UPDATE 1-Prologis European Properties reviews capital plans

* Mulls offering of convertible units

* Postponed EGM on legal structure change

* Faces debt maturities of about 570 mln euros in 2010

(Adds detail, background)

AMSTERDAM, Sept 28 (Reuters) - Property group Prologis European Properties (PEPR) (PEPR.AS) said on Monday it was reviewing alternative capital raising plans, which could include the offering of convertible preferred units to existing unitholders.

The company has postponed an extraordinary shareholders meeting (EGM), which was to vote on a change in its legal structure. It said the conversion it was now considering would enable it to improve its financial flexibility as it allows the issue of equity below its net asset value (NAV) per unit.

"While the overwhelming majority of proxies (votes) received to date were in favour of the conversion, PEPR and its advisors have elected to postpone the EGM in order to better understand objections raised by a minority of unitholders through follow up discussions," Prologis said in a statement.

The company, whose assets are managed by U.S.-listed Prologis (PLD.N), said alternative capital-raising plans may include the offering of fully underwritten convertible preferred units to existing unitholders.

The size of the convertible may be about 200 million euros ($293.2 million) and could be executed in multiple tranches.

The company said earlier this month it had to address significant debt maturities of approximately 570 million euros in 2010. (Reporting by Harro ten Wolde; Editing by David Holmes) ($1=.6822 Euro) (harro.tenwolde@reuters.com; Reuters Messaging: harro.tenwolde.reuters.com@reuters.net; +31 20 504 5017))