DGAP-News: Grand City Properties S.A., : 99.7% of the Convertible Bonds 2012-2017 converted and additional latest acquisitions
(firmenpresse) - DGAP-News: Grand City Properties S.A., / Key word(s): Bond
Grand City Properties S.A., : 99.7% of the Convertible Bonds 2012-2017
converted and additional latest acquisitions
13.10.2013 / 23:07
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GRAND CITY PROPERTIES S.A.: 99.7% of the Convertible Bonds 2012-2017
converted and additional latest acquisitions
Luxembourg, 13 October 2013 - Grand City Properties S.A. (the 'Company')
announces that it has now received additional conversion notices in
respect of the Convertible Bonds (Series A, XS0839410221, WKN A1HBF8) (the
'Convertible Bonds') representing EUR9.1million in respect of the
Convertible Bonds. Consequently, a total of EUR99.7million 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 equity share of the Company has increased by EUR9.1million, resulting
in a decrease of debt in the same amount, which aggregates to a total
amount of EUR99.7 million of all conversions. Due to the recent conversions
of Convertible Bonds, 2,275,000 new shares were issued by the Company,
accumulating to 24,925,000 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 88,425,000.
As at today's date, EUR300,000 of the Convertible Bonds remain outstanding
and will be redeemed on October 18th
After the full redemption of the remaining Convertible Bonds on October
18th, all obligations of the Company in respect of the Convertible Bonds
will be fully cancelled.
In addition and as a result of the latest acquisitions the Company's
portfolio reached approx. 22,000 units representing annualised (12 *
October 2013) gross rental income of approx. EUR150 million, including
signed deals.
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 22,000 units
including signed deals. In the first half year of 2013, Grand City posted a
net profit of EUR58m (EUR36.7m at the end of June 30, 2012 and EUR93m 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 an invitation 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
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13.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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234372 13.10.2013
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99-7-of-the-convertible-bonds-2012
2017-converted-and-additional-latest-acquisitions
Unternehmensinformation / Kurzprofil:
Datum: 13.10.2013 - 23:07 Uhr
Sprache: Deutsch
News-ID 305294
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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