DGAP-News

CPI PROPERTY GROUP holds its course set - steady growth, successful acquisitions and decreasing cost of capital

DGAP-News: CPI PROPERTY GROUP / Key word(s): 9-month figures
CPI PROPERTY GROUP holds its course set - steady growth, successful
acquisitions and decreasing cost of capital

27.11.2015 / 08:04
The issuer is solely responsible for the content of this announcement.

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CPI PROPERTY GROUP holds its course set - steady growth, successful
acquisitions and decreasing cost of capital

Corporate news

Acquisition of 16.7% of own shares

- On 25 September 2015 the CPI PROPERTY GROUP ("CPI PG" or the "Company",
and together with its subsidiaries the "Group") and its major
shareholder, Mr. Radovan Vítek entered into an agreement, pursuant to
which the Company acquired 550,694,915 of its own shares indirectly
held by Mr. Vítek via his company Mondello, a.s. In consideration for
the share buyback, Mr. Vítek obtained a combination of monetary
receivables that do not form core business of the Company and Company
bonds.

- The acquisition of own shares was completed under the buyback framework
approved by the Company's extraordinary general meeting held on 28
August 2014. The acquired shares will be held as treasury shares, the
voting rights and right to dividend related to them will be suspended
as long as they are held by the Company.

- After this transaction Mr. Vítek's stake on the share capital of
Company represents 75.47% but given that 550,694,915 shares have
suspended voting rights as long as they are held by the Company, Mr.
Vítek still indirectly holds 90.57% of the voting rights.

- This transaction is a step carried out in order to enhance transparency
of the Group asset portfolio and thus beneficial for a wide range of
users of Group financial statements in making economic decisions.

Portfolio highlights

Acquisition of 4 star hotel in Rome

- On 5 November 2015 the Group acquired the 4 star hotel in Rome by means
of the acquisition of a hotel business conducted under the name
"Holiday Inn Rome - Eur Parco dei Medici" of Rome for an aggregate
acquisition price of EUR 32 million. The acquisition is financed by
UniCredit bank.

Acquisition of Crans-Montana ski resort in Switzerland

- On 30 October 2015 the Group completed a transaction comprised of the
direct acquisition of 65.83% of shares in Remontées Mecaniques
Crans-Montana-Aminona (CMA) SA ("CMA SA"), a Swiss entity holding and
operating cable cars in the Crans-Montana ski resort and of 88.49% of
shares in CMA Immobilier SA, a Swiss entity holding certain real estate
and rights to develop a hi-end hotel complex including spa, congress