Brief: GORE German Office Real Estate To Convene Shareholders' Meeting On 8 June 2022 For Resolution On Capital Increase

GORE German Office Real Estate AG

18/05/2022 15:17

May 18 (Reuters) - GORE GERMAN OFFICE REAL ESTATE AG
 GAG1n.DE :
    * GORE GERMAN OFFICE REAL ESTATE AG: CONVENING OF AN
EXTRAORDINARY
SHAREHOLDERS' MEETING ON 8 JUNE 2022/ RESOLUTION ON GORE CAPITAL
INCREASE
    * HAVE RESOLVED TO CONVENE AN EXTRAORDINARY SHAREHOLDERS'
MEETING
FOR 8 JUNE 2022
    * GORE'S SHARE CAPITAL OF EUR 37,525,000 IS TO BE INCREASED
BY EUR
160,000,000 TO EUR 197,525,000 BY ISSUING 160,000,000 NEW
REGISTERED NO-PAR VALUE SHARES, EACH REPRESENTING EUR 1.00 OF
SHARE CAPITAL
    * VALUE PER SHARE TO BE APPLIED FOR GORE IS EUR 3.00
    * THIS MEANS THAT VALUATION IS SIGNIFICANTLY HIGHER THAN
CURRENT
STOCK MARKET CLOSING PRICE OF EUR 2.12 (AS OF 16 MAY 2022)
    * THIS CAPITAL INCREASE IN KIND IS TO BE RESOLVED AT
EXTRAORDINARY
SHAREHOLDERS' MEETING OF PREOS ON 9 JUNE 2022
    * THIS FURTHER CAPITAL INCREASE AGAINST CONTRIBUTIONS IN
KIND IS
EXPECTED TO BE CARRIED OUT AGAINST ISSUANCE OF FURTHER NEW GORE
SHARES WITH AN EXPECTED EQUIVALENT VALUE OF APPROXIMATELY EUR
1.75 BILLION BETWEEN Q4 2022 AND Q4 2023
    * FOURTH AND FINAL STEP PROVIDES FOR NEW GORE SHARES CREATED
AS A
RESULT OF THIS FURTHER NON-CASH CAPITAL INCREASE TO BE
CONTRIBUTED TO PREOS

Source text for Eikon:  ID:nEQ4lDG72a 
Further company coverage:  GAG1n.DE 

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