DGAP-News: CPI PROPERTY GROUP / Key word(s): Share Buyback
CPI PROPERTY GROUP - Completion of Share Buy-Back Offer

26.02.2021 / 19:33
The issuer is solely responsible for the content of this announcement.

CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

Press Release - Corporate News

Luxembourg, 26 February 2021

CPI PROPERTY GROUP - Completion of Share Buy-Back Offer

On 15 February 2021, CPI PROPERTY GROUP ("CPIPG" or the "Company") announced the intention to purchase up to 650,000,000 shares under CPIPG's share buy-back programme (the "Offer"). On 22 February 2021 the Company announced that at the closing of the Offer period, shareholders of the Company presented a total of 641,658,176 shares for tender (the "Tendered Shares").

Today, CPIPG completed the Offer and purchased a total of 641,658,176 Tendered Shares for an aggregate amount of EUR 395,261,436 (or EUR 0.616 per Tendered Share). CPIPG intends to cancel the Tendered Shares through a share capital reduction. In this respect, the Company shall convene a general meeting of shareholders to resolve on the cancellation of these Tendered Shares.

About 94% of Tendered Shares were tendered by Company's primary shareholder, Radovan Vitek (350,500,000 shares) and the Company's subsidiary CPI FIM SA (252,302,248 shares). The rest of the tenders were from management and third parties.

As a result of these transactions, the Company has acquired own shares exceeding 5% of the voting rights and makes this announcement in accordance with Article 13 of the Luxembourg Transparency Law. As of 26 February 2021, the Company directly holds 641,658,176 own shares, which represent 7.42% of the total 8,651,716,331 shares outstanding. In addition, the Company's indirect subsidiary, Pietroni, holds 67,000,000 Company shares (0.77% of the total shares outstanding). On a consolidated basis, the Company holds and controls 708,658,176 own shares which represent 8.19% of the total 8,651,716,331 shares outstanding. The voting rights attached to the 708,658,176 own shares are suspended.

For further information please contact:

Investor Relations

David Greenbaum
Chief Financial Officer

Joe Weaver
Director of Capital Markets

For more on CPI Property Group, visit our website: www.cpipg.com

26.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
40, rue de la Vallée
L-2661 Luxembourg
Phone: +352 264 767 1
Fax: +352 264 767 67
E-mail: contact@cpipg.com
Internet: www.cpipg.com
ISIN: LU0251710041
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart
EQS News ID: 1171747

End of News DGAP News Service

1171747  26.02.2021