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Jelmoli Holding Ltd ("Jelmoli") provides additional information on
its Swiss real estate portfolio prior to the separate listing of
Jelmoli and Athris Holding Ltd ("Athris") on March 30, 2009. Jelmoli
will be included in the real estate segment of the SIX Swiss Exchange
with immediate effect. The inclusion in the Swiss Real Estate Index
and the EPRA Index is expected for summer 2009.
The Jelmoli real estate portfolio including the Tivona properties
which were acquired in February 2009 consists of 131 properties with
a combined market value of CHF 4.1 billion (based on segment values)
as of December 31, 2008. 87% of the property value is in first class
locations and the top 5 properties account for approximately 40% of
the value. Approximately 10% of the value results from development
projects such as the shopping center Stücki in Basel, which will be
completed in 2009. Jelmoli is the only public real estate company in
Switzerland with a focus on high street retail properties. 61% of
rental income is derived from high quality retail tenants (74%
including related activities such as parking and storage). The
average duration of rental contracts is approximately 10 years; the
vacancy rate amounts to 3.5% (excl. projects). For the full twelve
months 2009, the combined Jelmoli and Tivona portfolio will generate
rental income of approximately CHF 220 million, including development
projects from the expected date of completion. The full run-rate
rental income after completion of all current development projects
for the portfolio amounts to approximately CHF 240 million.
Jelmoli now provides for the first time detailed information on
Jelmoli's real estate portfolio on a property-by-property basis,
which can be accessed via the Jelmoli homepage
(www.jelmoliholding.ch) and will provide investors access to key
information relevant for their investment decision ahead of the
publication of the annual report on April 28, 2009, which will be in
compliance with the additional rules of SIX Swiss Exchange for the
listing of real estate companies. In addition, the independent valuer
reports prepared by Wüest & Partner for the Jelmoli and the Tivona
portfolio as of December 31, 2008, will be available via the Jelmoli
homepage as of today.
The Jelmoli bearer shares with a nominal value of CHF 50 have been
traded today for the last time and are being delisted. They are being
split and converted into new Jelmoli registered shares with a nominal
value of CHF 10 which will trade for the first time Monday March 30,
2009. The share capital of Jelmoli amounting to CHF 38,153,940 has
been increased through the authorized issuance of 250,000 registered
shares (with a nominal value of CHF 10) to CHF 40,653,940 (authorized
capital increase). All new shares have been subscribed for by Pelham
Investments S.A. as compensation for ceding control in Jelmoli. The
newly issued shares will also be listed and traded for the first time
on March 30, 2009.
The registered and bearer shares of Athris are being distributed by
way of a dividend in kind and will be listed as well as from Monday
March 30, 2009. At the same time the share buy-back program will
commence by Athris issuing tradable put options to buy back its
bearer and registered shares.
"I am very pleased that the implementation of the Strategic Plan will
be concluded on March 30, 2009. This will mark the beginning of a new
area in the history of Jelmoli, and the beginning of Athris as a new
and exciting company with ample investment opportunities in today's
market environment. Having overseen the successful implementation of
the Strategic Plan, I now intend to focus entirely on the Jelmoli
business and will therefore step down from the board of Athris as of
the first day of trading." said Christopher Chambers, Chairman of the
Board of Directors of Jelmoli.
Contacts
Media: Michael Mueller, President of the Executive Committee
+41 44 220 49 13, eMail: michael.mueller@jelmoli.ch
Internet: www.jelmoliholding.ch / www.huginonline.ch/JEL
WAP mobile: wap.huginonline.com (Press Releases Jelmoli)
E-mail: info@jelmoliholding.ch
This media information contains forward looking statements which
express intentions, estimates, expectations and forecasts relating to
future financial, operational and other developments and results.
Such statements and the underlying assumptions are subject to a
variety of risks, uncertainties and other factors which could mean
that the actual developments may significantly differ therefrom.
Investors should also note that the described transaction may fail,
in full or in part, or may be delayed. In view of these
uncertainties, readers of this media information are cautioned not to
place undue reliance on such forward looking statements.
--- End of Message ---
Jelmoli
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Jelmoli über
WAP:
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St. Annagasse 18 Zürich
WKN: 851225; ISIN: CH0000668464; Index: SMCI, SPI, SPIEX;
Listed:
Main Market in SIX Swiss Exchange;
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