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ADLER Real Estate AG: ADLER Real Estate AG remains on growth path

ADLER Real Estate AG / Key word(s): AGM/EGM

2015-05-22 / 13:37

Corporate News

ADLER Real Estate AG remains on growth path

- Annual General Meeting approves updating of capital structure

- Ongoing discussions on acquisition of additional portfolios

- Growth in portfolio to over 50,000 residential units at middle of year

Hamburg, 22 May 2015. ADLER Real Estate AG (ISIN: DE0005008007 / WKN: 500800), Frankfurt am Main, remains on its path of steady growth. With only a few 'no' votes and attendance of 45.3%, the company's Annual General Meeting on Friday confirmed key conditions which will allow ADLER to continue to have optionality in implementing future acquisitions. During the meeting, CEO Axel Harloff emphasised that the company has a strong interest in continuing to expand its property portfolio. In 2014 ADLER more than tripled its property portfolio from approximately 7,800 residential units to over 24,000. This year, the property portfolio will increase to in excess of 50,000 units following the acquisition of WESTGRUND AG, Berlin, which is set to complete around the middle of the year. However, Harloff stressed that further acquisitions would be considered in line with the company's event driven /special opportunities focus and by the quality of available assets.

The Annual General Meeting approved the updating of the existing capital structure so that in the event of future acquisitions, ADLER will be able to implement future corporate actions in a timely and strategic manner. For this purpose, during the Annual General Meeting a resolution was made to authorise changes to the share capital in order to meet potential changes to the capital structure on one or more occasions amounting to a total of up to EUR 13.3 million in exchange for cash and/or non-cash contributions, with the option of not applying the statutory pre-emptive subscription rights. It was further resolved that ADLER be authorised to issue bearer or registered bonds with warrants and/or convertible bonds with a total nominal amount of up to EUR 250 million, a maximum term of ten years, and to grant warrants or conversion rights to the holders of these bonds and/or convertible bonds for up to a total of 7.6 million new no-par value bearer shares, in accordance with the specific terms of the bonds with warrants and/or convertible bonds in the period up to and including 21 May 2020. "Past experience has already shown that with this capital structure we will be flexible enough to seize the opportunities on the market that are so important for our company and its growth," said Harloff.

ADLER began its growth three years ago with its repositioning itself as a residential real estate company focusing on event-driven and special situation opportunities. During this period, total assets increased from circa EUR 30 million to circa EUR 1.7 billion. At the same time, the company's revenue, income and assets also expanded significantly. In the first quarter of the 2015 financial year, ADLER's consolidated net profit doubled to a level of EUR 42.9 million.

For enquiries, please contact:

PRESS: german communications dbk ag
Jörg Bretschneider
Milchstr. 6 B, 20148 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80

INVESTOR RELATIONS: Hillermann Consulting
Christian Hillermann
Poststraße 14, 20354 Hamburg
Tel.: 040/32 02 79 10, Fax: 040/32 02 79 114


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