Immofinanz 7% bond convertible until Oct. 6; price to be adjusted

By Jennifer Chiou

New York, Sept. 13 - Immofinanz AG announced that the conversion period for its 7% convertible bond due Dec. 22, 2011 ends on Oct. 6. The company also noted that due to a foreseen dividend distribution, the conversion price will be adjusted.

For conversions until Sept. 16, bondholders will receive Immofinanz shares with dividend entitlements, and the planned distribution is €0.10 per share.

Because of the shareholders' meeting set for Sept. 28, the company said that conversions are prohibited from Sept. 19 until Oct. 2.

If the conversion is to take place between Oct. 3 and Oct. 6, the conversion price will be adjusted to €1.93 from €2.00, taking into account the dividend. Shares delivered to holders, however, will not have divided entitlements during these dates.

The company's shares closed at €2.273 apiece on Monday. Immofinanz said that in relation to this share price, the conversion option of the bond is in the money.

Questions may be directed to Clemens Eisinger (43 699 1685 7315 or investor@immofinanz.com) and Simone Korbelius (43 5 7111 2291 or investor@immofinanz.com).

Immofinanz is a Vienna-based real estate firm.

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