GORE German Office Real Estate AG

Share Issue/Capital Change • Jul 14, 2020

News Details

Corporate | 14 July 2020 16:06

GORE German Office Real Estate AG: Shareholders’ Meeting approves acquisition of 89.9% of PREOS Immobilien GmbH as part of a non-cash capital increase against the issue of new shares

DGAP-News: GORE German Office Real Estate AG / Key word(s): AGM/EGM/Real Estate

14.07.2020 / 16:06

The issuer is solely responsible for the content of this announcement.

GORE German Office Real Estate AG: Shareholders’ Meeting approves acquisition of 89.9% of PREOS Immobilien GmbH as part of a non-cash capital increase against the issue of new shares

Frankfurt/Main, 14 July 2020 – At today’s Shareholders’ Meeting of GORE German Office Real Estate AG (“GORE”; ISIN DE000A0Z26C8), the company’s shareholders resolved to acquire 89.9% of the share capital of PREOS Immobilien GmbH (“PREOS Immo”) by way of a non-cash capital increase, excluding shareholders’ subscription rights, in return for the issue of new shares. PREOS Immo is a 100% subsidiary of PREOS Real Estate AG (“PREOS”). The resolution was approved by a majority of 97,63% of the votes. The capital increase against contribution in kind will be carried out against the granting of 22,475,000 new shares at a value of EUR 8.00 per share. The exchange ratio is 1,000:1, i.e. the PREOS receives 1,000 new shares in GORE for each share in PREOS Immo. The exchange ratio is based on a valuation of PREOS Immo of EUR 200 million.

Moreover, Hans-Dieter Sacher was elected to the Supervisory Board by the shareholders. He was appointed to the Supervisory Board by court order on 30 June 2020. On 7 July 2020, the Supervisory Board voted to appoint Mr Sacher as Chairman of the Supervisory Board by resolution. Stephan Noetzel and Christoph Blacha were confirmed in their positions on the GORE Supervisory Board. Stephan Noetzel remains Deputy Chairman of the Supervisory Board.

All other items on the agenda were also approved by a large majority of more than 97%. The voting results are available on the company’s website under the section “Investor Relations”.

About GORE

The GORE German Office Real Estate AG (“GORE”) is a dynamically growing real estate investor with a focus on office properties in German conurbations. Using a manage-to-core approach, GORE acquires properties in preferred locations at below market value wherever possible in order to sustainably enhance their value. Investment activities focus on properties with a market value of between EUR 1 and 15 million. Compared to other property sizes, this size class offers a less competitive market environment in terms of purchasing according to GORE estimates. GORE’s aim is to generate above-average value enhancement and return potential along the entire value chain, from acquisition through management to sale, together with its partners. The volume of the real estate portfolio is expected to be multiplied by acquisitions in the coming years.

Press Contact:

Financial Press and Investor Relations:

edicto GmbH

Axel Mühlhaus

Phone: +49 69 905505-52

Mail: gore@edicto.de

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14.07.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	GORE German Office Real Estate AG
	Bockenheimer Landstraße 17-19
	60325 Frankfurt am Main
	Germany
Phone:	069 / 2714 74 038
E-mail:	info@gore-ag.de
Internet:	www.gore-ag.de
ISIN:	DE000A0Z26C8
WKN:	A0Z26C
Listed:	Regulated Unofficial Market in Frankfurt, Munich (m:access)
EQS News ID:	1093769

End of News	DGAP News Service