Brief: Preos To Exchange 89.9% Of Preos Immobilien Against New GORE Shares

PREOS Global Office Real Estate & Technology AG

05/06/2020 14:03

June 5 (Reuters) - PREOS REAL ESTATE AG  PAGn.DE :
    * TO CONTRIBUTE 89.9% OF PREOS IMMOBILIEN GMBH TO GORE
GERMAN
OFFICE REAL ESTATE AG AGAINST THE ISSUE OF NEW GORE SHARES AND
TO PROPOSE THE ISSUE OF FREE SHARES TO THE ANNUAL GENERAL
MEETING
    * DECIDED ITS BUSINESS ACTIVITIES TO ONLY BE BASED ON
PURCHASE OF
HIGH-PRICED OFFICE PROPERTIES IN PRIME LOCATIONS IN GERMANY AND
IN FUTURE ALSO EUROPEAN METROPOLISES
    * FOR EACH SHARE IN PREOS IMMO, PREOS IS TO RECEIVE 1,000
NEW
SHARES IN GORE
    * AS A RESULT OF THE TRANSACTION, PREOS WILL HAVE A STAKE OF
AROUND 59.9% IN GORE
    * EXCHANGE CONDITIONS ARE BASED ON A VALUATION OF PREOS IMMO
AT
EUR 200 MILLION

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