15 Equity

Development of the Subscribed Capital

in €

 

 

 

 

 

As of Jan. 1, 2018

 

485,100,826.00

Capital increase against cash contributions on May 11, 2018 (funding Victoria Park)

 

26,000,000.00

Capital increase against non-cash contributions on June 12, 2018 (scrip dividend)

 

6,977,108.00

As of June 30, 2018

 

518,077,934.00

Development of the Capital Reserves

in €

 

 

 

 

 

As of Jan. 1, 2018

 

5,966,315,814.06

Premium from capital increase for funding Victoria Park on May 11, 2018

 

969,800,000.00

Premium from capital increase for scrip dividend on June 12, 2018

 

254,580,716.70

Transaction costs on the issue of new shares (after allowing for deferred taxes)

 

-6,977,017.42

Other changes not affecting net income

 

-1,558,601.38

As of June 30, 2018

 

7,182,160,911.96

On May 11, 2018, with the agreement of the Finance Committee, Vonovia SE increased the share capital in return for a cash contribution, partially using the 2016 authorized capital and excluding a subscription right, by € 26,000,000.00 from € 485,100,826.00 to € 511,100,826.00.

The 26,000,000 new no-par-value registered shares were placed with institutional investors in the scope of a private placement by means of an accelerated bookbuilding procedure and carry dividend rights as of January 1, 2018.

The shares were granted at a placement price of € 38.30 per share, delivering issue proceeds to Vonovia SE in the amount of € 995.8 million before commission and expenses. The net issue proceeds from the capital increase is planned, among other things, for the purchase price payments in connection with the announced takeover offer made to the shareholders of Victoria Park AB.

Dividend

The Annual General Meeting held on May 9, 2018, resolved to pay a dividend for the 2017 fiscal year in the amount of € 1.32 per share.

As with last year, Vonovia offered its shareholders the option of choosing between being paid the dividend in cash or being granted new shares. During the subscription period, 40.9% of shareholders opted for the stock dividend as opposed to the cash dividend. As a result, 6,977,108 new shares were issued using the company’s authorized capital pursuant to Section 5b of the Articles of Association (“2016 authorized capital”) at a subscription price of € 37.488 per share, i.e., a total amount of € 261,557,824.70. The total amount of the dividend distributed in cash therefore came to € 378,775,265.62.

Authorized Capital

The 2016 and 2017 authorized capital was canceled by way of a resolution passed by the Annual General Meeting on May 9, 2018, in Bochum, and a new 2018 authorized capital was created in the amount of € 242,550,413.00. Shareholder subscription rights for the 2018 authorized capital can be excluded.