Today, Schroder Investment Management (Switzerland) AG is publishing the conditions for the planned capital increase of up to CHF 129.6 million and a split of fund units for the Schroder ImmoPLUS fund. The issue proceeds will be used partly for fund consolidation and partly to finance the desired future growth of the quality-oriented real estate portfolio. CHF 65.1 million of the issue proceeds will be used directly for the purchase of commercial premises in Winterthur acquired as of 1 January 2018.
“The recent acquisition of the property in Winterthur means this year we have already acquired commercial premises that are leased on a long-term basis to an internationally renowned medical technology company. The planned capital increase will optimise the conditions for further moderate growth of both the existing portfolio and through the acquisition of new real estate with the aim of creating added value for investors” says Roger Hennig, Head of Real Estate Switzerland and Fund Manager of the Schroder ImmoPLUS.
The new fund units will be available for subscription from 5th February until 12.00 CET on 16th February 2018. The capital increase will observe and maintain the subscription rights of investors, which can be traded from 5th February to 14th February 2018.
One subscription right will be granted for each existing unit. On the same day after the subscription rights are granted, the fund units will be split at a ratio of 1:8. Consequently, one fund unit pre-split will entitle the holder to subscribe to one new fund unit at a subscription and issue price of CHF 135.
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 that are not subscribed to will not be issued, thereby reducing the issue amount.
Summary of conditions
| Current number of units | 959,899 |
| Split | |
| Split ratio | 1:8 |
| Number of units after split | 7,679,192 units |
| Ex-dividend date | The reference date is 02.02.2018 (after close of trading); the units will be traded on a split basis from 05.02.2018. |
| Issue | |
| Issue volume | Max. CHF 129.6 million |
| Number of new units after split | Max. 959,899 units |
| Subscription ratio | 1:1, 1 unit pre-split entitles the holder to subscribe to 1 new unit |
| Issue price per unit | CHF 135 net per unit (incl. issuing commission) |
| Allocation of subscription rights (ex-date) | The reference date is 02.02.2018 (after close of trading); the units will be traded ex subscription rights from 05.02.2018. |
| Subscription period | 05.02.2018 to 16.02.2018, 12.00 CET |
| Swiss securities no. / ISIN | Existing unit: 725 141 / CH0007251413 Unit after split: 39 571 886 / CH0395718866 Subscription right: 39 571 907 / CH0395719070 |
| Subscription rights trading | 05.02.2018 to 14.02.2018 on the SIX Swiss Exchange |
| Settlement date | Expected on 19.02.2018 |
| Distribution entitlement | The new units are entitled to receive distributions for financial year 2017/2018. |
| Use of issue proceeds | The issue proceeds will be used for fund consolidation and to finance the desired future growth of the quality-oriented real estate portfolio. |
Schroder Real Estate
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 16 billion. More than 100 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 over CHF 2 billion with its "Schroder ImmoPLUS" fund and the investment group of the Zurich Investment Foundation "Immobilien Europa Direkt". (Source: Schroders as at 30.09.2017)
Further Information:
Roger Hennig, Head Real Estate Switzerland / +41 (0) 44 250 12 91
Fabienne Tresch, Senior Marketing Specialist / +41 (0) 44 250 12 30
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 Manager”). 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 Manager’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.
Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get the amount originally invested.
The Fund managed by the Fund Manager may be offered or distributed in or from Switzerland only by licensed distributors. The Fund managed by the Fund Manager 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 about Schroders can be found under www.schroders.ch
This document is issued by Schroder Investment Management (Switzerland) AG, Central 2, CH-8001 Zurich, Switzerland, which is regulated by FINMA
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