of
15 June 2018, as amended (‘FinSA’) and (iii) in the United States,
to qualified institutional buyers, as defined in Rule 144A of the
US Securities Act of 1933, as amended (the ‘US Securities Act’), in
accordance with Rule 144A or any other available exemption from, or
in a transaction not subject to, the registration requirements of
the US Securities Act
- This Capital Increase shall take
place within the authorised capital, with cancellation of the legal
preferential subscription right of existing shareholders
- The final issue price and the final
number of new shares to be issued, shall be determined by VGP in
consultation with the Joint Global Coordinators
NEW SHARES
- The new shares shall be issued in
accordance with Belgian law and are ordinary shares that represent
the capital, in the same form as the existing shares. They shall
confer the same rights as the existing shares
- The new shares shall be entitled to
dividends from the moment of admission. The new shares therefore
confer the right to dividend payable
- As part of the Capital Increase,
VGP shall submit a request to Euronext Brussels for the admission
to trading of the new shares to be issued as a result of the
Capital Increase, and expects the new shares to be admitted to
trading on the Euronext Brussels’ regulated market immediately
after their issue, which is expected on or around Friday 26
November 2021
SYNDICATE
- J.P. Morgan AG and KBC Securities
SA/NV are acting 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’)
- As part of the
Capital Increase, VGP will be subject to a 180-day lock-up which
will be subject to customary exceptions and may only be waived with
the consent of the Joint Global Coordinators
EXPECTED CAPITAL INCREASE TIMETABLE
Launch of accelerated bookbuild and suspension of VGP shares during
trading |
Wednesday 24 November 2021 |
Accelerated bookbuild (intra-day) |
Wednesday 24 November 2021 |
Press release on the results of the accelerated bookbuild, the
issue price and the number of new shares to be issued – resumption
of trading of VGP shares (subject to acceleration/extension) |
Wednesday 24 November 2021 |
Definitive allocation of new shares |
Wednesday 24 November 2021 |
Payment for the new shares subscribed for |
Friday 26 November 2021 |
Determination of the realization of the Capital Increase and
delivery of new shares to subscribers |
Friday 26 November 2021 |
Admission to trading of the new shares on the regulated market of
Euronext
Brussels |
Friday 26 November 2021 |
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 - Launch Press Release (EN) 20211124
VGP NV (EU:VGP)
Historical Stock Chart
From Apr 2024 to May 2024
VGP NV (EU:VGP)
Historical Stock Chart
From May 2023 to May 2024