Ad-hoc notice pursuant to Article 17 of the Market Abuse Directive
The Grounds Real Estate Development AG increases the convertible bond 2021/2024 (ISIN: DE000A3H3FH2) by up to EUR 4.8 million to up to EUR 16.8 million
Berlin, 29 September 2021 (17:50 CET/CEST) – The Grounds Real Estate Development AG has resolved to increase the convertible bond 2021/2024 (ISIN: DE000A3H3FH2) by up to EUR 4.8 million to up to EUR 16.8 million. The Company has already received significant commitments from major investors. The subscription rights of existing shareholders are excluded. The issue amount will be 100% of the nominal amount (plus accrued interest). The convertible bond 2021/2024 was issued in February 2021 with a term of three years, an annual interest rate of 6 percent and a conversion price of EUR 3.20 per share.
The funds are intended to be used for the further development of the three core business activities by expanding the portfolio holding, further building up the residential real estate portfolio for privatization and investing in project developments.
