DGAP-Adhoc
Grand City Properties S.A. announces capital increase
DGAP-Ad-hoc: Grand City Properties S.A. / Key word(s): Capital Increase/Real Estate THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS |
Disclosure of Inside Information pursuant to Art. 17 MAR
GRAND CITY PROPERTIES S.A. ANNOUNCES CAPITAL INCREASE
Luxembourg, June 20, 2017, 17:40 CEST - The Board of Directors of Grand City Properties S.A. (the "Company") resolved today to increase the Company's total share capital from EUR 15,378,888.30 by up to EUR 1,100,000.00 to up to EUR 16,478,888.30 through an issue of up to 11,000,000 new ordinary shares (the "New Shares") with a par value of EUR 0.10 each, against cash contributions, by exercising the authorized capital of the Company which will increase the current amount of 153,788,883 shares (the "Existing Shares") to up to 164,788,883 shares. The New Shares will carry dividend rights pari passu with the Existing Shares.
The issue price for the New Shares will be determined on the basis of the outcome of an accelerated bookbuilding process. Subscription rights of existing shareholders were excluded.
The New Shares will be offered to institutional investors by means of a private placement outside the United States in reliance on Regulation S under the U.S. Securities Act of 1933, as amended, (the "Securities Act") and in the United States only to persons reasonably believed to be qualified institutional buyers ("QIBS") within the meaning of and in reliance on Rule 144A under the Securities Act in compliance with any applicable securities laws. The Existing Shares and the New Shares have not been and will not be registered under the Securities Act.