REG-Grand City Properties S.A. Grand City Properties S.A. decides not to exercise its option to voluntarily call EUR 350 million 2.50% Perpetual Notes with a first call date on 24 October 2023

Grand City Properties SAAnnouncement

15/09/2023 11:00

============

   Grand City Properties S.A. (IRSH)
   Grand City Properties S.A. decides not to exercise its option to
   voluntarily call EUR 350 million 2.50% Perpetual Notes with a first call
   date on 24 October 2023

   15-Sep-2023 / 11:48 CET/CEST
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

       THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
    DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA,
       JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
            CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS

        Grand City Properties S.A. decides not to exercise its option to
    voluntarily call EUR 350 million 2.50% Perpetual Notes with a first call
                            date on 24 October 2023

   Luxembourg, September 15, 2023  –The board of  directors (the “Board”)  of
   Grand City Properties S.A.  (the “Company” or “GCP”)  has decided that  it
   will not exercise  the option to  voluntarily redeem its  EUR 350  million
   2.50% undated subordinated notes,  subject to interest  rate reset with  a
   first call date on 24 October 2023 (ISIN XS1811181566) (the  “Perpetuals”)
   on such first call date.

   This decision is based  on the current  prevailing market conditions.  GCP
   has the option to call the  Perpetuals at or around every future  interest
   payment date. The Perpetuals will continue to be accounted as 100%  equity
   under IFRS and for the calculation of financial covenants of GCP’s  senior
   bonds.

   About the Company

   The  Company  is  a  specialist  in  residential  real  estate,  value-add
   opportunities in densely populated areas primarily in Germany and  London.
   The Company’s strategy is to  improve its properties by repositioning  and
   intensive tenant management, and then create value by subsequently raising
   occupancy      and      rental      levels.      Further      information:
   www.grandcityproperties.com

   Grand City  Properties  S.A.  (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 37,  Boulevard
   Joseph  II,  L-1840  Luxembourg,  Grand  Duchy  of  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
   the Company are listed  on the Prime Standard  segment of Frankfurt  Stock
   Exchange.

   Contact:
   Grand City Properties S.A.
   37, Boulevard Joseph II,
   L-1840 Luxembourg
   T: +352 28 77 87 86
   E: info@grandcity.lu
   www.grandcityproperties.com

   Investor Relations Team:
   Grand City Properties S.A.
   E:  1 gcp-ir@grandcity.lu

   DISCLAIMER:

   THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION
   OF AN OFFER TO BUY ANY SECURITIES.

   THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL  NOT
   BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS  AMENDED
   (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED  STATES
   ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
   ACT. THERE WILL  BE NO  PUBLIC OFFERING OF  THE SECURITIES  IN THE  UNITED
   STATES.

   THIS ANNOUNCEMENT IS  DIRECTED AT  AND IS  ONLY BEING  DISTRIBUTED IN  THE
   UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN  MATTERS
   RELATING TO  INVESTMENTS FALLING  WITHIN ARTICLE  19(5) OF  THE  FINANCIAL
   SERVICES AND  MARKETS  ACT  2000 (FINANCIAL  PROMOTION)  ORDER  2005  (THE
   ORDER), (II) HIGH  NET WORTH ENTITIES,  AND OTHER PERSONS  TO WHOM IT  MAY
   OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER,
   AND (III) PERSONS TO WHOM IT  MAY OTHERWISE LAWFULLY BE COMMUNICATED  (ALL
   SUCH PERSONS  TOGETHER  BEING  REFERRED  TO  AS  RELEVANT  PERSONS).  THIS
   COMMUNICATION MUST NOT BE READ, ACTED ON  OR RELIED ON BY PERSONS WHO  ARE
   NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH  THIS
   ANNOUNCEMENT RELATES IS  AVAILABLE ONLY  TO RELEVANT PERSONS  AND WILL  BE
   ENGAGED IN ONLY WITH RELEVANT PERSONS.

   IN MEMBER STATES OF  THE EUROPEAN ECONOMIC  AREA (EEA), THIS  ANNOUNCEMENT
   AND ANY OFFER  IF MADE SUBSEQUENTLY  IS DIRECTED ONLY  AT PERSONS WHO  ARE
   “QUALIFIED INVESTORS” WITHIN THE MEANING  OF ARTICLE 2(1)(E) OF  DIRECTIVE
   2003/71/EC, AS AMENDED (THE  PROSPECTUS DIRECTIVE) (QUALIFIED  INVESTORS).
   ANY PERSON  IN  THE EEA  WHO  ACQUIRES THE  SECURITIES  IN ANY  OFFER  (AN
   INVESTOR) OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO
   HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY  INVESTOR
   WILL ALSO BE  DEEMED TO HAVE  REPRESENTED AND AGREED  THAT ANY  SECURITIES
   ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN
   THE EEA  OTHER THAN  QUALIFIED  INVESTORS, NOR  HAVE THE  SECURITIES  BEEN
   ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS  WHERE
   THIS WOULD RESULT IN A REQUIREMENT  FOR PUBLICATION BY THE COMPANY OR  ANY
   OF THE MANAGERS OF  A PROSPECTUS PURSUANT TO  ARTICLE 3 OF THE  PROSPECTUS
   DIRECTIVE.

   THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS  OR ESTIMATES RELATING TO  PLANS
   AND OBJECTIVES RELATING TO OUR  FUTURE OPERATIONS, PRODUCTS, OR  SERVICES,
   FUTURE FINANCIAL RESULTS,  OR ASSUMPTIONS  UNDERLYING OR  RELATING TO  ANY
   SUCH STATEMENTS,  EACH OF  WHICH CONSTITUTES  A FORWARD-LOOKING  STATEMENT
   SUBJECT TO RISKS AND UNCERTAINTIES, MANY  OF WHICH ARE BEYOND THE  CONTROL
   OF THE COMPANY.  ACTUAL RESULTS  COULD DIFFER MATERIALLY,  DEPENDING ON  A
   NUMBER OF FACTORS.

   ══════════════════════════════════════════════════════════════════════════

   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          LU0775917882, LU0775917882 , XS1491364953, XS1811181566,
                  XS2271225281, XS1220083551, XS1654229373, XS1706939904,
                  XS1706939904, XS1763144604, XS1781401085, CH0401956872,
                  XS1827041564, XS1851265527, XS1953786222, XS1964638446,
                  CH0482172415, XS2016885159, XS2033380820, XS2035328223,
                  XS2154325562, XS2282101539,
   Category Code: MSCL
   TIDM:          IRSH
   LEI Code:      5299002QLUYKK2WBMB18
   Sequence No.:  271866
   EQS News ID:   1727529


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    2 fncls.ssp?fn=show_t_gif&application_id=1727529&application_name=news&site_id=refinitiv2

References

   Visible links
   1. mailto:gcp-ir@grandcity.lu


============