CPI Property : Inside Information / Ad Hoc Information - CPI PROPERTY GROUP
O5G.DE
CPI Property Group (société anonyme) 40, rue de la Vallée L-2661Luxembourg
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: www.cpipg.com
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Disclaimer
CPI Property Group SA published this content on December 17, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 17, 2024 at 17:35:09.810.