The good, the bad and the ugly

In a recent paper, signed by Joseph Harvey, President and CIO of Cohen and Steers (disclaimer, Cohen and Steers is as far as I know one of our shareholder), the investment manager argues about the merits of allowing European REIT to execute capital increase excluding subscription rights. (The document can be read at the following address http://bit.ly/flBlrP)

Having executed a recent capital increase for alstria with the exclusion of subscription rights, I wanted to share my thought on the matter, and explain how we have looked at the issue from a company perspective.