Tuesday, 02 January 2024 12:17 GMT

CPI PROPERTY GROUP – Results Of The Share Buy-Back Offer


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EQS-News: CPI PROPERTY GROUP / Key word(s): Share Buyback/Real Estate
CPI PROPERTY GROUP – Results of the Share Buy-back Offer
17.12.2024 / 18:01 CET/CEST
The issuer is solely responsible for the content of this announcement.

CPI Property Group

(société anonyme)

40, rue de la Vallée

L-2661 Luxembourg

R.C.S. Luxembourg: B 102
254































Press Release - Corporate News


Luxembourg, 17 December 2024


CPI PROPERTY GROUP – Results of the Share Buy-back Offer


On 12 December 2024, CPI PROPERTY GROUP (“ CPIPG ” or the“ Company ”) announced the intention to purchase up to 185,000,000 shares under CPIPG's share buy-back programme (the " Offer ").


At the closing of the Offer period, shareholders of the Company presented a total of 182,918,766 shares for tender at a price of €0.794 per share for a total of about €145 million.


While the Company's distribution policy calls for distributing 65% of consolidated FFO1 via share buybacks, for 2024 the distribution ratio was prudently reduced to 37% of FFO1. CPIPG has now cut the distribution ratio for three consecutive years as part of the Group's efforts to reduce leverage.


Clerius Properties (Apollo) tendered about 137 million shares. Larnoya Invest, an entity associated with the Vitek Family Trust, tendered 41 million shares. The remainder was tendered by management.


In line with the terms of the Offer, the Company anticipates the signing of share transfer agreements on 18 December 2024. The Company will announce the completion of the buy-back upon the acquisition of the tendered shares.



For further information, please contact:


Investor Relations

Moritz Mayer

Manager, Capital Markets

...

For more on CPI Property Group, visit our website:

Follow us on X (CPIPG_SA) and LinkedIn


17.12.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at

Language: English
Company: CPI PROPERTY GROUP
40, rue de la Vallée
L-2661 Luxembourg
Luxemburg
Phone: +352 264 767 1
Fax: +352 264 767 67
E-mail: ...
Internet:
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart
EQS News ID: 2053235


End of News EQS News Service

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