Montea has reached an agreement with Kenick Capital B.V. on the acquisition of a logistics building of 6,290 m² and 108 parking places on “De President” business park in Hoofddorp, the Netherlands.
The current tenant Idexx Europe B.V. will continue to rent the premises after the transfer of ownership under the current lease, which is for a fixed term until 30 June 2029 and will generate gross rental income of €650,000 per year. This transaction represents a net initial yield of 6.95%. This deal will strengthen Montea Comm. VA's equity by €8,8m, which corresponds to the investment value excluding transfer costs (€529,500).
A contribution agreement was signed on March 29. The contribution in kind will be remunerated by the issue of new Montea shares at an issue price per share equal to the volume-weighted average price of the Montea share on the Euronext Brussels market during 30 calendar days before the contribution date, minus the gross dividend still due for the period from 1 October 2017 to 31 December 2017, which is payable in May/June 2018 (coupon n° 19), namely a gross amount of €0.54 per share (to be approved by the annual general meeting of shareholders of 15 May 2018). The new shares will share in the profit as of 1 January 2018.
