Ad-hoc notification in accordance with Article 17 of the Market Abuse Regulation
NOT FOR FULL OR PARTIAL DISTRIBUTION, PUBLICATION OR DISCLOSURE IN, WITHIN OR FROM COUNTRIES IN WHICH SUCH DISTRIBUTION, PUBLICATION OR DISCLOSURE WOULD CONSTITUTE VIOLATION OF THE RELEVANT LEGAL PROVISIONS OF THESE COUNTRIES. IN PARTICULAR, NOT FOR DISCLOSURE, FOR PUBLICATION OR FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA, IN AUSTRALIA, IN CANADA OR IN JAPAN. THIS NOTIFICATION IS NOT AN OFFER TO PURCHASE SECURITIES OR AN INVITATION TO SUBMIT A PURCHASE OFFER. THE RELEVANT SECURITIES PROSPECTUS IS PUBLISHED AT http://www.thegroundsag.com/en/ UNDER THE HEADING “INVESTOR RELATIONS”.
The Grounds Real Estate Development AG: Closing Phase 1 of the private placement in Germany
Berlin, 14th December 2017. After the end of the time limit for subscription on 23rd November 2017 and the subscriptions by shareholders of The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) for a total of 534,269 new shares, the subsequent first tranche of the placement of new shares in the context of a private placement has now also been completed today.
After the conclusion of the private placement in Germany, a total of 43.3%, i.e. 2,205,517 new shares out of the total of 5,100,000 new shares, have now been subscribed at a price of EUR 2.20 per share, yielding gross issuing proceeds of EUR 4,852,137.40. The remainder, up to 2,894,483 new shares, are now scheduled to be offered in particular to institutional investors in South Africa following the end of the local summer holidays after mid-January 2018.
The shares of The Grounds Real Estate Development AG hitherto traded on the primary market of the Düsseldorf Stock Exchange, various other open markets and XETRA are to be made accessible to investors in South Africa via a dual listing through the planned inclusion in the AltX segment of the Johannesburg Stock Exchange (JSE).
After complete placement, the company’s share capital would increase by EUR 5,100,000.00 from the current EUR 12,900,000.00 to a total of EUR 18,000,000.00. The Grounds Real Estate Development AG plans to use the issue proceeds for further corporate growth.
The Grounds Real Estate Development AG
Leipziger Platz 3, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849