Appeals Lodged against the Merger of Silic into Icade

  Appeals Lodged against the Merger of Silic into Icade

Business Wire

PARIS -- December 10, 2013

Regulatory News:

Icade (Paris:ICAD):

On 6 December 2013, SMA Vie BTP lodged an appeal to the Paris Court of Appeal
to overturn the decision of the French Autorité des Marchés Financiers
published on 28 November 2013 declaring that Icade is not required to file a
buyout offer in respect of the Silic shares as a consequence of the proposed
merger of Silic into Icade, the terms and conditions of which were subject to
its review pursuant to article 236-6 of the AMF General Regulation (see Notice
of the AMF, No. 213C1819).

SMA Vie BTP also initiated summary proceedings on 6 December 2013 before the
President of the Commercial Court of Nanterre in order to postpone the
extraordinary shareholders’ general meeting of Silic convened on 27 December
2013 in order to vote on the merger of Silic into Icade. According to SMA Vie
BTP, the shareholders’ general meeting of Silic should be postponed after the
ruling of the Paris Court of Appeal on the appeal lodged against the decision
of the Autorité des marchés financiers.

Icade and Silic intend to oppose this request for an adjournment of Silic
shareholders’ general meeting.

About Icade
A listed real estate investment company and subsidiary of the Caisse des
Dépôts, Icade is a major player in Greater Paris and regional development
capable of providing comprehensive, sustainable and innovative solutions that
are tailored to customer needs and the challenges of tomorrow’s cities. In
2012, Icade posted a consolidated turnover of €1,499.3 million and had net
current cash flow of €251.4 million. At June 30, 2013, its EPRA triple net
asset was €4,079.5 million or €78.9 per share.
The text of this press release is available on Icade’s website:

About Silic
Founded nearly 40 years ago and owner of a property portfolio comprising more
than 1,224,000 m² of office space and mixed-use buildings in the Paris Region,
Silic is one of France's largest corporate real estate firms.
The text of this press release is available on Silic’s website:


Nathalie Palladitcheff, +33 (0)1 41 57 72 60
Member of the Executive Board, in charge of finance, legal matters and IT and
of the property services division
Julien Goubault, +33 (0)1 41 57 71 50
Deputy Chief Financial Officer, in charge of financing, corporate and investor
Bruno Meyer, + 33 (0)1 41 45 79 65
Deputy managing director
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