DGAP-Adhoc: CONSUS Real Estate AG: Holders of the EUR 200,000,000 4.00% bonds due 2022 unanimously resolve to adopt the proposed amendments to the terms and conditions to align with standard market conversion process.
DGAP-Ad-hoc: CONSUS Real Estate AG / Key word(s): Bond
CONSUS Real Estate AG: Holders of the EUR 200,000,000 4.00% bonds due 2022 unanimously resolve to adopt the proposed amendments to the terms and conditions to align with standard market conversion process.
15-Oct-2019 / 10:51 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Berlin, 15 October 2019: The notary chairing the voting procedure informed the management board of Consus Real Estate AG (the Company) today that the holders of the EUR 200,000,000 4.00% bonds due 2022 (the Bonds) unanimously resolved to adopt the proposed amendments to the terms and conditions of the Bonds in the voting without physical meeting (voting period from 10 October 2019 00:00 hrs until 14 October 2019 24:00 hrs).
The current terms and conditions provide that the bondholders in connection with a conversion request may offer Bonds held by them to the Company as a contribution in kind, upon which the Company decides whether to accept the offer, to implement a capital increase from authorized capital and deliver shares of the Company or pay a cash amount.
With the amendment of the terms and conditions, the conversion mechanism is revised to align with the standard market conversion process. Specifically, conditional capital will serve as underlying the Bonds in the future. Otherwise, the economic terms of the Bonds (in particular the nominal amount, term, coupon, conditions for conversions incl. cash settlement) will remain unchanged. The amendments of the terms and conditions will be implemented as soon as possible.
Contact:
Investor Relations
Robert Stierwald
phone +49 30 96535790264
investors@consus.ag
Information and Explanation of the Issuer to this News:The current terms and conditions provide that the bondholders in connection with a conversion request may offer Bonds held by them to the Company as a contribution in kind, upon which the Company decides whether to accept the offer, to implement a capital increase from authorized capital and deliver shares of the Company or pay a cash amount.
With the amendment of the terms and conditions, the conversion mechanism is revised to align with the standard market conversion process. Specifically, conditional capital will serve as underlying the Bonds in the future. Otherwise, the economic terms of the Bonds (in particular the nominal amount, term, coupon, conditions for conversions incl. cash settlement) will remain unchanged. The amendments of the terms and conditions will be implemented as soon as possible.
Contact:
Investor Relations
Robert Stierwald
phone +49 30 96535790264
investors@consus.ag
About Consus Consus Real Estate AG ('Consus') with its head quarter in Berlin is the leading property developer in the top 9 cities in Germany. The development portfolio of Consus had a gross development value (GDV) of EUR 10 bn as of 30 June 2019. Consus focuses on the development of entire neighbourhoods ('quartiers') and standardised flats that it forward sells to institutional investors. The in-house construction expertise and the digitalisation of construction processes allow Consus to operate along the entire property development value chain. Consus implements development projects from planning through construction to transfer of ownership, as well as delivers property management and related services through its subsidiaries CG Gruppe AG and Consus Swiss Finance AG. Consus's shares are included in the Scale segment of the Frankfurt Stock Exchange and the m:access segment of the Munich Stock Exchange and are traded on XETRA in Frankfurt, among others.
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