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on The Grounds Real Estate Development AG (isin : DE000A2GSVV5)

The Grounds Real Estate Development AG: Shareholders Approve Capital Increase

Berlin, 20 September 2024 – The shareholders of The Grounds Real Estate Development AG approved a capital increase during the annual general meeting held on 19 September 2024. The resolution received a clear majority of 95 percent.

The capital increase follows a prior capital reduction at a ratio of 2:1. Up to 53,416,548 new shares will be issued at EUR 1.00 per share. These new shares come with dividend rights starting from 1 January 2024. The subscription ratio is set at 1:6, meaning one existing share allows the holder to subscribe to six new shares.

This decision is a key milestone for the potential partnership with H.I.G. Capital. An investment fund managed by H.I.G. Capital has pre-committed to subscribing 40,000,000 new shares, subject to certain conditions. One vital condition was the change of the company's 2021/2027 bond terms to a zero-coupon bond.

CEO Jacopo Mingazzini emphasized the significant shareholder and strategic partner support, crucial for the company's future steps and collaborations.

R. H.

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