Investor news

VGP NV: upcoming inclusion in FTSE EPRA Nareit Global Emerging Index

05 Sep 2019

Today FTSE Russell announced the quarterly review changes to the FTSE EPRA Nareit Global Real Estate Index Series. As part of this review they announced that VGP NV will be included in the FTSE EPRA Nareit Global Emerging Index.  All constituent changes will be locked down after market close on Friday, 6 September 2019 and will be applied after close of business on Friday, 20 September 2019 (i.e. on Monday, 23 September 2019).


RECORD AMOUNT OF NEW LEASE CONTRACTS SOLIDIFIES PATH OF CONTINUED FUTURE GROWTH

23 Aug 2019

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, today announces the results for half-year ended 30 June 2019:

  • Solid operating performance resulting in a net profit of € 75.0 million
    • Signed and renewed lease agreements corresponding to € 27.0 million of annualised rent income bringing the total annualised rental income to € 129.3 million (+24% YTD)[1]
    • Delivered 175,000 m2 of lettable area in first half of 2019
    • 480,000 m2 under construction as of 30 June 2019
    • After the reporting period end a milestone project near Munich was announced with the development of a new park which is completely pre-let with 250,000 m2 of lettable space
  • Significant strengthening of platform for future growth
    • VGP invested in its future pipeline with 1.7 million m2 of new land bought
    • A further 2.24 million m2 committed subject to permits
  • Announced broadened partnership with Allianz through the launch of second 50:50 Joint Venture on 1 July 2019
    • VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain[2]
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VGP ANNOUNCES CONFERENCE CALL TO REVIEW FIRST HALF 2019 FINANCIAL RESULTS

09 Aug 2019

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, announces the details for the conference call to review first half 2019 financial results:

  • Friday, 23 August at 10.30 a.m. (CET)
  • Dial-in details:
    • Belgium: 0800 58228 (toll free) / +32 (0)2 404 0659
    • UK: 0800 358 6377 (toll free) / +44 (0)330 336 9105
    • US: 800-239-9838 (toll free) / +1 323-794-2551
    • Confirmation Code: 5567733

Please join the event conference 5-10 minutes prior to the start time. The financial results are scheduled to be released at approximately 7:00 a.m. (CET) on the date noted above, and presentation slides will be made available on www.vgpparks.eu under Investors, Reports & Presentations.


VGP SUCCESSFULLY CLOSES INITIAL TRANSACTION OF €175 MILLION WITH SECOND JOINT VENTURE

31 Jul 2019

VGP NV ('VGP' or 'the Company') today successfully completed the initial closing with VGP European Logistics 2, its second 50/50 joint venture with Allianz Real Estate, as established on 1st of July 2019. The transaction consists of 3 business parks acquired by the joint venture from VGP, including eight prime logistic buildings of which four in the established markets of respectively Spain (3) and Austria (1), and four in the fast-growing market of Romania.

The initial transaction value is € 175 million, which includes some future development pipeline. The gross proceeds from this transaction amounts to circa € 96 million .

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VGP DEVELOPS NEW BUSINESS PARK FOR BMW AND KRAUSSMAFFEI GROUP NEAR MUNICH

18 Jul 2019

LARGEST RELOCATION PROJECT IN GREATER MUNICH SINCE RELOCATION OF AIRPORT IN 1992

VGP, a leading European provider of high-quality logistics and commercial real estate, is developing a new business park in Parsdorf near Munich.

VGP Park Munich is located on a 40 ha site and will offer 250,000 m² of rentable space for logistics and manufacturing companies.

Very near to the city centre and only 30 minutes by car from Munich Airport, the park is located north of the Parsdorf junction on the A 94 motorway in a region of economic importance for agriculture, industry and trade.

Georg Reitsberger, First Mayor of the municipality of Vaterstetten, is looking forward to the project: "For us, VGP is a reliable and professional partner with whom we can further strengthen our region together."

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Allianz and VGP announce new EUR1.7bn European logistics joint venture

01 Jul 2019

VGP NV (“VGP”), the Antwerp-based pan-European developer, manager and owner of logistics and semi-industrial real estate assets and Allianz have expanded their strategic partnership with a new 50:50 joint venture. VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain.

Allianz Real Estate and VGP are targeting to grow the joint venture to a gross asset value of EUR1.7 billion within five years by exclusively acquiring prime assets developed by VGP. This latest JV follows the first vehicle - VGP European Logistics - which launched in March 2016 and targets assets in Germany, the Czech Republic, Slovakia and Hungary. It currently has a gross asset value of c. EUR1.4 billion in ownership or under construction.

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VGP develops new business park near Hanover Opening planned for the second half of 2020

24 Jun 2019

The VGP Group, a leading European provider of high-quality logistics and commercial real estate, is developing a new business park in Laatzen near Hanover, Germany.

VGP Park Laatzen is located on a site of around 28 hectares and will offer 112,000 m² of leasing space for commercial, production and logistics companies. Only 20 minutes by car from the city centre of Hanover, the park is located in an economically important region for agriculture, industry and trade.

Jürgen Köhne, Mayor of the City of Laatzen, is looking forward to the project: "With VGP we have a reliable and professional partner by our side with whom we can further strengthen Laatzen as a business location".

In addition to tailor-made solutions for large companies, the new park will also offer small units from 2,500m² for rent, thus offering a wide range of jobs in production, logistics and administration.

In May of this year, the first contract was signed with KraussMaffei Berstorff, a Hanover-based mechanical engineering company. "We are delighted to have paved the way for further growth with this new facility and to be able to continue to rely on innovation and quality - made in Germany," says Matthias Sieverding, President of the Extrusion Technology Segment of the KraussMaffei Group."We have deliberately chosen the Hanover area as our location in order to be able to shape the future together with our experienced employees," Sieverding adds. KraussMaffei Berstorff is planning for the future with the building of a new plant for extrusion technology. By the end of 2022, work on the production hall and office complex should be completed. The facility, equipped with state-of-the-art technical, production and office facilities, is designed for up to 750 employees and thus offers sufficient space for future growth.

"With KraussMaffei Berstorf, VGP has won a strong anchor tenant who will bring a large number of qualified workers and technical innovation to Laatzen," continues Mayor Köhne.

The site was sold by Hannover Region Grundstücksgesellschaft mbH & Co. KG (HRG), which developed the project together with the city of Laatzen over a period of around eight years. "We were particularly impressed by VGP's diverse utilization concept, which includes both production and logistics", says Mattias Böhle, Managing Director of HRG.

With VGP Park Laatzen, the VGP Group, which today operates in twelve European countries, is further expanding its presence in Germany. Today, the company is already present in nine federal states with a portfolio of 23 industrial parks. Sustainability and energy efficiency are key parameters for the properties developed by VGP.

Darius Scheible, Managing Director of the Düsseldorf-based German subsidiary VGP Industriebau GmbH, is looking forward to working with the city of Laatzen: "The Hanover region is an important European transport hub. Together with the responsible parties of the city of Laatzen, we will further enhance the economic importance of the location Laatzen".

The industrial and commercial park is to be completed within the next 3-5 years. The first tenants are expected to move in in the second half of 2020.


ANNUAL SHAREHOLDERS’ MEETING

14 May 2019

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, held its Annual Shareholder’s Meeting on 10 May 2019 in Antwerp, Belgium.
The shareholders approved all agenda items.

Details of the voting results are available on:  www.vgpparks.eu/investors/en/shareholder-information/shareholder-meetings

We make reference to the agenda as included in the convocation of the Annual Shareholder’ Meeting and more specifically the topic regarding dividend and appointment of new independent directors.

Dividend

Following the proposal of the board of directors, the Annual Shareholders’ Meeting approved the gross dividend over 2018 of € 2.20 per share.

Ex-dividend date: 20 May 2019
Registration date: 21 May 2019
Dividend payment date:  22 May 2019

New independent directors

The Annual Shareholders’ Meeting approved the appointments of:

  • Mrs Ann Gaeremynck as independent Director for a term of four years, until the Annual Shareholders’ Meeting of 2023;
  • Mrs Katherina Reiche as independent Director for a term of four years until the Annual Shareholders’ Meeting of 2023;
  • Mrs Vera Gäde-Butzlaff as independent Director for a term of four years until the Annual Shareholders’ Meeting of 2023. 

On 10 May 2019, an Extraordinary Shareholders’ Meeting took place as well. The meeting extended the authorisation granted to the Board of Directors to increase the registered capital (authorized capital). The meeting also extended the authorisation granted to the Board to buy back company shares.


CONTINUED MOMENTUM FOR 2019

10 May 2019

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, today published a trading update for the first four months of 2019:

  • Strong operating performance
    • Record €18.1 million signed and renewed lease agreements, bringing total annualized rental income to €121.0 million (+16% year-to-date) and increasing the average lease term of the portfolio to 8.2 years (vs. 7.8 at Dec-18)
    • A total of 547,000 m2 under construction and 62,000 m2 delivered in 2019 year-to-date. The portfolio under construction represents €28.2 million in additional annual rent once fully built and let
  • Continued expansion of land bank to secure future growth
    • Extended pipeline through 940,000 m2 of new land bought and a further 2.6 million m2 committed subject to permits
    • Total land bank acquired and secured has grown to 5.8 million m2 which supports 2.6 million m2 of future lettable area
  • Successful fifth closing with VGP European Logistics joint venture allowed recycling of €130 million of net cash proceeds
  • Anticipate first closing for new Joint Venture with Allianz Real Estate in Q2 2019
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VGP ANNOUNCES PROPOSED CHANGES TO BOARD OF DIRECTORS

09 Apr 2019

  • Marek Šebesťák, Alexander Saverys and Jos Thys to retire after 12 years of exemplary service
  • Ann Gaeremynck, Katherina Reiche and Vera Gäde-Butzlaff to be proposed as replacements at Annual Shareholders Meeting on 10 May 2019 

VGP NV (‘VGP’ or ‘the Group’) distributed today the Convocation for the upcoming Annual Shareholders’ Meeting and announced that the Board of Directors have nominated Mrs. Ann Gaeremynck, Mrs. Katherina Reiche and Mrs. Vera Gäde-Butzlaff for appointment as new independent board members. The Annual Meeting will be held on 10 May 2019.

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VGP SUCCESSFULLY COMPLETES FIFTH CLOSING WITH VGP EUROPEAN LOGISTICS JOINT VENTURE

01 Apr 2019

VGP NV ('VGP' or 'the Company') announced that today it has successfully completed a fifth closing with VGP European Logistics, its 50/50 joint venture with Allianz Real Estate.  The transaction comprised of 9 logistic buildings, including 3 buildings each in a new VGP park and another 6 newly completed logistic buildings which were developed in parks previously transferred to the Joint Venture.

The 9 buildings are located in Germany (5) and in the Czech Republic (4).

The transaction value is € 203 million, which includes some future development pipeline. The net proceeds from this transaction (including disposed cash) amounts to circa € 130 million.

The net proceeds will be used for financing of existing projects under construction and new projects which will be started-up shortly and for the acquisition of new development land.

Following the completion of this fifth closing the Joint Venture's property portfolio consist of 77 completed buildings representing over 1.5 million m² of lettable area, and a gross asset value ("GAV") of € 1.56 billion.

The Joint Venture has € 950 million of committed bank facilities maturing in May 2026 which are drawn for €694 million. The bank debt is fully hedged and the weighted average cost of debt amounts to 2.01% per annum. The Loan to Value of the Joint Venture stands at 51.1% after the fifth closing.

The increase in the Joint Venture portfolio should have a further positive impact on the fee income generated by the asset-, property-, and development management services rendered by VGP to the VGP European Logistics joint venture.


Annual Financial Press Release For the period from 1 January 2018 – 31 December 2018

01 Mar 2019

Transformation into truly Pan-European platform results in record profit and creates solid base for future growth

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, today announces the results for year ended 31 December 2018:

  • Broadened European footprint, having entered Italy, the Netherlands and Austria in 2018
  • Strong operating performance resulting in record profit of € 121.1 million (+26% YoY)
     - Signed and renewed lease agreements corresponding to € 38.7 million of annualised rent income bringing the total annualised rental income to € 104.1 million (+38% YoY)[1]
     - VGP delivered 505.000 m2 of lettable area in 2018 (+44% YoY)
  • Strengthened platform for future growth
     - VGP invested in its future pipeline with 1.7 million m2 of new land bought
     - A further 1.6 million m2 committed subject to permits
     - Joint commitment with Allianz Real Estate to expand JV structure beyond existing countries[2]
  • Proposal to increase dividend by 15.8% to € 2.20 per share representing a gross dividend yield of 3.2%[3]

VGP’s Chief Executive Officer, Jan van Geet, said: “Delivering record profits, 2018 was another intensive year for VGP. We managed to successfully transform VGP towards a truly Pan-European platform as we expanded into new key markets. We put significant effort in introducing a new matrix organisation to stay close to our clients across Europe and to allow for VGP’s further geographic expansion. The significant increase of our land bank in 2018 laid the foundation for growth over the coming years.”

Jan Van Geet added: “We successfully continued our growth path in early 2019 with the expansion into Portugal and several landmark projects in Germany. We expect our development activities to continue to grow in 2019 supported by solid client demand driven by e-commerce and changing business needs. Through our integrated business model, VGP is uniquely positioned to capture the growth opportunities across Europe.”

[1] Year-over-year inclusive of Joint Venture at 100% and when excluding the sale of Mango. The Mango building located in Barcelona (Spain) sold during 2018, represented € 7.6 million in annualised rent income. [2] Of the twelve countries in which the group is active, the JV currently covers Germany, Slovakia, Czech Republic and Hungary   [3] Based on the closing share price of € 69.60 as at 28 February 2019

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VGP Announces Conference Call to Review Full Year 2018 Results

28 Feb 2019

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, announces the details for the conference call to review 2018 results:

Friday, 1 March 2019 at 10.30 a.m. (CET)
Dial-in details:
Belgium: 0800 58228 (toll free) / +32 (0)2 404 0659
UK: 0800 358 6377 (toll free) / +44 (0)330 336 9105
US: 800-239-9838 (toll free) / +1 323-794-2551
Confirmation Code: 9976957

Please join the event conference 5-10 minutes prior to the start time. The financial results are scheduled to be released at approximately 7:00 a.m. (CET) on the date noted above, and presentation slides will be made available on www.vgpparks.eu under Investors, Reports & Presentations.

 

   Location      Purpose      Phone Type      Phone Number  
Austria Participant Tollfree/Freephone 0800 005 408
Austria, Vienna Participant Local +43 (0)1 9289 266
Bahrain Participant Tollfree/Freephone 8000 4741
Bahrain, Manama Participant Local +973 1619 9290
Belgium Participant Tollfree/Freephone 0800 58228
Belgium, Brussels Participant Local +32 (0)2 404 0659
Bulgaria Participant Tollfree/Freephone 0800 15021
Bulgaria, Sofia Participant Local +359 (0)2 935 8217
Canada, Toronto Participant Local +1 647 794 4605
Croatia Participant Tollfree/Freephone 0800 806 481
Cyprus Participant Tollfree/Freephone 800 96989
Czech Republic Participant Tollfree/Freephone 800 143 356
Czech Republic, Prague Participant Local +420 225 439 753
Denmark Participant Tollfree/Freephone 80 70 16 25
Denmark, Copenhagen Participant Local +45 35 15 80 49
Egypt Participant Tollfree/Freephone 0800 000 9067
Estonia Participant Tollfree/Freephone 800 011 1853
Estonia, Tallinn Participant Local +372 674 3050
Finland Participant Tollfree/Freephone 0800 772 208
Finland, Helsinki Participant Local +358 (0)9 7479 0361
France Participant Tollfree/Freephone 0805 101 219
France, Paris Participant Local +33 (0)1 76 77 22 74
Germany Participant Tollfree/Freephone 0800 589 4609
Germany, Frankfurt Participant Local +49 (0)69 2222 13420
Germany, Munich Participant Local +49 (0)89 20303 5709
Greece Participant Tollfree/Freephone 00800 128 518
Greece, Athens Participant Local +30 211 181 3807
Hungary Participant Tollfree/Freephone 068 001 9218
Hungary, Budapest Participant Local +36 1429 2226
Iceland Participant Tollfree/Freephone 800 9369
Ireland Participant Tollfree/Freephone 1800 832 679
Ireland, Dublin Participant Local +353 (0)1 246 5638
Israel Participant Tollfree/Freephone 1809 212 883
Israel, Tel Aviv Participant Local +972 3376 1315
Italy Participant Tollfree/Freephone 800 977 396
Italy, Milan Participant Local +39 02 3600 8019
Italy, Rome Participant Local +39 06 8750 0723
Jordan Participant Tollfree/Freephone 80022523
Latvia Participant Tollfree/Freephone 8000 4161
Latvia, Riga Participant Local +371 6785 4527
Lithuania Participant Tollfree/Freephone 8800 30775
Lithuania, Vilnius Participant Local +370 5205 4830
Luxembourg Participant Tollfree/Freephone 800 24405
Luxembourg, Luxembourg Participant Local +352 2786 1336
Mexico Participant Tollfree/Freephone 01 800 062 2963
Mexico, Mexico City Participant Local +52 55 4164 4815
Netherlands Participant Tollfree/Freephone 0800 023 1436
Netherlands, Amsterdam Participant Local +31 (0) 20 721 9251
Nigeria, Lagos Participant Local +234 1 277 2430
Norway Participant Tollfree/Freephone 800 51084
Norway, Oslo Participant Local +47 2100 2610
Oman Participant Tollfree/Freephone 800 77207
Poland Participant Tollfree/Freephone 00 800 121 4059
Poland, Warsaw Participant Local +48 (0)22 206 9996
Portugal Participant Tollfree/Freephone 800 812 274
Portugal, Lisbon Participant Local +351 213 180 030
Qatar Participant Tollfree/Freephone 00 800 100 443
Romania Participant Tollfree/Freephone 0800 885 828
Romania, Bucharest Participant Local +40 (0)21 529 3974
Russian Federation Participant Tollfree/Freephone 8 800 500 9283
Russian Federation, Moscow Participant Local +7 495 213 1767
Saudi Arabia Participant Tollfree/Freephone 800 844 8805
Slovakia Participant Tollfree/Freephone 0800 002 286
Slovakia, Bratislava Participant Local +421 (0) 2 5011 2130
Slovenia Participant Tollfree/Freephone 0800 80413
Slovenia, Ljubljana Participant Local +386 1 888 8508
South Africa Participant Tollfree/Freephone 0800 998 654
South Africa, Johannesburg Participant Local +27 11 844 6054
Spain Participant Tollfree/Freephone 800 600 848
Spain, Madrid Participant Local +34 91 114 7293
Sweden Participant Tollfree/Freephone 0200 880 389
Sweden, Stockholm Participant Local +46 (0)8 5033 6574
Switzerland Participant Tollfree/Freephone 0800 200 831
Switzerland, Geneva Participant Local +41 (0)22 567 5729
Switzerland, Zurich Participant Local +41 (0)44 580 7206
Turkey Participant Tollfree/Freephone 00800 4488 29054
Turkey, Istanbul Participant Local +90 212 375 57 58
Ukraine Participant Tollfree/Freephone 0800 503 441
United Arab Emirates Participant Tollfree/Freephone 8000 3570 2653
United Kingdom Participant Tollfree/Freephone 0800 358 6377
United Kingdom, Local Participant Local +44 (0)330 336 9105
United States, Los Angeles Participant Local +1 323-794-2551
United States/Canada Participant Tollfree/Freephone 800-239-9838

VGP acquires a warehouse and industrial land plots in Graz, Austria

29 Nov 2018

VGP NV (‘VGP’ or ‘the Group’) today announces the successful acquisition of a warehouse let to a reputable automotive supplier in Graz, Austria. The new warehouse has a size of circa 17,000 SQM of gross lettable area and is leased under a long term contract. The transaction also consists of around 9 hectares of additional development land.

Jan van Geet, CEO of VGP, commented: “We are very pleased with this transaction as this building, with the adjacent development land, gives us a good starting footprint in the Austrian market, which
we will cover out of our offices in Germany for now.”

More Information

Trading update 3Q 2018

23 Nov 2018

VGP NV (‘VGP’ or ‘the Group’) today publishes a trading update for the period 1 July 2018 until 31 October 2018.

Jan van Geet, CEO of VGP, said: “We continue to see very supportive trends in all our European markets. During the quarter we sold the Mango building in Spain taking advantage of this strong market backdrop whilst improving our Group’s risk profile. The gross proceeds are being reinvested in land acquisitions and the realisation of our development pipeline.

We also managed to successfully close a bond offering and thereby extend our debt maturity profile significantly. I am very pleased with the strength of our balance sheet and our ability to invest in the future of our company.”

Jan van Geet continued: “For Amazon we delivered a second logistics centre, a facility with ultimately up to 80,000 sqm warehouse space at our extended park in Göttingen, Germany and BMW signed-up for our Munich site at Parsdorf for the development of a new warehouse for their Forschungs- und Innovationszentrum (FIZ), a main engineering and development campus, subject to achieving the necessary permits.”

Our land bank remains one of our strongest assets and we are pleased that we have been able to increase the size by securing additional strategically located sites across Europe including in Spain, Italy, Romania, Germany, Czech Republic and Slovakia.”

Jan van Geet concluded: “Our new matrix organization has been successfully rolled-out, each country is managed by a dedicated country team supported by extended Group functions including CIO office, Group Control, Investor Relations and Marketing. This streamlined organizational structure gives us the platform to deliver on our goals.

And we are excited to be expanding again, as we are soon opening an office in Portugal. This will bring the number of European countries in which we are active to twelve. We have seen a number of interesting opportunities in Portugal and we are in discussions about first plots in the Lisbon and Porto regions.”

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CONVOCATION OF A SPECIAL SHAREHOLDERS’ MEETING 2018

19 Oct 2018

The shareholders are hereby invited to attend the special shareholders’ meeting of the Company which shall take place at the offices of Argo bcvba, at City Link, fifth floor, Posthofbrug 12, 2600 Antwerp (Berchem), on Thursday 22 November 2018 at 10:00 am, with following agenda and proposed resolution:

AGENDA AND PROPOSED RESOLUTION

  1. Approval of condition 6.2 of the terms and conditions of the bonds issued by the Company on 19 September 2018 and the rights of the bondholders, as set out in part IV of the prospectus dated
    4 September 2018, for the public offer of the bonds, and in particular the approval of the change of control clause included therein, in accordance with article 556 of the Belgian Companies Code.

Proposed resolution: Condition 6.2 of the terms and conditions of the bonds issued by the Company on 19 September 2018 and the rights of the bondholders, as set out in Part IV of the prospectus dated 4 September 2018, for the public offer of the bonds, pertaining to the possibility for the bondholders to require the Company to redeem the bonds in case of a change of control, is approved, in accordance with article 556 of the Belgian Companies Code. In accordance with the requirements of article 556, second indent, of the Belgian Companies Code, this resolution shall be filed in accordance with article 75, 3° of the Belgian Companies Code and shall be published as an announcement in the Belgian State Gazette by including an extract of the minutes of this special shareholders’ meeting.

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Sale of the Mango Global Distribution Centre at Lliçà d’Amunt, Barcelona (Spain)

26 Sep 2018

VGP NV (‘VGP’ or ‘the Group’) today announced the completion of the sale of the Mango Global Distribution Centre located in its VGP Park Mango at Lliçà d’Amunt, Barcelona (Spain).

The gross proceeds of the sale amount to € 150 million and will allow VGP to realise a significant capital gain on the building compared to the acquisition price. The net proceeds will be reinvested in the further expansion of VGP’s development pipeline.

The Mango building was acquired during 2016 together with a large portion (150,000 m²) of development land. The current transaction only relates to the building. VGP will keep the large portion of development land in its own portfolio and develop it for its own account. The transaction will also result in the optimisation of the Group’s risk profile.

The Mango building is probably one of the most beautiful logistics building in Spain, built to a high specification for Mango, up to 40 meters high with a high degree of automation for the garment industry.

VGP continues to be focused on its main activity: development, leasing and management of its standardised logistic real estate i.e. buildings that are suitable for a wide range of logistical (e-commerce) purposes as well as light industrial activities, in top locations.

Jan Van Geet, CEO of VGP, comments: “The acquisition of the Mango building in 2016 was a real milestone in our introduction to the Spanish market - that is why we thought about this transaction for a long time and finally came to the conclusion that the sale of the Mango building under these conditions are in the interest of the shareholders of VGP. The proceeds from the sale will be reinvested in the further expansion of our development pipeline.”


VGP NV raises € 190 million with bond issue

12 Sep 2018

VGP announces that the public offer in Belgium for a retail bond has been closed and that an amount of € 190 million was raised. The net proceeds of the issuance of the bonds will amount to approximately € 188.4 million.

The bonds (with ISIN code BE0002611896) will be issued on 19 September 2018 and will be admitted to trading on the regulated market of Euronext Brussels.

More information on this public offer is set forth in the prospectus published by VGP NV on 5 September2018 and as approved by the Financial Services and Markets Authority (“FSMA”) on 4 September 2018 and available on the VGP NV website (http://www.vgpparks.eu/investors/en/bonds) and in each branch of KBC Bank or CBC Banque, Bolero (www.bolero.be/nl/vgp), via the Regional Advice Centres and on the website (www.kbc.be/vgp).


Public offering in Belgium of bonds for an expected amount of minimum € 175 million and maximum of € 225 million

05 Sep 2018

These Bonds constitute debt instruments. An investment in the Bonds involves risks. Before making any investment decision the investors must read the Prospectus in its entirety and more particularly the section Risk Factors (please see page 18 and following (Part I: Summary) and page 31 and following (Part II: Risk Factors)). By subscribing to the Bonds, investors lend money to the Issuer who undertakes to pay interest on an annual basis and to reimburse the principal on the Maturity Date. In case of bankruptcy or default by the Issuer, however, investors may not recover the amounts they are entitled to and risk losing all or a part of their investment. These Bonds are intended for investors who are capable of evaluating the interest rates in light of their knowledge and financial experience and who should, if required, obtain professional advice. Each decision to invest in these Bonds must be based solely on the information contained in this Prospectus (including the section Risk Factors) and more generally Factors that may affect the Issuer’s ability to fulfil its obligations under the Bonds and Factors which are material for the purpose of assessing the market risks associated with the Bonds.

VGP NV announces that it makes a public offer in Belgium of retail bonds due 19 March 2026 for an expected amount of minimum € 175 million and maximum € 225 million.

The fixed rate of the bonds is 3.50% (gross) per year. The net yield equals 2.304% per year. The bonds will be governed by Belgian law.

The bonds will be issued in denomination of € 1,000. Hence, the minimum subscription amount is equal to € 1,000. Retail investors will be charged a subscription commission of 1% per bond. The subscription period runs from 7 September 2018 until and including 12 September 2018, subject to early closing. Early closing of the subscription period is possible at the earliest on 7 September 2018 at 5:30 pm. Retail investors are encouraged to subscribe to the bonds on the first day of the subscription period, before 5:30 pm. Bonds for an aggregate nominal amount of maximum € 50 million will be reserved for retail investors subscribing through KBC Bank NV (including CBC Banque SA and KBC Securities NV). In case of over-subscription, these subscriptions will be reduced proportionally taking into consideration the maximum amount of € 50 million. If the expected aggregate nominal amount of the bonds of € 225 million is reached, a nominal amount of minimum € 175 million will be reserved for Qualified Investors.

The issue date is planned on 19 September 2018. Application has been made for the bonds to be listed on the regulated market Euronext Brussels and to be admitted to trading on the regulated market of Euronext Brussels.

KBC Bank NV will act as sole manager and bookrunner for this issuance.

A full prospectus detailing the transaction and its terms, drawn up in Dutch and English, as well as a French translation of the summary of such prospectus, can be obtained free of charge as from 5 September 2018 (before opening of the stock exchange) from VGP NV’s head office, and may be consulted as from 5 September 2018 on the VGP NV website (http://www.vgpparks.eu/investors/en/bonds) and in each branch of KBC Bank or CBC Banque, Bolero (www.bolero.be/nl/vgp), via the Regional Advice Centres and on the website (www.kbc.be/vgp).
The net proceeds of the bonds, which are expected to amount to more or less € 223,100,000 for an aggregate nominal amount of € 225 million, are intended to be used for the repayment of all or part of the outstanding debt of VGP NV under the € 75 million fixed rate bonds on their maturity date, i.e. 6 December 2018, in an amount of € 75 million. The remaining balance will be used for the acquisition of development land in the existing and new markets i.e. the Netherlands and Italy (in total € 80 million) and to further finance the development of new projects on development land for the remaining € 68.1 million. VGP NV expects that the application of the funds towards the aforementioned expansion and development plans will be made within a period of 12 to 18 months following the issuance of the bonds, to the extent market conditions are not unfavourable.