Birmingham-based Red Rock Wealth Management Ltd. buys 70.2% of the shares in The Grounds Real Estate Development AG, management board changes are planned

Ad-hoc Announcement Pursuant to Art. 17 Market Abuse Regulation

Berlin, 12 July 2018 (11:49 CET) - Red Rock Wealth Management Ltd. based in Birmingham has bought 70.2% of the shares in The Grounds Real Estate Development AG (ISIN: DE000A2GSVV5) from the three main shareholders. Material transfer is still pending subject to the condition precedent of payment of a further purchase price tranche planned for August 2018.

The vendors also include the RESI Beteiligungs GmbH and ZuHause Immobilien Handelsgesellschaft companies, which are related to Management Board members Hans Wittmann and Eric Mozanowski. The plan is for Mr. Wittmann and Mr. Mozanowski to step down from the Management Board, and for a new Management Board to be appointed. However, the previous Management Board members will remain connected with The Grounds Group for a transitional period as Managing Directors of various large project companies.

The Grounds Real Estate Development AG
The Management Board


Contact:
The Grounds Real Estate Development AG
Hans Wittmann
Management Board
Leipziger Platz 3, 10117  Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
E-Mail: info@thegroundsag.com
Web: www.thegroundsag.com

 

End of ad hoc announcement

UBJ. GmbH
Ingo Janssen
Managing Director
Haus der Wirtschaft, Kapstadtring 10
22297 Hamburg
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
E-Mai: ir@ubj.de
Web: www.ubj.de


Corporate information

Acquisition, project development and sustainable residential property management

The Grounds Group focuses on buying and developing residential property and, as a full-service provider for the business areas Investment (including property and asset management), Development and Trading, they have made it their goal to provide affordable living space for different life stages. The emphasis is on residential property, particularly also special real estate such as student and retirement living in German metropolitan regions and attractive locations such as aspiring outskirts in Germany. As a portfolio holder their medium-term aim is to establish a significant high quality real estate portfolio at a magnitude of EUR 500 million through investments and in-house development, allowing stable profits together with attractive dividend payments to The Grounds shareholders. The Grounds seeks to position themselves as one of the leading German real estate companies by creating added value within the scope of housing development and subsequent development of market capitalisation.

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