Ad-hoc notice pursuant to Article 17 of the Market Abuse Directive
The Grounds Real Estate Development AG: Increase of convertible bond 2021/2024 (ISIN: DE000A3H3FH2) by EUR 4.8 million considerably oversubscribed
Berlin, 4 October 2021 – The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) has received subscription applications for all of the 4,800 partial debentures with a total nominal value of EUR 4,800,000.00 in the course of the private placement under exclusion of the shareholders’ subscription rights. The issue was considerably oversubscribed.
The fully-placed partial debentures from the increase of the convertible bond 2021/2024 with a total volume of EUR 4,800,000.00 are scheduled for inclusion in the open market segment Quotation Board of Frankfurt Stock Exchange with immediate effect.
The net proceeds achieved 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.