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COVIVIO (EPA:COV) - The option of dividend payment with shares chosen by 82.7% of shares

Directive transparence : information réglementée Autres communiqués

03/06/2019 18:09

PRESS RELEASE

                                                          Paris, 3 June 2019

     The option of dividend payment with shares chosen by 82.7% of shares

At the end of the fiscal year period, open from 15 to 29 May, 82.7% of shares
opted for payment of the dividend of EUR4.60 in shares.

Payment of the dividend and settlement and delivery of the new shares will take
place on 5 June. The 3 885 719 new shares(1) thus issued will bear rights as at
1 January 2019, and will be subject to a request for admission for trading on
the regulated Euronext Paris market as well as on the MTA (Mercato Telematico
Azionario) market of the Milan stock exchange. The issue price of new shares is
EUR81.29, corresponding to 90% of the average closing price of the 20 sessions
of the stock market prior to the Combined General Meeting, less the amount of
the dividend(2).

This operation represents a capital increase of EUR315.9 Million and once again
illustrates shareholders' confidence in Covivio's strategy. It allows the
company to significantly advance towards its goal of LTV below 40%, while
pursuing its investments, particularly in the development pipeline, which
offers high returns.

CONTACTS

Press Relations
Géraldine Lemoine
Tel : + 33 (0)1 58 97 51 00
geraldine.lemoine@covivio.fr

Investor Relations
Paul Arkwright
Tel : + 33 (0)1 58 97 51 85
paul.arkwright@covivio.fr

Laetitia Baudon
Tel : + 33 (0)1 44 50 58 79
laetitia.baudon@shan.fr

(1) The total number of issued shares post admission of those new shares will
    be 87 141 661
(2) The issuance price is rounded up to the nearest cent of a euro.
    If the amount of dividends for which the option is exercised does not
    correspond to a whole number of shares, shareholders may obtain the next
    lower whole number of shares with the balance being paid in cash by
    Covivio.

ABOUT COVIVIO

Thanks to its partnering history, its real estate expertise and its European
culture, Covivio is inventing today's user experience and designing tomorrow's
city.
A preferred real estate player at the European level, Covivio is close to its
end users, capturing their aspirations, combining work, travel, living, and
co-inventing vibrant spaces.

A benchmark in the European real estate market with EUR23Bn in assets, Covivio
offers support to companies, hotel brands and regions in their pursuit of
attractiveness, transformation and responsible performance.

Its living, dynamic approach opens up exciting project and career prospects for
its teams.

Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 -
COV) and the MTA market (Mercato Telematico Azionario) on the Milan stock
exchange, are admitted to trading on the SRD and are included in the
composition of the MSCI, SBF120, Euronext IEIF "SIIC France" and CAC Mid100
indices, in the "EPRA" and "GPR 250" benchmark European real estate indices,
EPRA BPRs Gold Awards (financial + sustainability), CDP (A), Green Star GRESB,
and in the ESG FTSE4 Good, DJSI World & Europe, Euronext Vigeo (World 120,
Eurozone 120, Europe 120 and France 20), Euronext(r) CDP Environment France EW
Oekom, Ethibel and Gaïa ethical indices.
Covivio is rated BBB/Positive outlook by Standard and Poor's.

WARNING

This press release does not constitute an offer to purchase financial
securities, subject to drawing up a prospectus. This press release and any
other document relating to payment of dividends with shares may be distributed
outside of France only in accordance with the applicable local laws and
regulations and shall not constitute an offer for financial securities in
countries where such an offer would violate applicable laws and regulations.

The option of receiving dividends for the 2018 fiscal year is thus open to all
Covivio shareholders, with the exception of those residing in any country for
which such an option would require registration or obtaining authorisation from
local stock market authorities. Shareholders residing outside of France should
apprise themselves of any possible local restrictions and comply with them.
Shareholders should themselves be apprised of any terms and conditions or
consequences related to any such options that may likely be applied pursuant to
local statutes. When they decide to opt or not for payment of the dividend in
shares, shareholders must take into consideration the risks associated with an
investment in Covivio shares.