Capital Increase for Helvetica Swiss Living (HSL Fund) starts on 2 March 2020
The fund management company Helvetica Property will carry out a capital increase of up to CHF 45 million for the HSL Fund from 2 March to 13 March 2020 (12.00 CET). Each existing share will be allotted one (1) subscription right. (1) subscription right entitles to the subscription of one (1) new share against payment of the issue price in Swiss Francs. Accordingly, the fund management company decided to issue up to 423,715 new shares. This will increase the total number of outstanding shares from currently 423,715 to at maximum 847,430. The net issue price will be CHF 105.19 for each new share of the HSL Fund. The issue price was calculated according to the fund contract (§17 paragraph 3). The exact number of newly issued shares will be determined after the end of the subscription period, based on the number of subscriptions received. Payment for the subscribed new shares will be due on 18 March 2020.
There will be no trading of subscription rights. Subscription rights that were not exercised during the subscription period will be settled after the end of the subscription period by the new investors or investors subscribing in excess of their subscription rights. The payment is calculated according to the following formula: (Average of bid price of the fund shares during the subscription period – issue price)/1*1). If the outcome of this calculation is negative, the value of the subscription right will be zero. If after the exercise of the subscription rights at the end of the subscription period the demand for new shares exceeds the offer, the fund management company reserves the right to allocate and/or reduce accordingly.
The goal of the capital increase is to gain additional equity to further expand and grow the high-quality portfolio. The fund management company has already secured an investment volume of about CHF 32 million for short-term acquisitions and is also negotiating, in part exclusively, the purchase of additional properties with a total volume of about CHF 120 million.
This announcement does not constitute an issuing prospectus according to Article 652a and Article 1156 of the Swiss code of obligations.
The HSL Fund is traded over-the-counter by Banque Cantonale Vaudoise, Lausanne.
| Michael Müller Chief Executive Officer Phone + 41 43 544 70 80 E-Mail mm@HelveticaProperty.com | Salman Baday Head Sales Switzerland Phone +41 43 544 70 95 E-Mail sb@HelveticaProperty.com |
| DETAILS OF THE CAPITAL INCREASE | |
|---|---|
| Issue volume | Maximum CHF 45 millionen (rounded) |
| Subscription ratio | 1:1 |
| Number of existing shares | 423,715 |
| Number of new shares | Maximum 423,715 |
| Issue price per share | CHF 105.19 net (including issuing commission) |
| Subscription rights trading | No subscription rights trading |
| Subscription period | 2 March 2020 – 13 March 2020, 12.00 CET |
| Allocation | 16 March 2020 |
| Payment date | 18 March 2020 |
| Subscription rights Valor number / ISIN | 52 686 489 / CH0526864894 |
| Securities Valor number / ISIN | 49 527 566 / CH0495275668 |
| Use of proceeds | The additional equity is used to invest in real estate assets and real estate projects in line with HSL Fund’s investment strategy |
| Fund management company | Helvetica Property Investors AG, Zurich |
| Custodian bank | Banque Cantonale Vaudoise, 1001 Lausanne |
| Auditor | PricewaterhouseCoopers AG, Zurich |
About Helvetica Property
Helvetica Property is an independent partner-owned and managed real estate fund management company regulated by the Swiss Financial Market Supervisory Authority FINMA. Helvetica Property offers the full spectrum of real estate investments, including investment strategies, investment property selection, deal structuring, acquisitions, financing, portfolio management and sales. The firm offers both direct and indirect real estate investments in Switzerland on behalf of its clients.
About Helvetica Swiss Living
Helvetica Swiss Living (HSL Fund) is a regulated contractual investment fund under Swiss law approved by the Swiss Financial Market Supervisory Authority (FINMA) and open to qualified investors only. The HSL Fund invests in residential real estate throughout Switzerland, with a clear focus on areas where regional and national economic centres are easily accessible and a positive population development is expected. The investment focus of the HSL Fund is on older and new properties as well as buildings in need of maintenance and repair, which have the potential to increase in value through active Asset Management and the reduction of vacancies. Ticker Symbol HSL; Valor 49527566; ISIN CH0495275668.
Disclaimer
This media release does not constitute an issue prospectus within the meaning of Art. 652a or Art. 1156 of the Swiss Code of Obligations, nor a prospectus, a simplified prospectus or Key Investor Information Document (KIID) within the meaning of the Swiss Collective Investment Schemes Act. The units of the HSL Fund may not be publicly offered or advertised in Switzerland. The documents that are solely relevant for an investment decision, the prospectus and the simplified prospectus, can be obtained free of charge from the fund management company.