26 05 2014

Announcement of Change of Control

Berlin, 26 May 2014 – In 2012, ESTAVIS AG issued a convertible bond (ISIN: DE000A1PHDA3) that will mature in June 2017. The issuer has announced pursuant to Art. 14, Sec. 1, Bond Terms, that a change of control has taken place as of the expiration of the acceptance period concerning the offer submitted to the shareholders of Estavis AG by Adler Real Estate AG as result of an acceptance rate exceeding 30 percent. 

The creditors of convertible bond 2012/2017 (ISIN DE000A1PHDA3) now have the right either to demand redemption of their convertible bonds or to convert them into shares of Estavis until 08 July 2014 (effective date). Pursuant to Art. 14, Sec. 1, Bond Terms, the conversion price was lowered from Euro 2.40 to Euro 2.0861. Each convertible bond certificate submitted will be converted into 1.1504 shares of Estavis AG.