ALTAREA (EPA:ALTA) - Success of the €210 million share capital increase, taking to €369 million the total amount of equity raised since the beginning of 2016

Transparency directive : regulatory news

13/06/2016 17:50

This press release must not be published, distributed or diffused, directly
or indirectly, in the territory of the United States of America, Canada,
Australia or Japan

PRESS RELEASE

                                                           13 June 2016, 17:35

    Success of the EUR210 million share capital increase, taking to EUR369
   million the total amount of equity raised since the beginning of 2016(1)

                       Total demand of EUR276 million
                        Subscription ratio of 131%

Altarea Cogedim announces today the success of its capital increase, following
the subscription period ending on 3 June 2016. Total subscriptions represented
1.3 times the amount of the capital increase.

The EUR210 million of proceeds raised will strengthen Altarea Cogedim's equity
capital and take to EUR369 million the total amount of equity raised since the
beginning of 2016(1).

The Group now has additional financial resources that will allow it to pursue
development strategy, while maintaining a solid financial structure.

Alain Taravella, founding CEO of Altarea Cogedim, commented: "The success of
the capital increase testifies to the support of our shareholders for the
growth strategy of Altarea Cogedim. Our balanced business model, creating long
term value, allows us to reiterate our objective of group share FFO increasing
by 15% to 20% in 2016, as well as dividend distribution of at least EUR11 for
the next two years. I would like to thank our shareholders for their support
and loyalty to the company and for embracing its development plan. "

Transactions Highlights

The share capital increase with preferential subscription rights ("PSR") to
existing shareholders was launched on 20 May 2016 with the subscription period
ending on 3 June 2016.

Gross proceeds amount to EUR210,423,920 and results in the issuance of
1,503,028 new shares at a price of EUR140.

Total demand, which amounted to EUR275.6 million, was greater than the
targeted proceeds of EUR210 million, corresponding to a subscription ratio of
131%. 1,484,329 new shares were subscribed on a basis not subject to reduction
("à titre irréductible"), representing 98.76% of the total number of new
shares. The subscriptions subject to reduction ("à titre réductible")
represented 484,549 new shares and will therefore only be partially served,
in an amount of 18,699 new shares.

(1) Reserved share capital increase of EUR31.7 million as part of the purchase
of Pitch Promotion, share capital increase of EUR126.9 million in connection
with the option to pay the 2015 dividends in shares, and the rights issue of
EUR210.4 million.

Settlement-delivery and admission to trading on Euronext Paris of the new
shares will take place on 15 June 2016 on the same listing segment as the
existing shares (ISIN Code FR0000033219). The news shares will entitle holders
to current dividend rights.

Following the transaction, the share capital of Altarea Cogedim will be divided
in 15,030,287 shares.

Morgan Stanley and Société Générale Corporate & Investment Banking acted as
Global Coordinators, Lead Managers and Joint Bookrunners on the transaction.

The prospectus relating to this transaction was approved by the Autorité des
Marchés Financiers (the "AMF") on 19 May 2016 under visa n°16-185. Altarea
Cogedim draws the public's attention to the risk factors described in the
prospectus.

Financial Calendar

Release of half-year results: Thursday 28 July post market close.

About Altarea Cogedim - FR0000033219 - ALTA

Altarea Cogedim is a leading property group. As both a commercial land owner
and developer, it operates in all three classes of property assets: retail,
residential and offices. It has the know-how in each sector required to design,
develop, commercialize and manage made-to-measure property products. With
operations in France, Spain and Italy, Altarea Cogedim manages a shopping
center property portfolio of EUR4.4 billion. Listed in compartment A of
Euronext Paris, Altarea had a market capitalization of EUR2.2 billion at 30 May
2016 (before the capital increase).

Contacts Altarea Cogedim                 Contacts Citigate Dewe Rogerson
Eric DUMAS, Chief Financial Officer      Nicolas CASTEX, Press Relations
edumas@altareacogedim.com,               nicolas.castex@citigate.fr,
Tel: +33 1 44 95 51 42                   Tel: + 33 1 53 32 78 94

Catherine LEROY,
Analyst and Investor Relations
cleroy@altareacogedim.com,
Tel : +33 1 56 26 24 87

Disclaimer

This press release and the information contained herein do not constitute
either an offer to sell or purchase or the solicitation of an offer to sell or
purchase the Company's new shares or preferential subscription rights, in any
country whatsoever. In France, these new shares or preferential subscription
rights may not be offered absent a prospectus approved by the AMF.
The diffusion of this press release in some jurisdictions may constitute a
violation of applicable laws and regulations. People physically present in
these jurisdictions in which this press release is distributed shall get
informed about such restrictions and comply with them.
With respect to each Member State of the European Economic Area other than
France (the "Member State") which has implemented the directive 2003/71/EC, as
amended, in particular by Directive 2010/73/EU and to the extent implemented in
the Member State, (the "Prospectus Directive"), no action has been undertaken
or will be undertaken to make an offer to the public of new shares or
preferential subscription rights requiring a publication of a prospectus in any
Member State. As a result, new shares or preferential subscription rights may
only be offered in Member States pursuant to an exemption under the Prospectus
Directive. Securities mentioned in this press release may not be offered or
sold in the United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended. Altarea Cogedim
does not intend to register any portion of the planned offer in the United
States of America or to conduct a public offering of securities in the United
States of America.
This press release does not contain or constitute an invitation, inducement or
solicitation to invest in the United Kingdom. This press release is directed
only at and is for distribution only to persons who (i) are outside the United
Kingdom, (ii) are "investment professionals" falling within Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(as amended) (the "Order"), (iii) are persons falling within Article 49(2)(a)
to (d) ("high net worth companies, unincorporated associations etc.") of the
Order or (iv) are other persons to whom an invitation or inducement to engage
in investment activity (within the meaning of the Financial Services and
Markets Act 2000) in connection with the issue or sale of any securities may
otherwise lawfully be communicated or caused to be communicated (all such
persons in (i), (ii), (iii) and (iv) together being referred to as "Relevant
Persons"). Any investment or investment activity to which this press release
relates is available only to Relevant Persons and will be engaged in only with
Relevant Persons.
This press release may not be published, distributed or diffused, directly or
indirectly, in the United States of America, Canada, Australia, or Japan.

www.altareacogedim.com

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ALTAREA (EPA:ALTA) - Success of the €210 million share capital increase, taking to €369 million the total amount of equity raised since the beginning of 2016

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