Milan, 18 December 2014 – The Board of Directors of Prelios SGR, which held its meeting on today’s date, approved the extension of the term of Tecla - Fondo Uffici, listed real estate mutual fund, until 31 December 2017 (included) and resolved upon a partial reimbursement of the fund units for a total value of Euro 8 million.
As a result of the amendment to the Fund’s By-Laws approved by the Unitholders’ Meeting on 11 December 2014 – to include the right to exercise the extraordinary extension provided for by the Law issued last August (pursuant to article 22, paragraphs 5-bis to 5-novies, of Legislative Decree no. 91 of 24 June 2014, converted with amendments by Law no. 116 of 11 August 2014), allowing the extension of the term of listed real estate funds – Prelios SGR Board of Directors resolved to extend the term of Tecla - Fondo Uffici until 31 December 2017 (the term is currently fixed at 31 December 2014), for the purpose of completing the asset disposition.
The Fund residual real estate assets currently consist in 20 properties, scattered all over Italy, primarily with a core risk/yield profile and a total GLA of 239,412 sq. m.
56.1% of the portfolio determined on contribution value was disposed from placement date to 30 September 2014. Considering the invested capital released by dispositions, against the extension of the Fund term and of the loan contract, Prelios SGR Board of Directors also resolved upon a partial reimbursement of units equal to about Euro 8 million in total (namely, Euro 12.37 per unit for a total amount of Euro 7,998,318.30).
The units of Tecla – Fondo Uffici will be traded without coupon starting from 29 December 2014. Payment will take place with value date of 31 December 2014.
Following to the partial reimbursement resolved upon on today’s date, from placement date the Fund has distributed proceeds and reimbursed units for Euro 597.71 per unit, equal to 118% of the capital initially paid in by investors.
Last updated: 18/12/2014 18:33