• Immobel SA/NV (“Immobel” or the “Company”) has successfully completed the private placement of 262,179 treasury shares (the “Shares”), representing c. 2.6% of Immobel’s current outstanding share capital to qualified international institutional investors (the “Placement”) by means of an accelerated bookbuilding process.
• The Shares have been placed at a price of €66 per share, resulting in gross proceeds for the Company of €17.3 million, which will be used to finance additional projects already identified in Belgium, Germany, France and Luxembourg.
• The Shares will be fully entitled to the dividend for the 2020 financial year to be approved by the Ordinary General Meeting on 15 April 2021.
• Joh. Berenberg, Gossler & Co.KG (“Berenberg”) and KBC Securities NV (“KBC Securities”) are acting as Joint Bookrunners in the private placement.
   

Immobel has successfully completed its sale of treasury shares announced earlier today. A total of 262,179 treasury shares, corresponding to c. 2.6% of Immobel’s current outstanding share capital, were placed at a price of €66 per Share. The price represents a discount of 2.9% compared to the last traded price of the Shares on 4 January 2021. Gross proceeds from the sale of the Shares for the Company amount to €17.3 million and will be used to finance additional projects already identified in Belgium, Germany, France and Luxembourg.

The Shares placed via the accelerated bookbuilding process will be fully entitled to the dividend for the 2020 financial year, to be approved by the Ordinary General Meeting on 15 April 2021, and will rank in all respects pari passu with existing Immobel shares. Following the sale of 262,179 treasury shares, the total number of shares entitled to the dividend will increase to 9,967,008 shares.

The Company has agreed to a lock-up of 90 days following the transaction, subject to customary exceptions.

Following the successful private placement, the free float will increase to c. 40.8% and Immobel will hold 30,348 remaining treasury shares, corresponding to c. 0.3% of Immobel’s current outstanding share capital. The remaining treasury shares are intended to be used in the context of management performance share plans. 

The private placement has been executed in accordance with article 8.7,2° of the Royal Decree implementing the Belgian Code for Companies and Associations.

Settlement of the placed treasury shares is expected to take place on 7 January 2021.

Berenberg and KBC Securities acted as Joint Bookrunners in the private placement.

Due to the private placement, trading in Immobel shares on the Regulated Market of Euronext Brussels has been suspended since this morning, but this will resume shortly after the publication of this press release.