Aareal Bank strengthens its capital base by € 85 million (DE)

  • Aareal Holding Verwaltungsgesellschaft mbH fully subscribes to a 10% capital increase, boosting its interest to 46.14%
  • Issue price of € 24.00 above the current market price

As announced on 30 August 2004, Aareal Bank will strengthen its capital base by way of a 10% capital increase, excluding shareholders’ pre-emptive subscription rights. Aareal Holding Verwaltungsgesellschaft mbH has subscribed to the full amount of this capital increase, as a result of which its interest in Aareal Bank will increase from 40.75% to 46.14%.
Specifically, Aareal Holding will purchase 3,533,484 shares at a price of € 24.00
per share. This represents a premium compared to the current market level (Xetra
closing price on 16 September 2004: € 23.75) and versus the weighted average
prices for the last five and ten exchange trading days (approx. € 23.50 and € 23.05, respectively), and is a clear indication of Aareal Holding’s support for, and
confidence in, the Aareal Bank Group. Mr. Volker Arndt, Managing Director of Aareal
Holding, emphasized: “We are convinced by Aareal Bank’s business model, and we
consider the bank to be a good investment.”
Aareal Bank AG had been authorised by a resolution of the Annual General Meeting
held on 16 June 2004 to increase its capital, excluding shareholders’ pre-emptive
subscription rights. The registration of the capital increase in the Commercial Register
is intended to take place during September 2004.

Source: Aareal Bank AG

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