Affine S.A. announces the successful completion of a private placement of 234,000 new shares of Affine, representing 9.97% of the outstanding share capital. After the private placement Affine has 2,581,461 shares outstanding. The stake of Holdaffine has decreased from 59.5% to 54.1%. As such the free float has increased to 45.9%.
The shares have been placed at a price of 82.50 to a group of international institutional investors, generating total gross proceeds of approximately 19.3 million. Affine expects settlement to occur on Monday 20 June 2005. Admission to listing and trading of the new shares on Eurolist B on Euronext Paris is expected to take place on the settlement date.
Kempen & Co acted as sole lead manager in this private placement to a group of international institutional investors.
Simultaneously, Forum European Realty Income has committed to subscribe at the latest on 28 June 2005 to an issue of approximately 10 million of non-listed convertible bonds ("Obligations Remboursables en Actions" or "ORAs").
The proceeds of these issues will be used to partially finance the 100 million commercial real estate acquisition program of the company in 2005.