Montea announces that it has realized today the (indirect) contribution in kind of the logistics property located in the business park "De President" in Hoofddorp, the Netherlands. The Statutory Manager approved the capital increase of € 8,824,999.15 in the framework of the authorized capital and the issuance of 203,107 new Montea shares.
- Montea closes the transaction relating to the logistics premises in the business park "De President" in Hoofddorp (NL) with a capital increase of € 8,824,999.15
Montea acquired a logistics building of 6,290m² and 108 parking places on business park “De President” in Hoofddorp, the Netherlands through its Dutch subsidiary Montea Nederland N.V. from Kenick Capital B.V. from Moerdijk. The acquisition took place through an (indirect) contribution in kind and the payment by means of the issuance of new Montea shares. The new shares were issued as a result of a capital increase within the framework of the authorized capital[1], by a decision of the Statutory Manager of Montea. Kenick Capital B.V. contributed its receivable on Montea Nederland N.V. to pay the purchase price for the acquisition of the aforementioned property. The transaction led to a strengthening of the equity of € 8,824,999.15, being an amount of € 4,139,320.66 share capital and an amount of € 4,685,678.49 issuance premium.
- Issue price, listing and profit sharing of the new shares
The consideration for the acquisition paid to the contributor consisted of 203,107 new Montea shares for a total amount of € 8,824,999.15. The issue price per new share applied in the context of this transaction is € 43.45. The 203,107 newly issued Montea shares are ordinary shares and have the same rights as the existing shares. The admission to trading of the new shares on Euronext Brussels and Paris will be requested as soon as possible.
The (indirect) contribution in kind provides for a strengthening of Montea's equity. The contribution in kind thus has a favorable effect on both the statutory and consolidated debt ratio of Montea, with a reduction of approx. 0.59% compared to the consolidated debt ratio as at 31 December 2017. This offers Montea the opportunity to realize its growth intentions further for the future. The strengthening of Montea's equity will also play a role in the assessment of its financial health by third parties (not only credit institutions, but also suppliers and customers), and will offer the possibility to carry out additional debt-financed transactions in the future. In structuring the transaction in this way Montea proactively manages its capital structure and maintains a buffer of credit facilities. In this way, the growth of the portfolio takes place through a healthy combination of different financing sources and the debt ratio remains under control.
Disclosure in accordance with Article 15 of the Law of 2 May 2007 (the Transparency Law)
Following the capital increase and the issue of new shares on 5 April 2018 in connection with the transaction relating to the Hoofddorp site in the Netherlands, the total share capital of Montea as of 5 April 2018 is € 240,762,770.66. The capital is represented by 11,813,638 fully paid-up ordinary shares. There are no preference shares or shares without voting rights, nor convertible bonds or warrants that give right to shares. Each of these shares gives a right to one vote at the general meeting of shareholders and these shares therefore represent the denominator for the purposes of notifications in the framework of transparency regulations (notifications in the event of reaching, exceeding or falling below statutory or statutory thresholds). The articles of association of Montea determine the thresholds whose overshoot gives rise to a notification obligation at 3%, 5% and each multiple of 5% of the total number of existing voting rights.
