Disclosure of Inside Information Pursuant to Article 17 of Regulation (EU) No. 596/2014
Berlin, November 8, 2023 – On July 20, 2023, ACCENTRO Real Estate AG (“Company”) received a non-binding expression of interest from NongHyup Bank Co. Ltd., acting as trustee for the Shinhan AIM Structured General Private Investment Trust No. 5 (“Shinhan”), and from Nox Capital Holding GmbH (“Nox Capital”) (collectively, the “Interested Parties”), which was subject to various conditions, in particular the completion of a due diligence review.
Following the completion of Phase 1 of the due diligence review that had been initiated, the Interested Parties submitted a non-binding offer to the Company dated November 8, 2023. The non-binding offer states that the Interested Parties intend to acquire a controlling majority stake in the Company, either through a mutually agreed-upon arrangement with Brookline Real Estate S.à.r.l. (“Brookline”) or by enforcing a security interest in Brookline’s shares—which, according to the Interested Parties, currently exists—and by submitting a takeover bid based on the statutory minimum bid price. The non-binding offer provides for the raising of equity or equity-like capital in an amount of up to 20 million euros for the benefit of the Company. To the extent that the capital is raised through a capital increase, the Interested Parties are considering an issue price of EUR 1.00 for the new shares.
The non-binding offer is subject to various conditions, including a comprehensive amendment of the bond terms, which entails, among other things, an adjustment of the interest terms and the agreed maturities. The interested parties have informed the company of their intention to approach the bondholders in parallel with the non-binding offer.
The Company’s Executive Board will assess whether, based on the non-binding offer from the interested parties, Phase 2 of the due diligence process can and should be initiated. The Company’s Executive Board will provide immediate updates on all material developments.
Person Issuing the Announcement:
Thomas Eisenlohr, Head of Investor Relations
Tel.: +49 (0)30 887181272
eisenlohr@accentro.de
Berlin, November 8, 2023
The Executive Board: ACCENTRO Real Estate AG Kantstraße 44/45 D-10625 Berlin
ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5
Stock Exchanges: Frankfurt Stock Exchange, Regulated Market (Prime Standard) / Luxembourg Stock Exchange
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272