DGAP-Adhoc

Grand City Properties S.A. launches public tender offer for up to 12,500,000 shares

DGAP-Ad-hoc: Grand City Properties S.A. / Key word(s): Share Buyback/Real Estate Grand City Properties S.A. launches public tender offer for up to 12,500,000 shares 28-Jan-2021 / 08:57 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE AD-HOC RELEASE.

Disclosure of an inside information acc. to Art. 17 Sec. 1 of the Regulation (EU) No. 596/2014 (Market Abuse Regulation - MAR)

Grand City Properties S.A. launches public tender offer for up to 12,500,000 shares

Luxembourg, 28 January 2021 - The board of directors of Grand City Properties S.A. (the "Company") (ISIN LU0775917882 / WKN A1JXCV) resolved today to utilize the authorization of the annual general meeting of 24 June 2020 in order to buy back up to 12,500,000 shares of the Company (corresponding to up to 7.27% of the Company's share capital) by way of a public tender offer with a purchase price in the range of EUR 20.00 to EUR 21.25 per share (excluding ancillary acquisition costs). The final purchase price per share will be determined by the Company after the expiration of the acceptance period in accordance with the final terms of the offer document.

The final purchase price will be determined by the Company on the basis of tenders received from shareholders and will be equal to the lowest price within the given purchase price range at which the Company can, based on the tenders received, purchase such number of shares as to be determined by the Company in accordance with the terms of the offer. Shareholders may tender all or part of their shares in the Company by either specifying a price within the purchase price range or with no specified price, in which case they commit to sell their tendered shares at the final purchase price as determined by the Company. The final purchase price, which will be identical for all shares tendered into the offer, will be calculated in accordance with the terms of the offer document on the basis of the number of shares tendered and the tender prices set by shareholders. If and to the extent the shares tendered into the offer at a price equal to, or lower than, the final purchase price exceed the number of shares to be acquired by the Company under the offer, tenders will be accepted on a pro rata basis.