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DGAP-Ad-hoc: The Grounds Real Estate Development AG / Key word(s): Corporate Action
Berlin, 26 January 2021 - The Grounds Real Estate Development AG has resolved to issue a convertible bond with subscription rights for shareholders. Commitments by major investors amounting to EUR 5,000,000 are already available to the company, and the total volume amounts to up to EUR 12,000,000. Existing shareholders have submitted declarations stating that they do not wish to exercise subscription rights, so that the subscription offer still relates to a volume of EUR 4,529,000 and will be carried out without a prospectus with a basic information sheet. The annual interest rate is 6 percent. The convertible bond will have a term of three years. The conversion price is EUR 3.20 per share. The company will publish a basic information sheet ("BIS") for the convertible bond issue on the company's homepage at https://www.thegroundsag.com/. The subscription period scope is expected to run from 1 February 2021 to 15 February 2021. It is expected that the subscription offer will be published in the Federal Gazette on 29 January 2021.
The company intends to use the net issue proceeds from the issue of the convertible bond mainly to finance the acquisition of new real estate properties in Germany and for general corporate purposes. Important note This announcement is not intended for direct or indirect publication or dissemination within and/or into the United States of America ("United States"). This announcement does not represent an offer for the sale of securities in the United States. The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933 in the currently valid version ("Securities Act"), and their sale or offer for sale is permissible in the United States only through the use of a derogation from the registration requirements of the Securities Act. No public offer of securities takes place in the United States. Contact: The Grounds Real Estate Development AG Arndt Krienen/Jacopo Mingazzini, members of the Management Board Charlottenstrasse 79-80, 10117 Berlin, Germany Tel.: +49 (0) 30 2021 6866 Fax: +49 (0) 30 2021 6849 E-mail: info@thegroundsag.com Web: www.thegroundsag.com End of the ad hoc announcement
26-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | The Grounds Real Estate Development AG |
| Charlottenstraße 79-80 | |
| 10117 Berlin | |
| Germany | |
| Phone: | 030 2021 6866 |
| Fax: | 030 2021 6489 |
| E-mail: | info@thegroundsag.com |
| Internet: | www.thegroundsag.com |
| ISIN: | DE000A2GSVV5 |
| WKN: | A2GSVV |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Tradegate Exchange |
| EQS News ID: | 1163508 |
| End of Announcement | DGAP News Service |
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1163508 26-Jan-2021 CET/CEST
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