EQS-News

Branicks Group AG: Clear strategy for sustainable stability of the company

EQS-News: Branicks Group AG / Key word(s): Restructure of Company/Agreement Branicks Group AG: Clear strategy for sustainable stability of the company 26.03.2024 / 16:26 CET/CEST The issuer is solely responsible for the content of this announcement. Branicks Group AG: Clear strategy for sustainable stability of the company

• Management Board has presented convincing corporate planning
• Broad approval of creditors for financial concept
• Promissory note loans and bridge financing extended
• Change in the chairmanship of the Supervisory Board intended
• Focus on operating business and value generation of the company

Frankfurt, 26.03.2024 - Branicks Group AG (Branicks), ISIN: DE000A1X3XX4, has today set the course for a sustainably stable future for the company.

Two points are decisive here. On the one hand, the lenders of the promissory note loans amounting to EUR 225 million, which will mature in 2024, voted with 96% in favour of the company's restructuring plan. In doing so, the promissory note loans in question are extended to June 30, 2025.

On the other hand, with the lenders of the bridge financing for the acquisition of the shares in VIB Vermögen AG completed in 2022 an immediate repayment in the amount of EUR 40 million and an extension of the term concerning the remaining EUR 160 million until 31 December 2024 were agreed. The extension is based on almost unchanged conditions.

The agreements are based on the Company's corporate planning for the period up to the end of 2026, the plausibility of which has been confirmed by an independent business review by FTI-Andersch.

This planning ensures a stable financing of the company and the servicing of all existing financial obligations in the long term. On this basis, the Management Board will once again concentrate fully on its strategy of generating value and increasing efficiency in the operating business and will continue to pursue this consistently.

“Branicks now has a stable foundation for shaping the future of the company. We are pleased that we have the broad support of our creditors. The stabilization of the transaction market gives us additional confidence. We can build on this and now concentrate fully on the operational core of the company again, i.e. on generating value and improving efficiency by focusing the company on high-quality real estate in the office and logistics asset classes”, commented Sonja Wärntges, CEO of Branicks Group AG.