Ad-hoc notice pursuant to Article 17 of the Market Abuse Directive
The Grounds Real Estate Development AG sells commercial property in Grünheide (Mark) and doubles 2020 earnings forecast
Berlin, 10.12.2020 (13:15 CET/CEST) The Grounds Real Estate Development AG (The Grounds) concluded today a contract for the sale of a commercial property from fixed assets, which will already be recognised in the current year’s income statement. Therefore, the results forecast of EUR 2 million for the year 2020 is now again increased to EUR 4 million after taxes. The contract provides for a basic purchase price, due for payment immediately and significantly above the current book value, and a possible additional purchase price payment amounting to up to EUR 9.75 million after successful completion of a development planning process. The intention is to use the liquidity from the transaction to accelerate growth.