VGP to launch capital increase of approximately € 200 million via an accelerated bookbuild offering

21 April 2020, 1:00pm, Antwerp (Berchem), Belgium: VGP NV (‘VGP’ or ‘the company’), a leading European provider of high-quality logistics and semi-industrial real estate, announces the following:

• VGP is launching a capital increase in cash by means of a private placement via an accelerated bookbuild offering with international institutional investors (the ‘Capital Increase’)
• The targeted amount of the Capital Increase is gross proceeds of approximately € 200 million
• The accelerated bookbuild procedure will start immediately after publication of this press release
• VGP has requested that trading of VGP shares on the Euronext Brussels and Prague Stock Exchange regulated markets be suspended until the results of the Capital Increase are published in a press release, which is expected on or around 22 April 2020
• The company will primarily use the net proceeds from the Capital Increase to increase its financial purchasing power and strengthen its shareholders’ equity in order to finance the investment pipeline and to be able to benefit from additional investment opportunities
• The reference shareholders Mr. Jan Van Geet and Mr. Bart Van Malderen have each irrevocably committed to subscribe the new shares to be issued at their final issue price for an amount of up to EUR 70,000,000 and EUR 40,320,000 respectively and in return will receive allocation pro-rata to their existing stakes of 33.81% and 20.16%. By doing so, both underline their confidence in VGP and its future outlook
• The proceeds from the Capital Increase have an estimated pro-forma impact of -14.8% on the gearing ratio reducing it to 24.5% based on an estimated pro-forma year-end balance sheet (from 39.3% as at 31 December 2019)