COVIVIO HOTELS (EPA:COVH) - Successful completion of Foncière des Murs €97.4 million rights issue

Transparency directive : regulatory news

29/10/2010 08:42

Not to be distributed in the United States of America, Canada, Australia,
                         United Kingdom, Italy or Japan

                                   Press Release

                                                      Paris, October 29th 2010

    Successful completion of Foncière des Murs EUR97.4 million rights issue

The share capital increase with preferential subscription rights launched by
Foncière des Murs on October 12th has been a great success. The final gross
proceeds amount to EUR 97,394,505corresponding to the issue of 6,492,967 new
shares.

The total demand for this capital increase amounted to approximately EUR 100
million, corresponding to a subscription rate of 102.7%. 6,475,716 new shares
were subscribed by irreducible (irréductible) subscription orders, representing
99.7% of the total number of new shares to be issued. Reducible (réductible)
subscription orders amounted to 194,155 shares and will therefore be partially
allocated up to 17,251 new shares.

In accordance with their commitment, the main shareholders of Foncière des Murs
(Foncière des Régions, Prédica, Pacifica, Generali Vie, CARDIF Assurance Vie
and ACM Vie), collectively holding 90.37% of the capital, subscribed to their
current share ownership by irrevocable entitlement (irréductible). As a
consequence, their respective shareholding remains unchanged.

The proceeds from the capital increase will primarily be used to partly finance
the purchase of the hotels run by B&B as well as the deal recently signed with
Accor and carried out in partnership with Prédica. It will also allow Foncière
des Murs to increase its financial flexibility.

Settlement and delivery of the new shares will take place on November 2nd, 2010.
The listing of the new shares on the regulated market of NYSE Euronext in Paris
on the same quotation line as the existing shares (FR0000060303) will take place
on November 2nd, 2010.

As from this date, the share capital of Foncière des Murs will be composed of
56,438,939 shares with a nominal value of EUR 4 each, representing a total share
capital of EUR 225,755,756.

The transaction was managed by Crédit Agricole Corporate & Investment Bank and
Société Générale Corporate & Investment Banking, acting as Joint Lead
Managers and Joint Bookrunners.

Information available to the public

A French language prospectus including (i) the reference document (document de
référence) of Foncière des Murs filed with the Autorité des marchés
financiers (AMF) on April 1st, 2010 under no. D.10-0217, (ii) the update of the
reference document filed with the AMF on October 7th, 2010 under no.
D.10-0217-A01, and (iii) a securities notes (note d'opération) (which includes
the summary of the prospectus) filed with the AMF on October 7th, 2010 under no.
10-355 are available free of charge from Foncière des Murs, 30 avenue Kléber,
75116 Paris, on the Company website (www.foncieredesmurs.fr), on the web site of
the AMF (www.amf-france.org) as well as from the Joint Lead Managers and Joint
Bookrunners.

Foncière des Murs draws attention to the risk factors included in the reference
document filed with the AMF.

About Foncière des Murs

Foncière des Murs, a subsidiary of Foncière des Régions, is a French listed
real estate investment trust (SIIC) specialised in business premises, especially
in the hotel, restaurant, health and leisure sectors. The company's investment
policy is focused on building partnerships with leading operators in their
sectors in order to provide its shareholders with a recurring return on their
investment.

Foncière des Murs is listed on compartment B of the regulated market of NYSE
Euronext in Paris (FR0000060303-FMU).
www.foncieredesmurs.fr

Press contact

FONCIERE DES MURS
Dominique Ozanne - Deputy General Manager
Tel: + 33 (0)1 58 97 54 20
dominique.ozanne@fdr.fr

This announcement is not an offer of securities for sale in the United States of
America or in any other jurisdiction. Securities may not be offered or sold in
the United States of America absent registration or an exemption from
registration. Foncière des Murs does not intend to seek registration or an
exemption from registration, nor to make an offer of securities for sale, in the
Unites States of America. Copies of this announcement are not being, and should
not be, distributed in or sent to the United States of America, Canada,
Australia, Italy or Japan.

No communication and no information in respect of Foncière des Murs' share
capital increase with preferential subscription rights may be distributed to the
public in any jurisdiction where a registration or approval is required. No
steps have been or will be taken in any jurisdiction where such steps would be
required. The issue, the exercise or the sale of preferential subscription
rights and the subscription for or the purchase of new shares or preferential
subscription rights may be subject to specific legal or regulatory restrictions
in certain jurisdictions. Foncière des Murs assumes no responsibility for any
violation of any such restrictions by any person.

This announcement is not a prospectus within the meaning of Directive
2003/71/EC, as implemented in each Member State of the European Economic Area
(the "Prospectus Directive").

The offer is open to the public in France following the delivery of the visa on
the Prospectus by the French Autorité des marchés financiers.

With respect to the member States of the European Economic Area which have
implemented the Prospectus Directive (each, a "relevant member State"), other
than France, no action has been undertaken or will be undertaken to make an
offer to the public of the securities requiring a publication of a prospectus in
any relevant member State. As a result, the securities may only be offered in
relevant member States: (a) to legal entities which are authorized or regulated
to operate in the financial markets or, if not so authorized or regulated, whose
corporate purpose is solely to place securities; (b) to any legal entity which
has two or more of the following criteria: (1) an average of more than 250
employees during the last financial year; (2) a total balance sheet of more than
EUR 43 million; and (3) an annual net turnover of more than EUR 50 million, as
per its last annual or consolidated accounts; (c) in any other circumstances,
not requiring the issuer to publish a prospectus as provided under article 3(2)
of the Prospectus Directive.

The distribution of this press release is not made, and has not been approved,
by an "authorised person" within the meaning of Article 21(1) of the Financial
Services and Markets Act 2000. As a consequence, this press release is directed
only at persons who (i) are located outside the United Kingdom, (ii) have
professional experience in matters relating to investments and fall within
Article 19(5) ("investment professionals") of the Financial Services and Markets
Act 2000 (Financial Promotions) 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 persons to whom this
press release may otherwise lawfully be communicated (all such persons together
being referred to as "Relevant Persons").The securities are directed only at
Relevant Persons and no invitation, offer or agreements to subscribe, purchase
or otherwise acquire securities may be proposed or made other than with Relevant
Persons. Any person other than a Relevant Person may not act or rely on this
document or any provision thereof. This press release is not a prospectus which
has been approved by the Financial Services Authority or any other United
Kingdom regulatory authority for the purposes of Section 85 of the Financial
Services and Markets Act 2000.

This press release does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States of
America. The preferential subscription rights and the new shares of Foncière
des Murs have not been and will not be registered under the U.S. Securities Act
of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold,
directly or indirectly, within the United States of America except pursuant to
an exemption from or in a transaction not subject to, the registration
requirements of the Securities Act. Foncière des Murs does not intend to
register any portion of the proposed offering in the United States of America
nor to conduct a public offering of securities in the United States of
America.
The distribution of this document in certain countries may constitute a breach
of applicable law. The information contained in this document does not
constitute an offer of securities for sale in the United States of America,
Canada, Australia, Italy or Japan.
This press release may not be published, forwarded or distributed, directly or
indirectly, in the United States of America, Canada, Australia, United Kingdom,
Italy or Japan.

COVIVIO HOTELS's latest news

16/05/2024 18:20

COVIVIO HOTELS (EPA:COVH) - Successful completion of Foncière des Murs €97.4 million rights issue

Transparency directive : regulatory news

COVIVIO HOTELS's latest news

Other stories