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InCity Immobilien AG: Successful Placement of Capital Increase

DGAP-News: InCity Immobilien AG / Key word(s): Capital Increase
InCity Immobilien AG: Successful Placement of Capital Increase

22.12.2010 / 15:51

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InCity Immobilien AG: Successful Placement of Capital Increase

- Widespread interest in subscription rights offer/Multiple
oversubscription
- Increase in share capital to EUR 5,625,000
- Gross issue proceeds of EUR 4,687,500

Cologne, 22 December 2010 - Using authorised capital in accordance with
Section 4 (3) of the Articles of Association, InCity Immobilien AG (symbol:
IC8) has fully placed its capital increase. With entry in the commercial
register, the share capital of the company is increased by EUR 1,875,000
from EUR 3,750,000 to EUR 5,625,000 in exchange for cash contributions. In
total, 1,875,000 new ordinary no-par-value bearer shares, each amounting to
EUR 1.00 of the share capital and having a dividend entitlement for the
2010 financial year, were issued at a subscription price of EUR 2.50 per
share.

At what the company considers to be an attractive subscription price of EUR
2.50 per share, the transaction raised widespread interest among investors
in German-speaking countries, and was multiply oversubscribed. Unsubscribed
shares were placed with institutional investors by Close Brothers Seydler
Bank AG, which supported the capital increase as sole lead manager and sole
bookrunner, in the context of private placement.

Implementation of the capital increase will be recorded in the commercial
register today. Entry in the register will be followed by the inclusion of
the new shares in the Entry Standard (sub-segment of the Open Market with
additional transparency requirements) of Deutsche Börse AG.

´As announced, we will invest the gross issue proceeds of EUR 4,687,500 in
the further growth of InCity Immobilien AG. In line with our new strategy,
we have accredited more regionally operating property developers as InCity
partners. This is the key requirement for concluding further highly
profitable project financing deals, which can be expected within the next
few weeks. We would like to thank our shareholders for their confidence in
the future of InCity Immobilien AG, and look forward to a long-term
partnership´, says Jürgen Oppelt, CEO of InCity Immobilien AG.

´The share price development of the past year was a painful experience for
many shareholders. With the attractive subscription offer, we wanted to
thank all our shareholders for their faith in the new business model and
the new team. In addition to our biggest shareholder, the DYVA Group, many
of the existing shareholders fully exercised their subscription rights.
However, several new investors also used the opportunity to participate in