Varia US Properties shareholders approve capital increase and cash dividend of CHF 2.10 – terms of capital increase announced

At today’s extraordinary general meeting in Zurich, the shareholders of Varia US Properties approved all motions proposed by the Board of Directors. A total of 4,312,093 shares, or 59.89% of shares with voting rights, were present or represented.

The ordinary capital increase to be used for the acquisition of promising real estate properties and the further enhancement of the portfolio in the USA was confirmed. 1,800,203 new shares will be issued. The total number of shares will be increased from currently 7,200,815 shares to a new maximum of 9,001,018 shares.

In the rights offering, the Company’s eligible holders of existing shares will be entitled to a pre-emptive right, i.e. existing shareholders will receive one subscription right for every registered share they hold. Four subscription rights will grant the right to subscribe for one new share. In the share offering, offered shares for which the pre-emptive rights have not been validly exercised will be offered at the offer price to the market. The offer price per new registered share was set at CHF 35.50.

The start of the rights exercise period in which the eligible holders of existing shares can exercise the pre-emptive right to subscribe for offered shares begins on 13 December 2017 and is expected to end on 11 January 2018, 12:00 noon (CET). The start of the share offering period also begins on 13 December 2017 and is expected to end on 11 January 2018, 16:00 (CET).

The listing and the first day of trading of the new registered shares on SIX Swiss Exchange, as well as the delivery of the new registered shares against payment of the offer price, are expected to take place on 16 January 2018.

Further details on the terms of the rights offering can be found in the Offering Circular published on 8 December 2017.

Distribution of a cash dividend confirmed

In addition, a cash dividend in the amount of CHF 2.10 per share from the reserves from capital contributions will be paid. This distribution will be equivalent to a reduction in the reserves from capital contributions of CHF 15,121,711.50. The ex-date for the dividend distribution is 12 December 2017; the distribution shall occur on 14 December 2017 (valuta).

Targeted dividend for 2018

The board of directors targets to propose a dividend distribution of CHF 2.50 per share for the fiscal year 2018 subject to reaching the anticipated results underlying such a target dividend and subject to the approval of the shareholders.

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