WDP realises acquisition of additional site in Asse via capital increase of 12 million euros

WDP has acquired an additional site in Asse, measuring some 52,000 m², consisting of both vacant lots and developed area. Over time, WDP wants to partially redevelop this site – in combination with the previously acquired properties, including the recently announced neighbouring site – to further expand its logistics park in Asse-Zellik. This acquisition, for an overall investment value of 12.4 million euros, was realised today by means of a contribution in kind of the site in WDP, in exchange for 119,226 new WDP shares. Today, 17 October 2018, the Board of Directors of the manager, De Pauw NV, using the authorised capital, approved this transaction, resulting in a capital increase of (around) 12 million euros and the issue of 119,226 new WDP shares. These shares are expected to be listed on Euronext Brussels and Amsterdam starting on 18 October 2018. This issue price amounts to (rounded) 104.36 euros per share.

WDP REALISES ACQUISITION OF ADDITIONAL SITE IN ASSE WITH A CAPITAL INCREASE OF 12.4 MILLION EUROS

The acquisition of this site was completed today, 17 October 2018, by a contribution in kind of the site in WDP in exchange for 119,226 new WDP shares. The new shares were issued as a result of a capital increase, following a decision of the Board of Directors of the manager of WDP, making use of the authorised capital. The transaction resulted in a 12.4 million euro boost in shareholders’ equity, (around) 1.0 million euros of which was allocated to the Capital line item and (around) 11.4 million euros to Share premiums.
The object of this transaction is a site of around 52,000 m² in Asse, consisting of both vacant lots and developed area, for a total remuneration of approx. 12.4 million euros. WDP wants to partially redevelop this site over time. The site was formerly owned by De Persgroep Publishing NV.

WDP LOGISTICS PARK IN ASSE-ZELLIK

The acquisition of this site falls under the continued expansion of the existing cluster of buildings owned by WDP in the Broekooi industrial zone. This business park is strategic for logistics activities, given its direct connection to the Brussels ring road. After an initial purchase in 2014, WDP acquired and redeveloped three different sites in this industrial zone and leased them to Euro Pool System, Antalis and ALD Automotive, respectively. Following several further acquisitions over the course of 2018 (in particular, some 31,000 m² for redevelopment and some 22,000 m² through the recently announced purchase1), the WDP Logistics Park in AsseZellik has grown into a unique cluster totalling around 180,000 m².

ISSUE PRICE, LISTING AND PROFIT SHARING FOR NEW SHARES

The contributors were paid by the issue of 119,226 new WDP shares (i.e. around 0.5% of the total number of existing WDP shares). The issue price was set to (rounded) 104.36 euros based on the volume-weighted average price (VWAP) of WDP shares, provided on the Euronext Brussels website (including the dividend for the 2018 financial year, starting on 1 January 2018) for the five days leading up to 17 October 2018, minus five per cent.
The new WDP shares are of the same type and confer the same rights (including dividend rights) as existing WDP shares and make up around 0.5% of the total outstanding shares. The manager of the company expects to secure admission of the new shares for trading on the regulated markets Euronext Brussels and Amsterdam on 18 October 2018.

DISCLOSURE IN ACCORDANCE WITH ARTICLE 15 OF THE BELGIAN ACT OF 2 MAY 2007 (THE TRANSPARENCY LAW)

As a result of the capital increase and the new share issue on 17 October 2018 in the context of this transaction, WDP’s total capital amounts to 181,818,268.95 euros as at 17 October 2018. The capital is represented by 22,670,688 fully paid-up ordinary shares. There are no preference shares or shares without voting rights, nor convertible bonds or warrants conferring rights to shares. Each of these shares grants one voting right at the General Meeting, so these shares represent the denominator for purposes of notifications within the framework of transparency regulations (i.e. notifications in the event that the thresholds set down by the Articles of Association or by law are reached, exceeded or not reached). In addition to statutory thresholds, the WDP Articles of Association set an additional threshold of 3%, in accordance with Article 18(§1) of the Belgian Act of 2 May 2007

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