DGAP-Adhoc
Grand City Properties S.A. successful placement of new shares from 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 SUCCESSFUL PLACEMENT OF NEW SHARES FROM CAPITAL INCREASE
Luxembourg, June 21, 2017, 7:45 CEST - Following an accelerated book building process on 20 June 2017, Grand City Property S.A. ("Company") will increase the Company's total share capital from EUR 15,378,888.30 by EUR 1,100,000.00 to EUR 16,478,888.30 through the issue of 11,000,000 shares (the "New Shares"). The offer price per New Share was fixed at EUR 18. The New Shares were successfully placed by way of private placement. The gross proceeds will primarily be used to fund the Company's growth strategy.
About the Company:
Grand City Properties is a specialist in residential real estate, value-add opportunities in densely populated areas in Germany. The Company's strategy is to improve its properties through targeted
modernization and intensive tenant management, and then create value by subsequently raising occupancy and rental levels. Further information: www.grandcityproperties.com
Grand City Properties (ISIN: LU0775917882) is a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 24, Avenue Victor Hugo, L 1750 Luxembourg and being registered with the Luxembourg trade and companies register (Registre de Commerce et des Sociétés Luxembourg) under number B 165 560. The shares of Grand City Properties are listed on the Prime Standard segment of Frankfurt Stock Exchange.