The Grounds gains Armin H. Hofmann as an additional strategic major shareholder and future Supervisory Board member
- Armin H. Hofmann acquires a shareholding of around 17% in The Grounds
- Deutsche Balaton Group reduces its participation, and in future will hold around 16% of the shares in The Grounds
- Change in the Supervisory Board with effect as of the end of 2020
Berlin, 20 November 2020 – The Grounds Real Estate Development AG (The Grounds/ ISIN: DE000A2GSVV5) has gained a new strategic major shareholder: Armin H. Hofmann. Working as a jurist and entrepreneur in Frankfurt, Berlin and Paris, he will in future hold around 17% of the company’s shares. The Deutsche Balaton Group is simultaneously reducing its shareholding in The Grounds by the same volume, and will in future also hold around 16% of the company’s shares.
With his company group, Mr Hofmann has decades of experience in real estate property investment and in various other sectors such as medical technology, software and the Internet. Moreover, he has been a member of various supervisory boards in the USA and Germany in recent years.
Arndt Krienen, a board member of The Grounds Real Estate Development AG, says: “We are delighted that we have another investor on board, Armin H. Hofmann. He has confidence in our company’s strategy, and wants to accompany its growth as a shareholder in the years ahead. In addition to the new composition of the Executive Board, the successful non-cash capital increase, and our company’s strategic focus on the portfolio holding and project development segments, our shareholder base is an important element of The Grounds in the current year, and has been further strengthened by Mr Hofmann’s participation .”
Simultaneously, there will be a change in the Supervisory Board with effect as of the end of the calendar year. Prof. Dr. Winfried Schwatlo has relinquished his mandate as of 31 December 2020. Armin H. Hofmann is to be appointed as a member of the Supervisory Board as Prof. Schwatlo’s successor through judicial appointment, initially until the end of the next Ordinary General Meeting.
Commenting on this, Eric Mozanowski, Deputy Supervisory Board Chairman, says: “We are delighted to have been able to gain Mr Hofmann as an investor with whom we can further develop The Grounds. The Supervisory Board thanks Prof. Dr. Winfried Schwatlo for his collaboration, which has been trustful and competent at all times.”
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Board Members
Charlottenstrasse 79-80, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
About The Grounds
The Grounds Group realises housing projects in German metropolitan regions. In addition, The Grounds Group holds a steadily growing residential portfolio as fixed assets. The Grounds Real Estate Development AG is listed in the Düsseldorf Stock Exchange’s OTC segment Primärmarkt (ISIN: DE000A2GSVV5), has its seat in Berlin and an office in Stuttgart.