Vastned buys back own shares for a total amount of €29.9 million
Vastned, the European retail property company focusing on venues for premium shopping, buys back 849,846 shares for a total amount of € 29.9 million.
Vastned launched a buy-back tender offer for up to €50 million on 11 April 2017, using part of the proceeds from the divestment of its entire Turkish portfolio. Vastned shareholders were offered the opportunity to tender their shares at a maximum price of €35.19 until 15 May 2017 23:59 CEST.
A total number of 849,846 Vastned shares have been tendered for which investors, who have tendered at or below the fi nal purchase price, will receive €35.19 per share. Vastned will buy back shares for a total amount of €29.9 million.
Settlement of the share buy-back will take place on 19 May 2017. Vastned will not redeem the acquired shares and keep them as treasury shares. The number of outstanding shares will be reduced from 19,036,646 to 18,186,800 following settlement.
Vastned confirms its previously announced guidance for the 2017 direct result of between €2.10 and €2.20 per share.
Vastned is a listed (Euronext Amsterdam) European retail property company focusing on venues for premium shopping. Vastned invests in selected cities in Europe with a clear focus on the best retail property in the most popular shopping streets in the bigger cities. Vastned's tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately € 1.5 billion.