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CPI PROPERTY GROUP - steady growth, improved operations, successful acquisitions and refinancing.
DGAP-News: CPI PROPERTY GROUP / Key word(s): Half Year Results
CPI PROPERTY GROUP - steady growth, improved operations, successful
acquisitions and refinancing.
28.08.2015 / 08:01
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CPI PROPERTY GROUP - steady growth, improved operations, successful
acquisitions and refinancing.
Corporate highlights
Annual General Meeting of 28 May 2015
* The Annual General Meeting of the shareholders of the CPI PROPERTY GROUP
(the "Company" and together with its subsidiaries the "Group") was held on
28 May 2015 (the "Meeting") and approved the Company's audited consolidated
and statutory annual accounts for the financial year ending 31 December
2014. The Meeting also approved the allocation of the Company's 2014
financial results. The Meeting decided to renew the mandate of the current
Board of Directors until the Annual General Meeting for 2016 concerning
approval of the annual accounts for the Company for the financial year
ending 31 December 2015. Accordingly, the current Board of Directors of
the Company comprises of the following members: Mr. Martin Nemecek, Mr.
Edward Hughes, Mr. Radovan Vitek, Mr. Tomas Salajka, Mr. Philippe
Magistretti and Mr. Oliver Schlink. The Meeting also appointed Mr. Martin
Nemecek as the Managing Director of the Company.
Investments and portfolio news
The Group pursued new investments in line with its expansion strategy and
was successful in obtaining project financing for new projects as well as
existing ones under improved terms. The Group plans to grow further through
purchases in Central and Eastern Europe as well as in Western Europe. The
acquisitions shall be financed through existing cash in the Group as well
as new funds where the market currently offers favourable conditions.
GSG Berlin continues its expansion
* In May 2015 the Company's German subsidiary Gewerbesiedlungs-Gesellschaft
("GSG Berlin") acquired the industrial complex Ullsteinstraße 73 in
Berlin-Tempelhof for EUR 6.9 Million. Originally, it was a factory for
electronic devices built by Philips between 1955 and 1956. The industrial
complex is close to Tempelhofer Hafen (Tempelhof Harbour) and the subway
station Ullsteinstraße; an emerging region that has performed very well in
recent years. It offers architecturally impressive factory buildings with
attached commercial buildings. The highlight of the area is a shed hall
with a ceiling height of up to 10 meters. The five buildings offer a total
CPI PROPERTY GROUP - steady growth, improved operations, successful
acquisitions and refinancing.
Corporate highlights
Annual General Meeting of 28 May 2015
* The Annual General Meeting of the shareholders of the CPI PROPERTY GROUP
(the "Company" and together with its subsidiaries the "Group") was held on
28 May 2015 (the "Meeting") and approved the Company's audited consolidated
and statutory annual accounts for the financial year ending 31 December
2014. The Meeting also approved the allocation of the Company's 2014
financial results. The Meeting decided to renew the mandate of the current
Board of Directors until the Annual General Meeting for 2016 concerning
approval of the annual accounts for the Company for the financial year
ending 31 December 2015. Accordingly, the current Board of Directors of
the Company comprises of the following members: Mr. Martin Nemecek, Mr.
Edward Hughes, Mr. Radovan Vitek, Mr. Tomas Salajka, Mr. Philippe
Magistretti and Mr. Oliver Schlink. The Meeting also appointed Mr. Martin
Nemecek as the Managing Director of the Company.
Investments and portfolio news
The Group pursued new investments in line with its expansion strategy and
was successful in obtaining project financing for new projects as well as
existing ones under improved terms. The Group plans to grow further through
purchases in Central and Eastern Europe as well as in Western Europe. The
acquisitions shall be financed through existing cash in the Group as well
as new funds where the market currently offers favourable conditions.
GSG Berlin continues its expansion
* In May 2015 the Company's German subsidiary Gewerbesiedlungs-Gesellschaft
("GSG Berlin") acquired the industrial complex Ullsteinstraße 73 in
Berlin-Tempelhof for EUR 6.9 Million. Originally, it was a factory for
electronic devices built by Philips between 1955 and 1956. The industrial
complex is close to Tempelhofer Hafen (Tempelhof Harbour) and the subway
station Ullsteinstraße; an emerging region that has performed very well in
recent years. It offers architecturally impressive factory buildings with
attached commercial buildings. The highlight of the area is a shed hall
with a ceiling height of up to 10 meters. The five buildings offer a total
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