Non-cash capital increase is entered in the Commercial Register: share capital increases from EUR 400 thousand to EUR 12,900 thousand
- The Grounds Real Estate AG 94.5 % operating subsidiary
- Registered office relocated from Munich to Berlin
- Technical details for conversion of bearer shares to registered shares
Berlin, 23 October 2017. The Grounds Real Estate Development AG (ISIN DE000A0STSH7) can now report the successful entry of the recent resolutions adopted at the Ordinary Annual General Meeting on 22 June 2017: the investment in kind of 94.5 % of the shares of The Grounds Real Estate AG increased the company’s share capital by EUR 12,500 thousand from EUR 400 thousand to EUR 12,900 thousand. This has now created The Grounds Group, which operates in the real estate industry and within which The Grounds Real Estate Development AG functions as a holding company. Acquisition of the subsidiary through retroactive consolidation as of 1 January 2017 will be reflected for the first time in the closing figures for the current financial year to 31 December.
Relocation of the registered office to Berlin was also registered. The company moved into its new business premises on Leipziger Platz only recently.
Transfer of the existing bearer shares into registered shares is scheduled to take place after close of the market on Friday 27 October 2017. The first trading day for the registered shares under the new ISIN DE000A2GSVV5 that will then be valid is scheduled for 30 October 2017. Shareholders of The Grounds Real Estate Development AG will not incur any costs in the context of the automatic rebooking of the shareholdings by the custodian banks. More information about the conversion to registered shares can be found on the company’s home page at http://www.thegroundsag.com/en/share.html.