AFFINE (EPA:IML) Conversion of a portion of the Bonds redeemable in shares

Transparency directive : regulatory news

04/08/2015 18:00

Paris, 4 August 2015, 06:00 p.m.

           Conversion of a portion of the Bonds redeemable in shares

Affine announces that, at the request of some bondholders, 1,610 of the Bonds
redeemable in shares (BRSs) issued in 2003 were converted into 1,004,640 new
Affine shares on 31 July. These shares, assimilated with the existing ordinary
shares, will be listed on the market Euronext Paris as of 5 August 2015.

This increases the Group's total number of shares from 9,051,431 to 10,056,071,
with the floating component rising from 65% to 68% of its share capital.

All per-share financial aggregates published by the Company, such as EPRA
earnings per share, EPRA NAV per share, and EPRA NNNAV per share, calculated
taking account of the potential creation of these new shares, therefore remain
unchanged (with the exception of earnings per share, which will be adjusted).

It should also be noted that the BRSs have a coupon equal to the dividend paid
to shareholders. The dividend per share will therefore not be impacted by this
increase in the number of outstanding shares.

This operation will bring Affine's share capital from EUR53.5m to EUR59.5m and
will increase the issue premium by EUR10.1m, with shareholders' equity
remaining unchanged, since the issued BRSs are already included pursuant to the
applicable accounting rules.

ABOUT THE AFFINE GROUP

Affine is a real estate company specialising in commercial property. At the end
of June 2015, it directly owned 55 buildings with a total value of EUR5 70m
(excluding transfer taxes) for a total floor area of 528,500 sqm. The firm owns
office properties (53%), retail properties (22%) and warehouses and industrial
premises (25%). Its assets are distributed more or less equally between Ile-de
France and the other French regions.

Affine is also the major shareholder (49.5%) of Banimmo, a Belgian property
repositioning company with operations in Belgium and France. At the end of June
2015, Banimmo had total assets of 21 office and commercial buildings, with a
value of EUR384m (including transfer taxes).

Total Group assets are EUR988m (including transfer taxes).

In 2003, Affine opted for French real estate investment trust (SIIC) status. The
Affine share is listed on NYSE Euronext Paris (ticker: IML FP/BTTP.PA; ISIN
code: FR0000036105) and admitted to the deferred settlement system (long only).
It is included in the CAC Mid&Small, SIIC IEIF and EPRA indexes. Banimmo is also
listed on NYSE Euronext.

To find out more: www.affine.fr. Follow our news feed on:
https://twitter.com/GroupeAffine

CONTACT

INVESTOR RELATIONS                PRESS RELATIONS
Frank Lutz                        RPpublics - Alexandra Richert
+33 (0)1 44 90 43 53 -            +33 (0)1 45 23 55 01 -
frank.lutz@affine.fr              alexandra.richert@rppublics.com

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