Cofinimmo disposes of treasury shares and sells building in Gosselies (BE)

Cofinimmo announces having disposed of part of its treasury shares and having sold a small building in Gosselies.

Disposal of 129,973 Cofinimmo ordinary shares
As per 31.12.2004 the group Cofinimmo held 688,476 Cofinimmo ordinary shares in treasury representing 6.08% of the number of issued shares. The company disposed of 129,973 of these shares on the stock market over the period from January 7th till February 3rd 2005 at an average net share price of €124.28. Consequently the consolidated equity of the group has risen by €16.2 million, helping reconstitute the investment capacity of the group after the acquisition at the end of December 2004 of an office building located at Avenue de Maire 19 in Tournai, let to the Régie des Bâtiments (Federal State) for 18 years.

As a result, the number of shares held in treasury has dropped from 6.08% to 4.94%. As it fell under the threshold of 5%, a new shareholding declaration has been filed with the Banking, Finance and Insurance Commission today.

Sale of a building located in Gosselies
Cofinimmo announces furthermore that it has sold its building located at the rue du Tahon 37-41 in Gosselies. This operation concerns a small geographically isolated facility. The sale price was €932,000, which produced a capital loss of €15,000, or 2%, compared with the investment value of the building as per 31.12.2004.

Source: Cofinimmo

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