Atrium European Real Estate Limited
EANS-Adhoc: Atrium European Real Estate Limited
OFFER TO RESOLVE LEGAL DISPUTES
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- other 19.01.2016 OFFER TO RESOLVE LEGAL DISPUTES Jersey, 19 January 2016. Atrium European Real Estate Limited (the "Company") (VSE/Euronext: ATRS), a leading owner, operator and developer of shopping centres and retail real estate in Central and Eastern Europe and the ultimate parent of the Atrium Group, announces the resolution of the Dutch litigation brought by "Stichting Atrium Claim" and the establishment of an arrangement to create a compensation fund through which to resolve disputes currently being litigated in Austria in the civil courts as well as submissions by individuals to join pending criminal proceedings. The arrangement involves Meinl Bank AG and attorneys from the Stichting (including one who represents certain current Austrian plaintiffs). Stichting asserts that it represents the interests of present and former investors in the Company who purchased certificates between 2002 and 2007, when the Company was known as Meinl European Land Limited, predating all current officers and directors. The arrangement offers the opportunity for qualifying investors to recover from a compensation fund. Although the Company continues to believe that there is no basis for any claims to be made against it in the Austrian civil proceedings, those proceedings generally assert damages on behalf of investors tied to purported misstatements and omissions in public statements of Meinl European Land. The Company has joined as a participant in the arrangement as a means to put legacy issues behind it, providing an opportunity for all those litigating and who have made submissions to join the criminal proceeding to achieve a comprehensive resolution, and in so doing address a source of significant demands on management time and associated legal fees and costs, which are detrimental to its shareholders. Under the arrangement announced today, qualifying investors may obtain compensation in accordance with a standard methodology explained in full on the Stichting's websitewww.atriumclaim.comwhich takes into account factors such as dividends received, current holdings, timing of investment and total amounts invested. The Company encourages all eligible investors to review carefully the information made available through this website, to seek advice from a suitably qualified adviser and then make their own decisions about whether to join the arrangement. Those who choose to obtain compensation through the arrangement announced today will receive a payment calculated using the methodology set forth in the arrangement. To participate, eligible investors will need to complete an on-line form and release, and submit certain information related to their claims. While it is not clear at this time how many investors will make an offer to participate in the arrangement, the Company believes it is important to support reasonable efforts to help bring final resolution to these longstanding issues. Although the Company's maximum exposure under the arrangement (including costs) is approximately EUR 32 million, the actual amount will be determined over time and will depend on the number of investors who participate. The Company is hopeful that eligible investors will participate in this process. For those who choose to push forward with litigation against the Company tied to these legacy issues, the Company emphasizes its belief that there is no basis for the claims against it and that it will continue to defend itself vigorously in all proceedings. For further information: FTI Consulting Inc.: +44 (0)20 3727 1000 Richard Sunderland / Claire Turvey atrium@fticonsulting.com Further inquiry note: For further information: FTI Consulting Inc.: +44 (0)20 3727 1000 Richard Sunderland Claire Turvey Richard.sunderland@fticonsulting.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Atrium European Real Estate Limited Seaton Place 11-15 UK-JE4 0QH St Helier Jersey / Channel Islands phone: +44 (0)20 7831 3113 mail: richard.sunderland@fticonsulting.com WWW: http://www.aere.com sector: Real Estate ISIN: JE00B3DCF752 indexes: Standard Market Continuous stockmarkets: official market: Wien, stock market: Luxembourg Stock Exchange language: English