2018

29 Nov 2018

Press Release_Graz acquisition_28.11.2018

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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.”

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.

Convocation of a special shareholders’ meeting

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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.”

Press Release_Mango sale_EN_26.9.2018

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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).

Press Release_Close Subscription period_ENG_12.09.2018

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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.

Press Release_Launch Bond Transaction_5.9.2018_EN

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23 Aug 2018

• Record profit of € 74.8 million (+ € 12.3 million compared to 1H 2017).
• Signed and renewed annualised rental income of € 18.5 million driven by 264,000 m² of new lease agreements signed corresponding to € 15.0 million of new annualised rental income combined with 68,000 m² of lease agreements renewed corresponding to € 3.5 million of annualised rental income - the signed annualised committed leases represent € 96.8 million, equivalent to 1.90 million m² of lettable area, a 14.7% increase since December 2017.
• New development land of nearly 654,000 m² acquired and an additional 1,439,000 m² of new land plots under option, subject to receiving permits expected to be acquired during the next 12 months which adds to a total remaining development land bank as of 30 June 2018 of 3,335,000 m² (compared to 3,261,000 as at the end of December 2017).
• A total of 12 projects delivered representing 307,000 m² of lettable area, with an additional 22 projects under construction representing 455,000 m² of future lettable area.
• Closed the fourth transaction with our VGP European Logistics joint venture with a transaction value in excess of € 400 million generating net proceeds of € 289.7 million.
• Because of the current geographic expansion and the accelerated growth of the development activities, VGP is currently reviewing its financing strategy, in order to assess how best to finance its future development pipeline. The different alternatives which are being investigated include amongst others the potential issuance of new bonds.
• The earlier announced dividend distribution of € 35.3 million (€ 1.90 per share) representing a gross dividend yield of 3.1% was paid out on 16 May 2018.
  
  

Press Release_Half Year Results 2018_20180823

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02 Aug 2018

VGP NV (‘VGP’ or ‘the Company’), today announced the acquisition of its first land plots in the Netherlands.

The group acquired 267,013 m2 of new development land at Park 15 Logistics, a vast logistics development site located between Nijmegen and Arnhem. These land plots have a development potential of circa 150,000 m2 of new lettable area for future tenants. Construction f the first building is expected to start this Autumn.

Jan Van Geet, CEO of VGP, comments: “We are very happy to have been able to acquire a prime development location in the Netherlands and are keen to start our first developments during 2018. We have currently also identified an additional attractive development location in the Netherlands for which negotiations are in final stages. Both locations should provide a solid base to start our development activities in the Netherlands.”

Park 15 Logistics is a strategically located logistics park in the East of the Netherlands. The park benefits from ease of access by road, rail and water towards Rotterdam and the German Ruhr region. Additionally, the park already has a number of high profile users including Nabuurs, the supply chain solutions company, operating a shared services centre at the park with a focus on fast-moving consumer goods, and Lidl, the fast growing
retailer, is building its own distribution centre.

Press Release_Netherlands_20180802

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11 May 2018

Jan Van Geet, CEO of the VGP Group, said: “We have had a very good start of 2018 securing € 10.4 million of new and renewed rental income. Demands for lettable space remain strong in all of our markets and a significant number of new lease contracts are about to be signed which will further add to the annualised committed rental income. The development pipeline currently includes 26 new projects under construction which represent € 24.1 million of new rental income when fully developed and let. During the first quarter we opened new offices in Italy and the Benelux and we are currently in final negotiations to acquire our first land plots in these new markets. We also made good progress in the further development of our team and have been able to attract a number of strong and highly qualified profiles to support our next growth phase.”

10 Apr 2018

The shareholders are hereby invited to attend the annual shareholders’ meeting of the Company which shall take place at the Crowne Plaza Brussels Airport Hotel, Leonardo Da Vincilaan 4, 1831 Machelen (Diegem), on Friday 11 May 2018 at 10:00 am, with following agenda and proposed resolutions:

AGENDA AND PROPOSED RESOLUTIONS

1. Acknowledgement and discussion of the annual report of the board of directors and the report of the auditor on the annual accounts for the financial year ending 31 December 2017.
2. Acknowledgement and approval of the remuneration report for the financial year ending 31 December 2017.
   Proposed resolution: The general meeting approves the remuneration report for the financial year ending 31 December 2017.
3. Acknowledgement and approval of the annual accounts for the financial year ending 31 December 2017 and allocation of the results.
   Proposed resolution: The general meeting approves the annual accounts for the financial year ending 31 December 2017. The general meeting approves the allocation of the results as proposed by the board of directors, including the payment of a gross dividend of EUR 1.9 per share. The dividend will be made payable on 16 May 2018.
4. Acknowledgment and discussion of the annual report of the board of directors and the report of the auditor on the consolidated annual accounts for the financial year ending 31 December 2017.
5. Acknowledgment of the consolidated annual accounts for the financial year ending 31 December 2017.
6. Release from liability to be granted to the directors and to the respective permanent representatives of the legal entity-directors.
   Proposed resolution: The general meeting resolves, by a separate vote, that the directors and the respective permanent representatives of the legal entity-directors be released from any liability arising from the performance of their duties during the financial year ending 31 December 2017.
7. Release from liability to be granted to the auditor.
   Proposed resolution: The general meeting resolves that the auditor be released from any liability arising from the performance of its duties during the financial year ending 31 December 2017.
8. Determination of a one-off additional remuneration for the independent directors of the Company.
   Proposed resolution: The general meeting approves the proposal of the board of directors with regard to the one-off additional remuneration of EUR 35,000 per independent director of the Company.

23 Feb 2018

• Record profit for the period of € 96.0 million (+ € 4.7 million compared to 31 December 2016)
• Proposal for the distribution of a dividend of € 35.3 million (€ 1.90 per share) representing a gross dividend yield of 3.1%^[1].
• Record signed and renewed rental income of € 27.4 million driven by 484,000 m² of new lease agreements signed corresponding to € 24.3 million of new annualised rental income combined with 61,000 m² of lease
  agreements renewed corresponding to € 3.1 million of annualised rental income. Total net increase of € 21.7 million when considering the sale of Estonia.
• The signed annualised committed leases represent € 82.8 million equivalent to 1.66 million m² of lettable area, a 35.0% increase since December 2016 (when excluding Estonia).
• New development land of 729,939 m² acquired and an additional 1,452,336 m² of new land plots under option, subject to receiving permits expected to be acquired during 2018 which adds to a total remaining development
  land bank as of December 2017 of 3,261,364 m² (34% net increase since December 2016)
• A total of 17 projects delivered representing 349,871 m² of lettable area, with an additional 22 projects under construction representing 475,113 m² of future lettable area. It is expected that more than 200,000 m² of lettable area will be delivered during the first quarter of 2018.
• Continued geographical expansion into Western Europe with consolidation of presence in Spain where 4 buildings are under construction (2 new buildings started up after year-end) and where 3 new lease contracts with blue chip tenants were signed during the past few months.
• VGP European Logistics joint venture saw one closing in 2017 of €173 million, this is expected to be followed by an > € €370 million closing by end of March 2018 which will allow VGP to reinvest in its development pipeline and continue to grow the business.
• A new long-term remuneration plan aligned with shareholders’ interests, based on the growth of VGP’s NAV, is currently being reviewed by the remuneration committee and will disclosed in further detail in the remuneration report included in the Annual Report 2017. The new plan will be applicable as from 2018 onwards.
• Conservative financing policy in place with a current gearing of 42.3%, in line with the Company’s target maximum consolidated gearing of 55%.

^{[1] Based on the closing share price of € 62.20 as at 20 February 2018.}

Press Release_Annual Results_2017

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