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26.06.2015 – 18:56

Kommunalkredit Austria AG

EANS-Adhoc: Kommunalkredit Austria AG
Partial sale of Kommunalkredit: Value of special rights

  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

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Kommunalkredit Austria AG (KA), referring to its ad-hoc disclosures dated
11/08/2014 and 13/03/2015 and based on the decisions taken by the Supervisory
Board today, 26/06/2015, notifies the following: 

The Supervisory Board of KA, at its meeting today, adopted the following
-  Demerger of the entire business operations of KA (incl. all its 
   subsidiaries) with parts of its assets and liabilities by way of a
   proportionate demerger into a newly incorporated company (KA New); 
-  Merger of the part of KA remaining after the demerger (KA Residual) into 
   KA Finanz AG (KF);
-  Compensation for the rights of holders of special rights under 
   section 15 (5) Austrian Demerger Act (Spaltungsgesetz, SpaltG) as follows:

ISIN Special right   Instrument      Nominal in EUR        Compensation
                                                           in % of nominal
XS0495993668    Supplementary capital     2,417,000             55%
XS0495988072    Supplementary capital     6,042,500             45%
XS0493857576    Participation capital    90,033,250             25%
-               Participation capital    12,085,000             25%
-               Participation capital    36,255,000             25%

The participation capital in a nominal value of EUR 12,085,000 and EUR
36,255,000 is securitised by participation capital certificates issued by Banque
de Luxembourg, a Luxembourg bank, with the ISINs XS0285503248 and XS0252707624,
which are quoted on the Luxembourg stock exchange. With respect to the
participation capital in a nominal value of EUR 12,085,000 and EUR 36,255,000,
Banque de Luxembourg acts as trustee of the holders for the participation
capital certificates thus represented pursuant to the Luxembourg Law of
27/07/2003 on trusts and fiduciary contracts.

The implementation of the demerger and the merger, as described above, is
subject to a number of conditions precedent and approvals to be granted by the
General Meetings of KA and KF and by the competent bank regulators, the European
Commission and other authorities.

AT0000329859; XS0104786263; XS0163624504; XS0180539420; XS0186736228;
XS0187975262; XS0205974701; XS0210167218; XS0213230047; XS0214564972;
XS0214981812; XS0215839019; XS0215865287; XS0218474533; XS0219327524;
XS0235597068; XS0236776877; XS0241451581; XS0252593198; XS0252707624;
XS0252786669; XS0253410236; XS0255439803; XS0261832942; XS0267998481;
XS0270872640; XS0271821513; XS0285503248; XS0299062389; XS0302365134;
XS0340901908; XS0495988072; XS0592235187; XS0973424152; XS1003354252;
XS1016032457; XS1017111029; XS1020014608; XS1033673440; XS1040273267;
XS1045121784; XS1045221063; XS1046170699; XS1072804484; CH0020669583;
CH0022280058; CH0024015452; CH0025662831

Stock exchanges: 
Vienna, Luxembourg, Zurich
For further information, please contact:
Kommunalkredit Austria AG
Investor Relations
Dinah Reiss
1092 Wien/Vienna, Türkenstraße/Tuerkenstrasse 9
Tel./Phone: +43/1/31 6 31-678
Fax: +43/1/31 6 31-505 oder/or 99678

Issuer: Kommunalkredit Austria AG
Türkenstraße 9
A-1092 Wien
Telefon: +43/1/31 6 31
Fax: +43/1/31 6 31-105

Sector: Banks
Stock exchanges: Vienna Stock Exchange, Luxembourg Stock Exchange, Swiss Stock
Language: English

Further inquiry note:
Kommunalkredit Austria AG
Dinah Reiss
Investor Relations
1092 Wien, Türkenstraße 9
Tel.: +43 (0) 1/31 6 31-678, Fax: -99678

end of announcement                               euro adhoc 

issuer:      Kommunalkredit Austria AG
             Türkenstraße  9
             A-1092 Wien
phone:       +43 1 31 6 31
FAX:         +43 1 31 6 31 105
sector:      Banking
ISIN:        -
stockmarkets: stock market: Luxembourg Stock Exchange, Wien, SIX Swiss Exchange 
language:   English

Original content of: Kommunalkredit Austria AG, transmitted by news aktuell