CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254                                                                                     

Press Release - Corporate News

Luxembourg, 30 November 2022

CPI PROPERTY GROUP – Completion of the Share Buy-back Offer

On 9 November 2022, CPI PROPERTY GROUP (“CPIPG” or the “Company”) announced the intention to purchase up to 200,000,000 shares under CPIPG’s share buy-back programme (the "Offer"). On 22 November 2022, the Company announced that at the closing of the Offer period, shareholders of the Company presented a total of 198,057,539 shares for tender. Due to a technical issue, an additional 7,500 shares were also subsequently admitted to the Offer.  Accordingly, the final number of shares tendered in the buy-back was 198,065,039 shares (the "Tendered Shares").

The Company now announces the completion of the acquisition of 198,065,039 Tendered Shares for an aggregate price of EUR 190,340,502.48 (or EUR 0.961 per Tendered Share).  CPIPG intends to cancel the Tendered Shares through a share capital reduction at the next general meeting.

Of the total, 184,587,371 shares were tendered by Larnoya Invest, a company owned by CPIPG's primary shareholder, Radovan Vitek, for an aggregate price of EUR 177,388,463.53. This transaction represents a related party transaction for the purposes of the Shareholders Rights Directive II.  Consistent with past practice, CPIPG expects that a meaningful portion of the cash received by Mr. Vitek will be used to repay shareholder loans drawn since the Company’s last share buy-back was conducted in February 2021. The rest of the shares were tendered primarily by Clerius Properties (Apollo), with a small amount tendered by management and a minority shareholder.

As a result of these transactions, the Company has acquired own shares not exceeding 5% of the voting rights. As of 29 November 2022, the Company directly holds 198,065,039 own shares, which represent approx. 2.22% of the total 8,902,915,298 shares outstanding. In addition, the Company’s indirect subsidiary, Pietroni, holds 67,000,000 Company shares (0.75% of the total shares outstanding). On a consolidated basis, the Company holds and controls 265,065,039 own shares which represent approx. 2.98% of the total 8,902,915,298 shares outstanding. The voting rights attached to the 265,065,039 own shares are suspended.

Investor Relations

David Greenbaum
Chief Financial Officer

Moritz Mayer
Manager – Capital Markets

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