The Grounds Initiates Capital Measures Following General Meeting Approval

The Grounds Real Estate Development AG has commenced the implementation of capital measures approved during the Ordinary General Meeting on 19 September 2024. The company announced a subscription offer for a capital increase up to EUR 53.4 million, with a subscription period from 29 November to 12 December 2024. Shareholders can subscribe to new shares at EUR 1.00 each, with a 1:6 subscription right.

A capital reduction at a 2:1 ratio is set to occur during the subscription period, pending registration. This will decrease the company's share capital from EUR 17.8 million to EUR 8.9 million, resulting in a reduced number of shares.

Additionally, a company managed by H.I.G. Capital has indicated a commitment to subscribe for 40 million new shares, contingent upon meeting certain conditions. The Grounds expects to communicate further details on the capital reduction soon.