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Deutsche Wohnen AG: Deutsche Wohnen reserves the right for cash instead of share settlement of outstanding convertible bonds

DGAP-News: Deutsche Wohnen AG / Key word(s): Offer
Deutsche Wohnen AG: Deutsche Wohnen reserves the right for cash instead of
share settlement of outstanding convertible bonds

29.01.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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Deutsche Wohnen reserves the right for cash instead of share settlement of
outstanding convertible bonds

Frankfurt am Main/Berlin, 29 January 2016. Deutsche Wohnen reserves the
right to a cash settlement instead of delivery of shares to the owners of
its two convertible bonds in case of a possible change of control, in line
with the bonds' terms and conditions. The bond holders have been informed
accordingly by Deutsche Wohnen today.

This is Deutsche Wohnen's reaction to the recent changes in the offer
conditions by Vonovia. Vonovia had lowered the minimum acceptance threshold
to 44 per cent of the outstanding shares at the end of the offer period.
Vonovia thereby tries to gain control over Deutsche Wohnen with the support
of convertible bond holders and tries to evade the vote of the
shareholders.

"We cannot accept that Vonovia, despite numerous confirmations, is not
willing to accept the vote of Deutsche Wohnen shareholders", says Michael
Zahn, CEO of Deutsche Wohnen.

Deutsche Wohnen reserves the right using a cash settlement option instead
of delivery of shares to the convertible bond holders in order to avoid a
distortion of the shareholders' vote regarding the success of Vonovia's
offer. This decision is made in the spirit of shareholder democracy. It
ensures that Vonovia has to convince at least 50 per cent of Deutsche
Wohnen shareholders of their hostile offer even after the change of the
offer conditions. Management Board and Supervisory Board of Deutsche Wohnen
continue to believe that the majority of shareholders will reject the
Vonovia offer given the inadequacy of the proposed consideration.


Deutsche Wohnen

Deutsche Wohnen is one of the largest publicly listed property companies in
Germany and Europe with a business focus on managing and developing its
residential property portfolio. As at 30 September 2015 the portfolio
comprised a total of 149,100 units, of which 147,000 are residential units
and 2,100 commercial properties. The company is listed in the Deutsche
Börse's MDAX and is also included in the leading indices EPRA/NAREIT and
GPR 100.


Important Notice

This publication represents neither an offer for sale nor request for
purchase of securities.

Any statements regarding the future in this document do not represent any
facts and use terms such as "will", "expected", "believe", "estimate",
"intend", "strive", and "assume" and other similar phrases. The statements
express the intention, views and current expectations and assumptions of
Deutsche Wohnen and parties acting in concert with Deutsche Wohnen. The
statements directed at the future are based on current planning, estimates
and forecasts, which Deutsche Wohnen and the parties acting in concert with
Deutsche Wohnen have made to the best of their knowledge but do not contain
any statement about their future validity. Future-based statements are
subject to risks and uncertainties, which are generally difficult to
predict and are generally not in Deutsche Wohnen's sphere of influence or
that of the parties acting in concert with Deutsche Wohnen. Please note
that the actual results or events may deviate substantially from those
provided in or removed from the future-based statements.




Contact:
Phone [phone]
Fax [phone]
[e-mail]


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29.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6
WKN: A0HN5C
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart


End of News DGAP News Service
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432899 29.01.2016