Madrid, 28 January 2020

Zaragoza Properties SOCIMI, S.A. (the "Company" or "Zaragoza Properties") publicly announces the following in accordance with Article 17 of Regulation (EU) No 596/2014 on market abuse, Article 228 of the Spanish Securities Market Act (Ley del Mercado de Valores), as recast by Legislative Royal Decree 4/2015 of 23 October 2015, and related provisions, as well as Spanish alternative investment market (Mercado Alternativo Bursátil, "MAB") Circular 6/2018.

Important Notice

Further to the important notice published on 23 December 2019, the Company has been informed by its majority shareholder, the Luxembourg company Intu Zaragoza Holding, S.à r.l., that the latter has purchased 79,909 shares in the Company, representing 1.58% of the share capital, held by the Company's minority shareholders (the "Transaction"). As a result of the Transaction, the Company has become a wholly-owned company (sociedad unipersonal) whose sole shareholder is the Luxembourg company Intu Zaragoza Holding S.à r.l. (the "Sole Shareholder").

Additionally, the Company has been informed by the Sole Shareholder that today the latter has adopted the following decisions:

1. Apply for the delisting of all the shares in the Company from trading on the MAB

As already mentioned in the important notice published on 23 December 2019, the Sole Shareholder entered into a private sale and purchase agreement on 20 December 2019 relating to the 5,060,000 shares representing the Company's entire share capital, with Generali Shopping Centre Fund S.C.S. SICAV-SIF and Union Investment Real Estate GmbH. Closing of such private sale and purchase agreement is subject to the fulfilment of certain conditions precedent, including the Company being delisted from trading on the MAB.

Due to the reasons explained above, the Sole Shareholder decided to apply for the delisting of all the shares in the Company from trading on the MAB.

2. Election not to maintain the SOCIMI tax regime

The Sole Shareholder decided that the Company will no longer apply the SOCIMI tax regime set out in Law 11/2009, of 26 October, on SOCIMIs (Ley 11/2009, de 26 de octubre, por la que se regulan las Sociedades Anónimas Cotizadas de Inversión en el Mercado Inmobiliario).

3. Amend article 1 of the Company's bylaws

In relation to the election not to maintain the SOCIMI tax regime in 2 above, the Sole Shareholder decided to amend the Company's name. Hereinafter, article 1 of the Company's bylaws shall read as follows:

"Article 1. - Name. The Company will be called "Zaragoza Properties, S.A." and will be governed by these articles of association and other applicable legal provisions."

We remain at your disposal for any clarification needed.

Mr Martin Richard Breeden

Chairman of the board of directors of the Company

ZARAGOZA PROPERTIES SOCIMI, S.A.

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Zaragoza Properties SOCIMI SA published this content on 28 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2020 20:39:06 UTC