on The Grounds Real Estate Development AG (isin : DE000A2GSVV5)
The Grounds Real Estate Development AG Announces Capital Measures with H.I.G. Capital
The Grounds Real Estate Development AG has declared a series of capital measures involving H.I.G. Capital. A capital increase of up to EUR 53.4 million will be discussed at their Annual General Meeting on 19 September 2024. This follows a 2:1 capital reduction aimed at offsetting losses and consolidating shares.
H.I.G. Capital will subscribe for 40,000,000 new shares, subject to conditions including merger clearance from the German Federal Cartel Office. The company aims to implement these measures by the end of the year.
In addition, H.I.G. Capital has agreed to increase a bond issued in October 2023 by EUR 4.5 million, bringing its total volume to EUR 17 million. This bond will now mature on 31 December 2029.
R. E.
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