17 December 2009 / 12:59

Corporate News

HAMBORNER AG takes last hurdle for REIT conversion – HSH Real Estate splits shareholding in HAMBORNER AG

Hamborner AG / Miscellaneous/Miscellaneous17.12.2009 Dissemination of a Corporate News, transmitted byDGAP - a company of EquityStory AG.The issuer / publisher is solely responsible for the content of this announcement.---------------------------------------------------------------------------Duisburg 17.12.2009. The Duisburg-based real estate joint-stock companywhich is listed in the Prime Standard, has taken the final hurdle and nowfulfils all conditions for conversion into a REIT AG.The last remaining condition related to the provision of the REIT Act whichstates that no single shareholder may have a direct shareholding of 10percent or more in a REIT company. Previously, HSH Real Estate AG had adirect shareholding of 2.39 percent in HAMBORNER AG, as well as a 50.32percent stake through HSH-RE Beteiligungs GmbH. In order to fulfil theterms of the REIT Act, the HSH Nordbank subsidiary founded six newcompanies to which it transferred its shareholding in HAMBORNER AG. As suchno single shareholder now holds 10 percent or more shares in HAMBORNER AG.Explaining the move, Dr. Marc Weinstock, Chairman of the Board of HSH RealEstate AG said: 'With this transaction, we not only meet the requirementsof the REIT Act. By splitting our shareholdings across six companies we arealso more flexible, allowing us to significantly reduce our involvement inHAMBORNER AG in the medium term'. As previously announced HAMBORNER AG will now apply for conversion to REITstatus with effect from 1 January 2010. 'We are delighted that we are nowon the final stretch and will be able to present our shareholders with atax-optimised HAMBORNER REIT AG in the New Year', commented Hans RichardSchmitz, a member of the HAMBORNER AG Managing Board.HAMBORNER AG will thus become the first German REIT created through theconversion of a longstanding real estate AG. The company, which specialisesin the acquisition of office and retail properties in medium-sized cities,can look back at 40 years of successful real estate business. For the nearfuture HAMBORNER AG plans to significantly expand the value of itsportfolio which currently stands at 310 million euros.A REIT is a tax-privileged legal form for real estate companies. REITcompanies themselves are not subject to corporation or trade tax. Tax isexclusively levied at shareholder level.About HAMBORNER AGHAMBORNER AG is a listed joint-stock company now exclusively involved inthe real estate sector, which has positioned itself as an owner ofhigh-yield commercial properties. The HAMBORNER AG real estate portfolio isworth around EUR 310 million and the company intends to significantlyexpand it through the purchase of further high-quality properties. Whenpurchasing, HAMBORNER AG primarily focuses on retail properties in primelocations in medium-sized German cities and in office properties atestablished locations throughout Germany. The company is currentlyregistered with pre-REIT status. Conversion to a REIT will take place on01.01.2010.Investor Relations:Sybille Albeser Tel.: +49 (0)203 54405-32Fax: +49 (0)203 54405-49 E-mail: s.albeser@hamborner.de17.12.2009  Ad hoc announcement, Financial News and Media Release distributed by DGAP.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      Hamborner AG              Goethestraße 45              47166 Duisburg              DeutschlandPhone:        0203/54405-0Fax:          0203/54405-49E-mail:       info@hamborner.deInternet:     www.hamborner.deISIN:         DE0006013006WKN:          601300Listed:       Regulierter Markt in Berlin, Frankfurt (Prime Standard),              München, Düsseldorf, Stuttgart, Hamburg End of News                                     DGAP News-Service ---------------------------------------------------------------------------

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