Schroder ImmoPLUS announces conditions of planned capital increase
Ad hoc release in accordance with Art. 53 KR
Zurich, 24 November 2021
Schroder Investment Management (Switzerland) AG, Zurich, as fund management company (the «Fund Management Company») of Schroder ImmoPLUS (hereinafter «SRIP» or «Fund») has decided to perform a capital increase of approximately CHF 103 million for the Fund. With this decision, the Fund Management Company would like to continue the successful development of SRIP.
The proceeds from the capital increase will be used to refinance the acquisition in 2021 of two office buildings, summarised into one property in the annual report as at 30 September 2020, for around CHF 70 million by repaying the short-term debt capital raised for this purpose. The remaining proceeds will be used to invest in portfolio projects and to further reduce short-term debt.
“The recent acquisition of two office buildings in Lausanne falls within our long-term investment strategy to strengthen the Schroder ImmoPLUS portfolio by investing in attractive, well-located assets with a strong tenant base. The proposed capital increase we are announcing today will enable the Fund to continue this strategy of moderate portfolio growth, whilst focusing on creating added value for investors.” says Roger Hennig, Head of Real Estate Switzerland and fund manager of the Schroder ImmoPLUS.
The number of new units issued as part of the capital increase amounts to a maximum of 712,012, increasing the total number of units from 9,968,181 to a maximum of 10,680,193.
The new fund units will be available for subscription from 30 November until 12.00 CET on 9 December 2021. The capital increase will observe and maintain the subscription rights of existing investors. The units can be traded from 30 November to 7 December 2021.
The issue will be conducted on a best effort basis through a public subscription offer in Switzerland and a free placement in Switzerland of the units that are not subscribed to in the public subscription offer. Condition for the participation in the free placement is that the investor has fully exercised his granted or acquired subscription rights. Any units, which are not subscribed to, will not be issued, thereby reducing the issue amount. Zürcher Kantonalbank is the Sole Lead Manager for this capital increase.
Summary of conditions
Current number of units | 9,968,181 |
Issue | |
Issue volume (gross) | Max. CHF 103 million |
Number of new units | Max. 712,012 units |
Subscription ratio | 14:1, 14 existing units entitle the holder to subscribe to 1 new unit |
Subscription and issue price per unit | CHF 144 net per unit (incl. issuing commission) |
Allocation of subscription rights (ex-date) | The reference date is 29.11.2021 (after close of trading); the units will be traded ex subscription rights from 30.11.2021 |
Subscription rights trading | 30.11.2021 to 7.12.2021 on the SIX Swiss Exchange |
Subscription period | 30.11.2021 to 9.12.2021, 12.00 CET |
Swiss securities no. / ISIN | Existing unit: 39 571 886 / CH0395718866 Subscription right: 11 461 9 908/ CH1146199083 |
Settlement date | Expected on 10.12.2012 |
Distribution entitlement | The new units are entitled to receive distributions in financial year 2021/2022. |
Schroder Real Estate
Schroder ImmoPLUS was launched in September 1997 and invests in real estate in attractive and well- developed locations throughout Switzerland. Preference is given to investments in profitable commercial properties in economically prosperous regions. The investment objective is to generate attractive long-term returns for investors.
As a global, active asset manager, Schroders has managed a wide range of pan-European real estate products since 1971 and currently manages real estate assets (AuM) of around CHF 22 billion. More than 200 employees in six locations in Europe invest directly and indirectly and offer regionally and sectorally diversified funds with different risk-return profiles. In Switzerland, Schroders manages assets totalling around CHF 4 billion with its "Schroder ImmoPLUS" fund and the investment group of the Zurich Investment Foundation "Immobilien Europa Direkt". (Source: Schroders as at November 2021)
Important Information
This document does not constitute an offer to anyone, or a solicitation by anyone, to subscribe for shares of Schroder ImmoPLUS (the “Fund”) that is managed by Schroder Investment Management (Switzerland) AG (the “Fund Management Company”). Subscriptions for shares of a managed investment fund can only be made on the basis of the latest prospectus and the latest audited annual report (and the subsequent unaudited semi-annual report, if published). The risks connected with an investment are described in detail in the fund contract and the prospectus. The fund contract, the prospectus and the simplified prospectus (if applicable) as well as the annual and semi-annual report year may be ordered free of charge from Schroder Investment Management (Switzerland) AG, Central 2, CH-8001 Zurich.
All statements, opinions and views contained in this document relating to future events or the possible future performance of any managed investment fund merely represent the Fund Management Company’s own assessment and interpretation of information that was available to him at the relevant time. No representation is made or assurance is given that such statements, opinions and views are correct, or that the underlying information is accurate. Statements regarding the past performance may not be understood as indication of the future performance. A good past performance may possibly not be repeated in the future. The performance shown does not take account of any commissions and costs charged when subscribing and redeeming units.
The Fund managed by the Fund Management Company may be offered or distributed in or from Switzerland only by licensed distributors. The Fund managed by the Fund Management Company is not registered under the US Securities Act of 1933. Shares may not, directly or indirectly, be offered, sold or transferred in the United States or outside of the Unites States to US nationals.
Further Information:
Roger Hennig, Head Real Estate Switzerland, roger.hennig@schroders.com
Tel. +41 (0) 44 250 12 91
Alice West, Senior Corporate Communications Manager Switzerland, alice.west@schroders.com
Tel. +41 (0) 44 250 12 26
Note to Editors
Schroders plc
As a global asset manager, Schroders actively and responsibly manages investments for a wide range of institutions and individuals, to help them meet their financial goals and prepare for the future. In our role as active investors, the way we direct capital not only shapes the financial returns we achieve for our clients but also the type of impact we have on the world. Understanding the impact that companies can have on society and the planet is crucial in assessing their ability to deliver risk-adjusted profits.
Founded in 1804, Schroders ongoing success is built on a long-standing history of experience and expertise. We partner with our clients to construct innovative products and solutions across our five business areas, consisting of Private Assets & Alternatives, Solutions, Mutual Funds, Institutional and Wealth Management, and invest in a wide range of assets and geographies.
Schroders is responsible for almost CHF 894.3 billion* client assets, managed locally by 60 investment teams worldwide. As a global business with over 5,500 talented staff across 37 locations, we are able to stay close to our clients and understand their needs.
Schroders is listed on the London Stock Exchange and a member of the FTSE 100. It remains in part a family business, with almost half of voting shares held by the Schroder family. Independence and long-term thinking are central to our business philosophy – values reflected in our steady ownership structure.
At home in Switzerland for over half a century – here we have three businesses; each with its own emphasis, all with the same clear focus on meeting clients’ needs and adapting to a changing world:
- Schroder Investment Management (Switzerland) AG is our investment management business. It offers institutional and private investors a wide range of Swiss-domestic and foreign-domiciled funds, along with bespoke investment mandates.
- Schroder & Co Bank Ltd provides bespoke Wealth Management services to private individuals, family offices, external asset managers and charities.
- Schroders Capital Management (Switzerland) Ltd provides private equity investment services to institutional investors, namely pension funds and insurance companies globally, giving access to select private market segments through primary, secondary and direct/co-investments.
In Switzerland, Schroders employs over 500 people. Together they are responsible for a total of CHF 84.1 billion. **
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*as at 30 June 2021
**as at 31 December 2020
Important Information: This communication is marketing material. The views and opinions contained herein are those of the author(s) on this page, and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds. This material is intended to be for information purposes only and is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. It is not intended to provide and should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this document when taking individual investment and/or strategic decisions. Past performance is not a reliable indicator of future results. The value of an investment can go down as well as up and is not guaranteed. All investments involve risks including the risk of possible loss of principal. Information herein is believed to be reliable but Schroders does not warrant its completeness or accuracy. Some information quoted was obtained from external sources we consider to be reliable. No responsibility can be accepted for errors of fact obtained from third parties, and this data may change with market conditions. This does not exclude any duty or liability that Schroders has to its customers under any regulatory system. Regions/ sectors shown for illustrative purposes only and should not be viewed as a recommendation to buy/sell. The opinions in this material include some forecasted views. We believe we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know. However, there is no guarantee than any forecasts or opinions will be realised. These views and opinions may change. The content is issued by Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU. Registered No. 1893220 England. Authorised and regulated by the Financial Conduct Authority.
Important Information: This communication is marketing material. The views and opinions contained herein are those of the author(s) on this page, and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds. This material is intended to be for information purposes only and is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. It is not intended to provide and should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this document when taking individual investment and/or strategic decisions. Past performance is not a reliable indicator of future results. The value of an investment can go down as well as up and is not guaranteed. All investments involve risks including the risk of possible loss of principal. Information herein is believed to be reliable but Schroders does not warrant its completeness or accuracy. Some information quoted was obtained from external sources we consider to be reliable. No responsibility can be accepted for errors of fact obtained from third parties, and this data may change with market conditions. This does not exclude any duty or liability that Schroders has to its customers under any regulatory system. Regions/ sectors shown for illustrative purposes only and should not be viewed as a recommendation to buy/sell. The opinions in this material include some forecasted views. We believe we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know. However, there is no guarantee than any forecasts or opinions will be realised. These views and opinions may change. The content is issued by Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU. Registered No. 1893220 England. Authorised and regulated by the Financial Conduct Authority.
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