GORE German Office Real Estate AG will not implement the capital increase resolved on June 8, 2022
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EQS-Ad-hoc: GORE German Office Real Estate AG / Key word(s): Miscellaneous Publication of inside information pursuant to Art. 17 of Regulation (EU) No. 596/2014
GORE German Office Real Estate AG will not implement the capital increase resolved on June 8, 2022
Frankfurt/Main, 13. April 2023 – The Management Board of GORE German Office Real Estate AG ("GORE", ISIN DE000A0Z26C8) today decided not to pursue the capital increase against contribution in kind resolved by the Extraordinary GORE Shareholders' Meeting on 8 June 2022 with an extension resolution of the Annual General Meeting on 7 December 2022. The decision was taken because the potential Luxembourg investor of GORE did not give a binding commitment to complete the transaction, of which the non-cash capital increase of GORE would have been an integral part, due to the legal disputes filed by shareholders of PREOS and GORE against the implementation of the non-cash capital increases. The complex transaction structure would also have included, among other things, a non-cash capital increase at GORE's majority shareholder PREOS Global Office Real Estate & Technology AG ("PREOS"). The decision not to implement the GORE non-cash capital increase was decided at a joint meeting with the Management Board of PREOS, at which the latter also abandoned its plans to implement the non-cash capital increase resolved by the Extraordinary General Meeting of PREOS on June 9, 2022, with an extension resolution of the Annual General Meeting on December 8, 2022. As the parent company of the Group, the Management Board of publity AG was involved in the respective decisions.
Currently, actions for rescission against the resolutions of the PREOS and GORE Annual General Meetings of June and December 2022 are still pending and, following fruitless discussions with the rescission plaintiffs, the Management Board does not expect these proceedings to be concluded by the expiry of the extended deadlines for the registration of the implementation of the respective capital increase against contribution in kind on June 7 and 8, 2023, respectively.
With the decision of the Executive Board, GORE is also in a position to actively pursue currently available business prospects without delay.
End of Inside Information Information and Explanation of the Issuer to this announcement: About GORE German Office Real Estate AG GORE German Office Real Estate AG ('GORE') is a dynamically growing real estate investor focusing on office properties in German metropolitan areas. Using a manage-to-core approach, GORE acquires properties in preferred locations, if possible below market value, in order to increase their value over the long term. Investment activities focus on properties with a market value of between EUR 1 and 15 million. In GORE's view, this size category offers a less competitive market environment when purchased, compared with other property sizes. GORE's aim is to work with its partners from acquisition to management and sale to generate above-average value growth and return potential along the entire value chain. Acquisitions are expected to multiply the volume of the real estate portfolio in the coming years.
Press contact edicto GmbH Axel Mühlhaus/ Svenja Liebig Eschersheimer Landstraße 42 60322 Frankfurt am Main Phone +49(0) 69/905505-56 E-mail: gore@edicto.de
13-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | GORE German Office Real Estate AG |
| Bockenheimer Landstraße 17-19 | |
| 60325 Frankfurt am Main | |
| Germany | |
| Phone: | 069 / 2714 74 038 |
| E-mail: | info@gore-ag.de |
| Internet: | www.gore-ag.de |
| ISIN: | DE000A0Z26C8 |
| WKN: | A0Z26C |
| Listed: | Regulated Unofficial Market in Frankfurt, Munich (m:access) |
| EQS News ID: | 1607297 |
| End of Announcement | EQS News Service |
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1607297 13-Apr-2023 CET/CEST
