DGAP-News: GRAND CITY PROPERTIES S.A.: Share of 90.6% of the Convertible Bonds 2012-2017 converted
(firmenpresse) - DGAP-News: Grand City Properties S.A., / Key word(s): Bond
GRAND CITY PROPERTIES S.A.: Share of 90.6% of the Convertible Bonds
2012-2017 converted
03.09.2013 / 17:03
---------------------------------------------------------------------
GRAND CITY PROPERTIES S.A.: Share of 90.6% of the Convertible Bonds
2012-2017 converted
Company Redemption of outstanding Convertible Bonds
Luxembourg / Berlin, 3 September 2013 - Grand City Properties S.A. (the
'Company') announces that it has now received further conversion notices in
respect of Convertible Bonds (Series A, XS0839410221, WKN A1HBF8) (the
'Convertible Bonds') representing EUR 9.9 million in respect of the
Convertible Bonds. Consequently, a total of EUR 90.6 million in principal
value of the Convertible Bonds have been converted into equity share
capital in the Company.
As a result of the recent conversions in respect of the Convertible Bonds,
the issued equity share capital of the Company has increased by EUR 9.9
million, resulting in a decrease of debt in the same amount, which
aggregates to a total amount of EUR 90.6 million of all conversions. Due to
the recent conversions of Convertible Bonds, 2,475,000 new shares were
issued by the Company, accumulating to 22,650,000 of new shares as a result
of such conversions. The Company's total number of issued shares as at the
date of this announcement equals 86,150,000.
As at today's date, EUR 9,400,000 of the Convertible Bonds remain
outstanding.
In accordance with the terms and conditions of the Convertible Bonds, the
Company has resolved to exercise its right to redeem the outstanding
Convertible Bonds and a formal notice to this effect was sent today to
holders of the Convertible Bonds. Following the service of such notice,
holders of the Convertible Bonds can now decide to either (i) exercise
their conversion rights in respect of the Convertible Bonds by no later
than 11 October 2013 or (ii) elect to take no action in respect of their
conversion rights, which will result in their holding of Convertible Bonds
being redeemed on the optional redemption date, being 18 October 2013.
After the full redemption or conversion of the remaining Convertible Bonds,
all obligations of the Company in respect of the Convertible Bonds will be
fully cancelled.
About Grand City Properties
Grand City Properties (ISIN: LU0775917882) focuses on investing in
residential property in Germany, especially in large urban high-density
areas. The Company follows primarily a buy and hold strategy. Efficient
management tools enable sustainable and targeted improvement of the real
estate. The company's portfolio comprises approximately 18,000 units with
lettable space in excess of 1.3m sqm, including recent acquisitions. In the
first half year of 2013, Grand City posted a net profit of EUR 58m (EUR
6.7m at the end of June 30, 2012 and EUR 93m for the full year 2012). Since
May 2012, Grand City Properties is listed on the Frankfurt Stock Exchange
in the stock market segment Entry Standard. Further information:
www.grandcityproperties.com.
Press Contact:
Dariusch Manssuri
IR.on AG
T: +49 (0) 221 9140 975
E: dariusch.manssuri(at)ir-on.com
Contact:
Kathrin Behlau
Grand City Properties S.A.
T: +49 (30) 887088183
E: anleihe(at)grandcityproperties.com
www.grandcityproperties.com
Disclaimer
This press release does not constitute an offer to sell or aninvitation to
make a bid for the purchase or subscription of bonds of Grand City
Properties S.A. The offer of bonds of Grand City Properties S.A. must be
made exclusively on the basis of the securities prospectus approved by the
Luxembourg Financial Supervisory Authority (CSSF), which has been published
at www.grandcityproperties.com/bond. This press release does not constitute
an offer to sell securities in the United States of America, Canada,
Australia, Japan or other jurisdictions in which an offer is subject to
statutory restrictions. The securities mentioned in this press release may
not be offered or sold in the United States or to US persons (as defined in
Regulation S under the Securities Act of 1933 as amended from time to time
(the 'Securities Act')) unless they have previously been registered or, if
they have not previously been registered, only based on an exceptional
regulation. Subject to certain exceptions pursuant to the Securities Act,
the securities mentioned in this press release may not be offered or sold
in Australia, Canada or Japan or to, or for the account of, Australian,
Canadian or Japanese residents. The offer or the sale of the securities
mentioned in this press release will not be registered in Canada, Australia
and Japan in accordance with the respective legal provisions in these
countries. It is not intended to make a public offer of securities in the
United States.
End of Corporate News
---------------------------------------------------------------------
03.09.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
228875 03.09.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 03.09.2013 - 17:03 Uhr
Sprache: Deutsch
News-ID 293022
Anzahl Zeichen: 6674
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 267 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: GRAND CITY PROPERTIES S.A.: Share of 90.6% of the Convertible Bonds 2012-2017 converted"
steht unter der journalistisch-redaktionellen Verantwortung von
Grand City Properties S.A., (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
