Novavest plans capital increase

Novavest Real Estate AG, listed on the BX Berne eXchange, intends to carry out an ordinary capital increase in the period from September 14 to 29, 2016, subject to subscription rights. The issue volume amounts to a maximum of CHF 30.07 million. The subscription ratio is 3 to 1; thus, three existing registered shares entitle to subscribe to one new registered share.

The issue price is still to be determined by the Board of Directors. There will be no trading in subscription rights. New shares not subscribed in the rights offering will be allocated to Bank J. Safra Sarasin Ltd. for further allocation to investors.

In view of this ordinary capital increase, the Board of Directors will convene an Extraordinary General Meeting on August 29, 2016 and propose the creation of up to 876,607 registered shares with a par value of CHF 34.30 as a result of the capital reduction by par value repayment completed by then (in accordance with the resolution of the Ordinary General Meeting of May 4, 2016) per registered share.

At the same time, CHF 5.0 million of currently outstanding 4 percent mandatory convertible bond 2016 is expected to be converted into a maximum of 145,772 registered shares with a nominal value of CHF 34.30 as part of the capital increase on October 6, 2016. The first trading day of the new registered shares from the ordinary capital increase and from the capital increase from conversion of the mandatory convertible bond is scheduled on the BX Berne eXchange on October 10, 2016. (mr)