Investor news

VGP steps up its activity in the Netherlands

02 Aug 2018

VGP NV (‘VGP’ or ‘the Company’), today announced the acquisition of its first land plots in the Netherlands.

The group acquired 267,013 m2 of new development land at Park 15 Logistics, a vast logistics development site located between Nijmegen and Arnhem. These land plots have a development potential of circa 150,000 m2 of new lettable area for future tenants. Construction f the first building is expected to start this Autumn.

Jan Van Geet, CEO of VGP, comments: “We are very happy to have been able to acquire a prime development location in the Netherlands and are keen to start our first developments during 2018. We have currently also identified an additional attractive development location in the Netherlands for which negotiations are in final stages. Both locations should provide a solid base to start our development activities in the Netherlands.”

Park 15 Logistics is a strategically located logistics park in the East of the Netherlands. The park benefits from ease of access by road, rail and water towards Rotterdam and the German Ruhr region. Additionally, the park already has a number of high profile users including Nabuurs, the supply chain solutions company, operating a shared services centre at the park with a focus on fast-moving consumer goods, and Lidl, the fast growing
retailer, is building its own distribution centre.


Trading Update

11 May 2018

Jan Van Geet, CEO of the VGP Group, said: “We have had a very good start of 2018 securing € 10.4 million of new and renewed rental income. Demands for lettable space remain strong in all of our markets and a significant number of new lease contracts are about to be signed which will further add to the annualised committed rental income. The development pipeline currently includes 26 new projects under construction which represent € 24.1 million of new rental income when fully developed and let. During the first quarter we opened new offices in Italy and the Benelux and we are currently in final negotiations to acquire our first land plots in these new markets. We also made good progress in the further development of our team and have been able to attract a number of strong and highly qualified profiles to support our next growth phase.”

More Information

CONVOCATION OF THE ANNUAL SHAREHOLDERS’ MEETING

10 Apr 2018

The shareholders are hereby invited to attend the annual shareholders’ meeting of the Company which shall take place at the Crowne Plaza Brussels Airport Hotel, Leonardo Da Vincilaan 4, 1831 Machelen (Diegem), on Friday 11 May 2018 at 10:00 am, with following agenda and proposed resolutions:

AGENDA AND PROPOSED RESOLUTIONS

  1. Acknowledgement and discussion of the annual report of the board of directors and the report of the auditor on the annual accounts for the financial year ending 31 December 2017.
  2. Acknowledgement and approval of the remuneration report for the financial year ending 31 December 2017.
    Proposed resolution: The general meeting approves the remuneration report for the financial year ending 31 December 2017.
  3. Acknowledgement and approval of the annual accounts for the financial year ending 31 December 2017 and allocation of the results.
    Proposed resolution: The general meeting approves the annual accounts for the financial year ending 31 December 2017. The general meeting approves the allocation of the results as proposed by the board of directors, including the payment of a gross dividend of EUR 1.9 per share. The dividend will be made payable on 16 May 2018.
  4. Acknowledgment and discussion of the annual report of the board of directors and the report of the auditor on the consolidated annual accounts for the financial year ending 31 December 2017.
  5. Acknowledgment of the consolidated annual accounts for the financial year ending 31 December 2017.
  6. Release from liability to be granted to the directors and to the respective permanent representatives of the legal entity-directors.
    Proposed resolution: The general meeting resolves, by a separate vote, that the directors and the respective permanent representatives of the legal entity-directors be released from any liability arising from the performance of their duties during the financial year ending 31 December 2017.
  7. Release from liability to be granted to the auditor.
    Proposed resolution: The general meeting resolves that the auditor be released from any liability arising from the performance of its duties during the financial year ending 31 December 2017.
  8. Determination of a one-off additional remuneration for the independent directors of the Company.
    Proposed resolution: The general meeting approves the proposal of the board of directors with regard to the one-off additional remuneration of EUR 35,000 per independent director of the Company.
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VGP reports full year 2017 record profits

23 Feb 2018

  • Record profit for the period of € 96.0 million (+ € 4.7 million compared to 31 December 2016)
  • Proposal for the distribution of a dividend of € 35.3 million (€ 1.90 per share) representing a gross dividend yield of 3.1%[1].
  • Record signed and renewed rental income of € 27.4 million driven by 484,000 m² of new lease agreements signed corresponding to € 24.3 million of new annualised rental income combined with 61,000 m² of lease
    agreements renewed corresponding to € 3.1 million of annualised rental income. Total net increase of € 21.7 million when considering the sale of Estonia.
  • The signed annualised committed leases represent € 82.8 million equivalent to 1.66 million m² of lettable area, a 35.0% increase since December 2016 (when excluding Estonia).
  • New development land of 729,939 m² acquired and an additional 1,452,336 m² of new land plots under option, subject to receiving permits expected to be acquired during 2018 which adds to a total remaining development
    land bank as of December 2017 of 3,261,364 m² (34% net increase since December 2016)
  • A total of 17 projects delivered representing 349,871 m² of lettable area, with an additional 22 projects under construction representing 475,113 m² of future lettable area. It is expected that more than 200,000 m² of lettable area will be delivered during the first quarter of 2018.
  • Continued geographical expansion into Western Europe with consolidation of presence in Spain where 4 buildings are under construction (2 new buildings started up after year-end) and where 3 new lease contracts with blue chip tenants were signed during the past few months.
  • VGP European Logistics joint venture saw one closing in 2017 of €173 million, this is expected to be followed by an > € €370 million closing by end of March 2018 which will allow VGP to reinvest in its development pipeline and continue to grow the business.
  • A new long-term remuneration plan aligned with shareholders’ interests, based on the growth of VGP’s NAV, is currently being reviewed by the remuneration committee and will disclosed in further detail in the remuneration report included in the Annual Report 2017. The new plan will be applicable as from 2018 onwards.
  • Conservative financing policy in place with a current gearing of 42.3%, in line with the Company’s target maximum consolidated gearing of 55%.

[1] Based on the closing share price of € 62.20 as at 20 February 2018.

More Information

Disclosure in accordance with the Law of 2 May 2007 - Transparency law_20171102

02 Nov 2017

Transparency notification by Mr Bart Van Malderen

VGP NV has received a transparency notification dated 31 October 2017 that (i) by virtue of the disposal of 235,997 shares on 27 October 2017, VM Invest NV now holds 22.69% of the voting rights of VGP NV, and (ii) by virtue of the disposal of 3,545,250 shares on 27 October 2017, Bart Van Malderen no longer directly holds any of the voting rights of VGP NV.

Together, VM Invest NV, Bart Van Malderen and VGP MISV Comm. VA now hold 27.69% of the voting rights of VGP NV. Therefore, their voting rights have fallen below the threshold of 30%.

The notification dated 31 October 2017 contains the following information:

  • Reason for notification:
    Acquisition or disposal of voting securities or voting rights.

  • Notification by:
    A parent undertaking or a controlling person.

  • Persons subject to the notification requirement:
    VM Invest NV, Spinnerijstraat 12, 9240 Zele
    Bart Van Malderen
    VGP MISV Comm. VA, Spinnerijstraat 12, 9240 Zele

  • Date on which the threshold is crossed:
    27 October 2017.

  • Threshold that is crossed:
    30%.

  • Denominator:
    18,583,050.

  • Notified details:

    Previous notification After the transaction
    Number of voting rights Number of voting rights % of voting rights
    VM Invest NV 4,451,668 4,215,671 22.69% 
    Bart Van Malderen 3,545,250 0 0.00%
    VGP MISV Comm. VA 929,153 929,153 5.00% 
    Total 8,926,071 5,144,824 27.69%

 

  • Chain of controlled undertakings through which the holding is effectively held:
    VM Invest NV is controlled exclusively by Mr Bart Van Malderen. As statutory manager of VGP MISV Comm. VA, Mr Bart Van Malderen also has exclusive control over VGP MISV Comm. VA.



Disclosure in accordance with the Law of 2 May 2007 - Transparency law_2.11.2017

02 Nov 2017

Transparency notification by Mr Jan Van Geet

VGP NV has received a transparency notification dated 2 November 2017 that Little Rock SA now holds, by virtue of the disposal of 743,322 shares on 27 October 2017, 21.33% of the voting rights of VGP NV.

Together, Little Rock SA, Jan Van Geet and Alsgard SA now hold 34.30% of the voting rights of VGP NV. Therefore, their voting rights have fallen below the threshold of 35%.

The notification dated 2 November 2017 contains the following information:

  • Reason for notification:
    Acquisition or disposal of voting securities or voting rights.

  • Notification by:
    A parent undertaking or a controlling person.

  • Persons subject to the notification requirement:
    Little Rock SA, 25 Boulevard Prince Henri, L-1724 Luxembourg, Luxemburg
    Jan Van Geet
    Alsgard SA, 25 Boulevard Prince Henri, L-1724 Luxembourg, Luxemburg

  • Date on which the threshold is crossed:
    27 October 2017.

  • Threshold that is crossed:
    35%.

  • Denominator:
    18,583,050.

  • Notified details:

    Previous notification After the transaction
    Number of voting rights Number of voting rights % of voting rights
    Little Rock SA 4,707,752 3,964,430 21.33%
    Jan Van Geet 0 0 0.00%
    Alsgard SA 2,409,914 2,409,914 12.97% 
    Total 7,117,666 6,374,344 34.30%


  • Chain of controlled undertakings through which the holding is effectively held:
  • Little Rock SA (previously JVG Invest SA) and Alsgard SA are both exclusively controlled by Mr Jan Van Geet.

 


VGP presents an update on the third quarter of 2017 to present date and business highlights

27 Sep 2017

27 September 2017, Diegem (Belgium) – VGP NV (‘VGP’ or ‘the Group’, Euronext Brussels ISIN BE0003878957) today announced an update on the third quarter of 2017 to present date and business highlights.
Highlights of the trading update and business highlights

  • € 3.3 million of additional new leases signed bringing the annualised committed leases for the year to date to € 77.2 million (+ € 17.1 million compared to 31 December 2016) with several new leases in advanced / final phase(s) of negotiations
  • 328,246 sqm of new land plots acquired adding 159,208 sqm of additional development lettable area potential
  • 660,000 sqm of new land plots secured which brings the total land bank under option to 1,300,000 sqm having a development potential of circa 600,000 sqm of future lettable area
  • Completion of the sale of VGP Park Nehatu (Estonia) which represented 77,000 sqm of lettable area (5 buildings) and € 4.2 million of annualised committed leases). Net proceeds of the sale of circa € 34.5 million to be re-applied towards the further expansion of the development activities in the core markets
  • Development of 6 new projects started up totalling 46,536 sqm of future lettable area increasing the current buildings under construction to 563,198 sqm of future lettable area. These buildings under construction on which 76% pre-leases have already been signed, represent a total estimated annualised rent income of € 26.9 million (assuming full occupancy and current market rental conditions)
  • The completed buildings (of both the own and joint venture portfolios) remain 100% let
More Information

Successful completion of the sale of VGP Park Nehatu (Estonia)

15 Sep 2017

VGP has successfully completed the sale its VGP Park Nehatu located in Tallinn (Estonia) to East Capital Baltic Property fund III, a fund managed by East Capital.

The transaction covers a total of 5 modern logistics buildings with a total of more than 77,000 m2 of lettable area. The net proceeds of the transaction are circa € 34.5 million.

Jan Van Geet, CEO of VGP, said: “We are pleased the have concluded this transaction with East Capital which leaves our Estonian tenants in good hands for the future. The net proceeds will be re-applied towards the further expansion of our development activities in our more core markets i.e. Germany, Eastern Europe and Spain, which are continuing to record solid growth.”



Bart Van Malderen considers reducing his shareholding in VGP NV

30 Aug 2017

The Board of Directors of VGP NV (“VGP” or the “Company”), the developer, manager and owner of high quality real estate in Europe, has been informed that Bart Van Malderen, currently the largest shareholder of VGP, with a total shareholding of 43% (via VM Invest NV and in individual capacity), is considering a reduction of his shareholding in VGP through a secondary public offering of existing ordinary shares (the “Offering”). VGP would not be issuing new ordinary shares and would not be receiving any proceeds from the Offering.

Bart Van Malderen is a historic investor in the Company and has supported it since its initial start-up phase. Now, 10 years after the Company's stock market listing, he believes, that the Company has reached the critical size to broaden its investor base in Belgium and internationally. This Offering will also allow VGP to significantly improve the liquidity of its shares and diversify its institutional and retail shareholder base. Prior to the Offering, the Company’s free float is 10.14%.

Following the Offering, Bart Van Malderen will continue to hold a significant stake in VGP and serve on the board as a director.

The Board of Directors of VGP has also been informed that Jan Van Geet (owner currently of 38% of VGP via Little Rock SA and Alsgard SA), also intends to divest a small part of his shareholding, but will continue to hold more than 30% of VGP after the Offering and will remain CEO of VGP, a position he has held since the founding of the Company.

At this stage, VGP understands that no final decision to proceed with the Offering has been made. Such decision will depend on a number of factors, including a favourable capital markets environment. There can consequently be no assurance as to if, when or on what conditions Bart Van Malderen, VM Invest NV and Little Rock SA will offer part of their respective shareholding in VGP.

The shares of VGP are listed and publicly traded on the regulated market of Euronext Brussels and on the Main Market of the Prague Stock Exchange.

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Important notice

The information contained in this announcement is for general information only and does not purport to be full or complete. This announcement does not constitute, or form part of, an offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for shares, and any purchase of, or application for, shares in the Company to be sold in connection with the Offering should only be made on the basis of information contained in the prospectus to be issued by the Company in due course in connection with the Offering and any supplements thereto, as the case may be. This announcement is not a prospectus. The prospectus will contain detailed information about the Company and its management, risks associated with investing in the Company, as well as financial statements and other financial data.

No announcement or information regarding the Offering, as the case may be, or shares referred to above may be disseminated to the public in jurisdictions outside of Belgium where a prior registration or approval is required for such purpose. No steps have been taken, or will be taken, for the Offering or shares of the Company in any jurisdiction outside of Belgium where such steps would be required. The purchase of shares of the Company are subject to special legal or statutory restrictions in certain jurisdictions. The Company is not liable if the aforementioned restrictions are not complied with by any person.

The securities to which this release relates have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States absent registration under the Securities Act or pursuant to an exemption from such registration.

In member states of the European Economic Area (“EEA”) other than Belgium, this announcement is only addressed to and directed at persons (i) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC and amendments thereto, including Directive 2010/73/EU, to the extent implemented in the relevant Member State of the EEA) and any implementing measure in each relevant Member State of the EEA (the “Prospectus Directive”), or (ii) in any other circumstances not requiring the Company to publish a prospectus in such relevant Member State of the EEA as provided under Article 3(2) of the Prospectus Directive. In addition, this document is being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “relevant persons”). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing the entire amount invested. Persons considering such investments should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning the Offering. The value of the shares can decrease as well as increase.


Half year results 2017: VGP performs at record levels

22 Aug 2017

VGP NV (‘VGP’ or ‘the Group’, Euronext Brussels ISIN BE0003878957) today announced results for the six months ending 30 June 2017.

  • Profit for the period of € 62.5 million (+ € 19.7 million compared to 30 June 2016)
  • Net valuation gain on the investment portfolio reaches € 59.9 million (compared to € 65.1 million at the end of June 2016)
  • At the end of May, a third closing occurred with the VGP European Logistics joint venture (50/50 JV with Allianz Real Estate) with a transaction value in excess of € 173 million
  • Capital distribution in cash of € 20.1 million (€ 1.08 per share) paid to the shareholders on 4 August 2017

VGP, the developer, manager and owner of high quality logistics real estate in Europe, has today published its half-year 2017 results. The Group experienced strong growth in all its active markets, with profits for the period up to € 62.5 million, an increase of 46.1% on the same period last year, and net valuation gain on the portfolio amounting to €59.9 million.

Jan Van Geet, CEO of VGP Group, said: “We are delighted with a positive set of half yearly results which demonstrate the strength of our business model. Our future project pipeline is robust, supported by a successful bond issuance program that has exceeded expectations, and we are completing current projects at record pace, driving profits higher from this period last year. We believe in rewarding the loyalty of our investors and so we are delighted to share our success with them.”

More Information

VGP sells its VGP Park Nehatu (Estonia) for € 54 million

03 Jul 2017

VGP has sold its VGP Park Nehatu located in Tallinn (Estonia) for € 54 million to East Capital Baltic Property fund III, a fund managed by East Capital.

The transaction covers a total of 5 modern logistics buildings with a total of more than 77,000 m2 of lettable area.

Jan Van Geet, CEO of VGP, said:
“This deal underlines the quality of what we have realised in the past few years in Estonia and we are particularly pleased that we have been able to conclude this transaction with East Capital. This transaction marks the second transaction with East Capital in Estonia, the first one being the sale in 2012 of newly built logistic properties totalling 40,000 m² located on the south side of Tallinn. The transaction will allow us to further expand our activities in our other more core markets i.e. Germany, Eastern Europe and Spain.”

The sale to East Capital is scheduled for completion during the third quarter of 2017, subject to the fulfilment of contract terms and regulatory approval.


VGP NV raises € 75 million with bond issue after the first day

23 Jun 2017

VGP announces that the public offer in Belgium for a retail bond has been closed, in consultation with the Lead Manager, KBC Bank NV, after the first day of the subscription period because the maximum amount of € 75 million was largely achieved.

The Lead Manager received a total amount of subscriptions that is more than 3.5 times higher than the maximum issue amount expected of € 75 million. For this reason, subscriptions will be reduced accordingly. The investors will receive more information in this regard via their financial intermediary. The bonds will be issued on 6 July 2017 and will be admitted to trading on the regulated market of Euronext Brussels.

More information on this public offer is set forth in the prospectus published by VGP NV on 21 June 2017 and as approved by the Financial Services and Markets Authority (“FSMA”) on 20 June 2017 and available at www.vgpparks.eu and www.kbc.be/vgp.


Public offering in Belgium of bonds for an expected amount of minimum € 50 million and maximum of € 75 million

21 Jun 2017

VGP NV announces that it makes a public offer in Belgium of retail bonds due 6 July 2024 for an expected amount of minimum € 50 million and maximum € 75 million.

The fixed rate of the bonds is 3.25% (gross) per year. The net yield equals 2.120% per year.

The bonds will be issued in denomination of € 1,000. Retail investors will be charged a subscription fee of € 10 per bond. The subscription period runs from 23 June 2017 until and including 30 June 2017, subject to early closing. The issue date is planned on 6 July 2017. Application has been made for the bonds to be listed on the regulated market Euronext Brussels and to be admitted to trading on the regulated market of Euronext Brussels.

KBC Bank NV will act as sole manager and bookrunner for this issuance.

A full prospectus detailing the transaction and its terms, drawn up in Dutch and English, as well as a French translation of the summary of such prospectus, can be obtained free of charge as from 21 June 2017 (before opening of the stock exchange) from VGP NV’s head office, and may be consulted as from 21 June 2017 on the VGP NV website (www.vgpparks.eu) and in each branch of KBC Bank or CBC Banque, Bolero (www.bolero.be), via the Regional Advice Centres and on the website (www.kbc.be/vgp).

The proceeds of the bonds will be used to repay all outstanding debt of VGP NV under the EUR 75 million fixed rate bond maturing on 12 July 2017.


VGP details payment of capital reduction Payment of € 1.08 per share to shareholders on 4 August 2017

31 May 2017

On 12 May 2017 the Extraordinary General Shareholders’ Meeting of VGP NV approved the proposed distribution of € 1.08 per share.

The payment date for the distribution of the capital reduction has been fixed on 4 August 2017.

As of 1 August 2017 (ex date), the shares of VGP NV will be traded on Euronext Brussels ex coupon no 5. The record date will be 3 August 2017. The right to receive the payment will be represented by coupon no. 5.

The effective payment of the shareholder disbursement for registered and dematerialized shares will occur on 4 August 2017 upon presentation of coupon no. 5 at KBC Bank.


Trading update for the first four months of 2017

12 May 2017

  • Annualised committed leases increase to € 72.4 million at the end of April 2017 (+ € 8.1 million compared to 31 December 2016).
  • The weighted average term of the annualised committed leases of the combined own and Joint Venture portfolio stood at 10.1 years (compared to 10.3 years as at 31 December 2016). The own portfolio reached 13.2 years (compared 14.1 years as at 31 December 2016) and 7.7 years (compared to 7.8 years as at 31 December 2016) for the Joint Venture portfolio.
  • The signed annualised committed leases at the end of April represent a total of 1,440,594 m² (compared to 1,278,238 m² as at 31 December 2016) of lettable area of which 704,979 m² (compared to 545,715 m² as at 31 December 2016) relates to the own portfolio and 735,617 m² (compared to 732,523 m² as at 31 December 2016) to the VGP European Logistics joint venture.
  • 5 projects delivered during the first four months, representing 115,253 m² of lettable area. In addition, 24 projects under construction representing 463,258 m² of future lettable area.
  • Further expansion of land bank in Germany with the acquisition of 104,069 m² of development land. In addition, new land plots totalling 273,142 m² were secured, of which the majority, subject to obtaining the necessary permits, will be acquired in the course of the next 12 months.
  • Launch of the construction of the first building (22,980 m²) in Madrid (Spain) to occur during the month of May 2017.
  • New closing anticipated with VGP European Logistics joint venture at the end of May 2017, for a transaction value in excess € 173 million.
  • Successful placement of a new 8 year € 80 million institutional bond on 30 March 2017.
  • Agreement for the potential sale of VGP Park Nehatu reached following its full development, with proceeds to be re-invested into the development pipeline.
  • Meanwhile, VGP is working intensively on further geographical expansion.

2017 announces to be another promising and dynamic year for VGP. During the first quarter VGP continued to record a strong demand for lettable area in most of its parks and development activities continued to perform at record levels. The activities seen and undertaken by VGP during the first few month of 2017 can be summarised as follows:

  • The increase in demand of lettable area resulted in the signing of new lease contracts in excess of € 10.4 million (own and VGP European Logistics portfolio) of which € 8.8 million related to new or replacement leases (€ 2.3 million on behalf of VGP European Logistics) and € 1.6 million (€1.4 million on behalf of VGP European Logistics) were related to renewals of existing lease contracts. During the year lease contracts for a total amount of € 0.7 million were terminated.
  • The occupancy rate of the Group’s property portfolio remained stable at 98.9% as at the end of April 2017 compared to 98.8% at the end of December 2016 (including VGP European Logistics). At the end of April 2017 the occupancy rate of the own portfolio stood at 97.4% (compared to 97.0% at the end of 2016) and at 100% for VGP European Logistics (same as at the end of 2016).
  • The own investment property portfolio consists of 18 completed buildings representing 471,644 m² of lettable area whereas the Joint Venture property portfolio consists of 35 completed buildings representing 634,475 m² of lettable area.
  • At the end of April 2017, 24 buildings representing 463,258 m² of lettable area were under construction of which 5 buildings were being constructed for VGP European Logistics.
  • At the end of May 2017 another closing is expected to occur with the VGP European Logistics joint venture which should allow VGP to recycle a substantial amount of invested equity which will be mainly redeployed to expand the development pipeline.
  • VGP took advantage of the attractive financial markets’ environment to issue an additional 8 year € 80 million bond to institutional investors allowing the Group to increase its debt maturity profile and at the same time lower its weighted average cost of debt.

Disclosure in accordance with the Law of 2 May 2007: Transparency law

27 Apr 2017

Transparency declaration by Mr Bart Van Malderen

VGP NV has received a transparency notification dated 26 April 2017 that Bart Van Malderen now holds, c.q. controls, by virtue of his appointment as managing partner of VGP MISV Comm. VA, 48.03% of the voting rights of the company. Therefore, the threshold of 45% was crossed.

The notification dated 26 April 2017 contains following information:

  • Reason for notification: 
    Acquisition or disposal of the control of an entity that holds a participating interest in the issuer.
  • Notification by:
    A parent undertaking or a controlling person.
  • Persons subject to the notification requirement:
    Bart Van Malderen; Spinnerijstraat 12, 9240 Zele.
    VM Invest NV, Spinnerijstraat 12, 9240 Zele
    VGP MISV Comm. VA, Spinnerijstraat 12, 9240 Zele.
  • Date on which the threshold is crossed:
    24 April 2017.
  • Threshold that is crossed:
    45%.
  • Denominator:
    18,583,050.

 

 ShareholderPrevious notificationsAfter the transaction

Numberof voting rights

numberof voting rights

% of voting rights

Bart Van Malderen 3,545,250 3,545,250 19.08%
VM Invest NV 4,451,668 4,451,668 23.96%
Comm. VA VGP MISV 929,153 929,153 5.00%
Total 8,926,071 8,926,071 48.03%
  • Chain of controlled undertakings through which the holding is effectively held, if applicable: VM Invest NV is controlled by Mr Bart Van Malderen. Mr Bart van Malderen as managing partner of VGP MISV Comm. VA has exclusive control over VGP MISV Comm. VA.

  • Additional information: VGP MISV Comm. VA holds 5% of the shares in VGP NV which relate to an incentive program for the management of VGP NV. MISV stands for Management Incentive Scheme Vehicle. By working with a “Partnership limited by shares (“Commanditaire vennootschap op aandelen”), the economic rights of the VGP shares (of which the VGP team members are the beneficiaries) have been disconnected from the control rights exercised by the manager partner. Mr. Bart Van Malderen is the only managing partner of the Comm. VA. In application of article 11 of the Companies Code, Mr Bart Van Malderen has therefore exclusive control over VGP MISV Comm. VA. Consequently, the 929,153 shares (5%) held by VGP MISV Comm. VA are to be added to the shares controlled by Bart Van Malderen.

Disclosure in accordance with the Law of May 2nd, 2007: Transparency law

05 Apr 2017

Transparency declaration by Mr Bart Van Malderen

VGP NV has received a transparency notification dated 4 April 2017 that Bart Van Malderen now holds, by virtue of the sale of 766,203 shares by VM Invest NV on 3 April 2017, 43.03% of the voting rights of the company. Therefore, the threshold of 45% was crossed.

The notification dated 4 April 2017 contains following information:

Reason for notification: Acquisition or disposal of voting securities or voting rights.

Notification by: A parent undertaking or a controlling person.

Persons subject to the notification requirement: Bart Van Malderen; VM Invest NV, Spinnerijstraat 12, 9240 Zele.

Date on which the threshold is crossed: 3 April 2017.

Threshold that is crossed: 45%.

Denominator: 18,583,050.

Notified details: 

 ShareholderPrevious notificationsAfter the transaction

Numberof voting rights

numberof voting rights

% of voting rights

Bart Van Malderen 3,545,250 3,545,250 19.08%
VM Invest NV 5,159,434 4,451,668 23.96%
Total 8,704,684 7,996,918 43.03%

Chain of controlled undertakings through which the holding is effectively held, if applicable: VM Invest NV is controlled by Mr Bart Van Malderen


Successful placement of 766,203 shares

30 Mar 2017

VGP NV (“VGP”) has been informed that a private placement of 766,203 shares, belonging to VM Invest NV, has been successfully completed.

The 766,203 shares were placed by KBC Securities NV, with a broad base of institutional investors at the price of 60.00 euro per share, which results in a discount of 12.4% compared to yesterday’s closing price, 29 March 2017.

Trading of the VGP share on Euronext Brussels has been suspended since this morning following this private placement and will be resumed as soon as possible after the publication of this press release


Intention for a private placement of VGP shares

30 Mar 2017

VGP NV (“VGP”) has been informed that a private placement of VGP shares belonging to VM Invest NV, will take place today. The shares will be placed with institutional investors by KBC Securities NV.

As a result, the trading in the VGP shares on Euronext Brussels will therefore be temporarily suspended today until the publication of the results of the private placement via a press release.