MERLIN Properties successfully completes its capital increase

• The capital increase has been executed through the issuance of 64,605,999 new shares, amounting to gross proceeds of approximately 613.7 million euros. The new shares will start trading on May 12th.
• Investors have placed orders for shares for a total amount of 851,448,993 new shares (64,481,098 in the preemptive subscription period and 786,967,895 shares in the additional shares allocation period), resulting in an oversubscription of 13.2 times.

Following up on the relevant fact published on 15 April 2015, and after the expiry of the preemptive subscription period and additional shares allocation period provided for in the prospectus regarding the share capital increase of MERLIN, the Company informs that 64,605,999 shares have been subscribed for, amounting to gross proceeds of 613,756,990.5 euros, as detailed below:
a) Preemptive Subscription Period: during the Preemptive Subscription Period, which ended on 2 May 2015, 64,481,098 shares of MERLIN, representing 99.8% of the shares offered in the share capital increase, have been subscribed for, leaving 124,901 shares available for allocation during the following periods.

b) Additional Shares Allocation Period: 786,967,895 additional shares of MERLIN were requested. Given that the number of additional shares requested exceeded the 124,901 shares available for allocation, the Agent Bank of the share capital increase proceeded to the pro-rata allotment of such shares as provided for in the Prospectus.

New shares represent 50% of the company’s share capital before the capital increase and 33.3% of its share capital after the capital increase.
“The excellent reception of investors to the capital increase evidences the strong interest of institutional investors for Spain, and shows once again that the market supports MERLIN as the real estate company of reference and backs its growth plan”, said Ismael Clemente, CEO of MERLIN.