Ad-hoc notice pursuant to Article 17 of the Market Abuse Directive
The Grounds Real Estate Development AG: a convertible bond of EUR 12 million was issued and considerably oversubscribed
Berlin, 16 February 2021 (09:55 CET/CEST) – Following the expiry of the scope of the subscription period (1 February to 15 February 2021) and subsequent private placement, The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) has received subscription applications for all of the 12,000 partial debentures with a total net value of EUR 12,000,000. The issue was substantially oversubscribed. Due to the oversubscription, major shareholders of the company withdrew to a considerable extent from their original subscription registrations so as to further expand the company’s investor base.
The fully-placed convertible bond with a volume of EUR 12,000,000.00 carries an annual interest rate of 6%, has a term of three years and is convertible at a price of EUR 3.20 per share. The convertible bond is scheduled for inclusion in the open market segment Quotation Board of Frankfurt Stock Exchange on 18 February 2021.
The net proceeds achieved are to be used mainly to finance the acquisition of new real estate properties in Germany, and for general corporate purposes.
