Tecla fondo uffici disposal of the residual real estate portfolio

With reference to the disposal of the residual real estate portfolio of the "Tecla - Fondo Uffici" fund (the "Fund") and following the press release of 29 September 2017, Prelios SGR S.p.A. (the "Asset Management Company") announced earlier today that, since the parties entitled have not exercised their rights of pre-emption within the legal terms, the buildings located in Pozzuoli, Via Campi Flegrei 34 and Milan, Corso Garibaldi 99 were transferred to a real estate AIF managed by DeA Capital Real Estate SGR S.p.A. (formerly IDeA Fimit SGR SpA.).

At the same time as the transfer, a sum of €39,950,000 (net of VAT and ancillary charges) was paid to the Fund, in final settlement of the total price of €69,900,000 (net of VAT and ancillary charges) agreed for the overall sale and purchase transaction as finalized on 29 September last, without prejudice to the deposit of €350,000 held in an escrow account by the depositary of the Fund by way of security for certain commitments undertaken as part of the sale.

The sale transaction also involved the subscription of insurance policies in favour of the purchaser, with a view to hedging any risks related to the factual and legal situation of the properties, so as to allow an orderly and timely completion of the Fund's liquidation process and avoid any potential contingent liabilities for the latter.

The finalization of the transfer of the buildings in Pozzuoli and Milan brought to completion the process of disposal of the remaining real estate portfolio within the duration of the Fund (i.e. 31 December 2017).

The Asset Management Company is therefore proceeding to carry out the accounting operations for the final liquidation of the Fund in line with the time schedule established by the Fund's management regulations and in accordance with the guarantees given in favour of the buyers upon the sale of the residual real estate portfolio and already disclosed to the market over the last few months. The distribution to the beneficiaries of the final redemption will take place with value date not later than the thirtieth day from the end of the aforesaid accounting operations, which must be completed within sixty days from termination of the Fund.
The Asset Management Company declares that the units of the Fund will be de-listed from the MIV segment of Borsa Italiana S.p.A. (ISIN IT0003554349 - cod. QFTEC); in compliance with the instructions of Borsa Italiana S.p.A., the last day of trading of the Fund units will be 27 December 2017, with the relevant contracts to be signed on 29 December 2017.

The Asset Management Company will inform the market of any future developments in the process of liquidation of the Fund. All relevant information is available on the dedicated website: www.fondotecla.com.