init innovation in traffic systems SE

Related Party Transaction • Dec 21, 2022

News Details

Related Party Transactions | 21 December 2022 09:59

init innovation in traffic systems SE: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

init innovation in traffic systems SE / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]

init innovation in traffic systems SE: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

21.12.2022 / 09:59 CET/CEST

Dissemination of a Related Party Transactions announcement transmitted by EQS News – a service of EQS Group AG.

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

On 7 December 2022, the Supervisory Board of init innovation in traffic systems SE (init SE, ISIN DE 0005759807) approved the extension of a long-term lease agreement for an office building between Dr Gottfried Greschner GmbH & Co. Vermögens-Verwaltungs KG and by Eila Greschner as lessor and init SE as lessee. The addendum was signed on 20 December 2022 and comes into force with effect from 1 January 2023.

The company, named as Dr Gottfried Greschner GmbH & Co. Vermögens-Verwaltungs KG is a shareholder of init SE with 33.2 per cent and is controlled by the Chairperson of the Managing Board, Dr Gottfried Greschner. Eila Greschner is the wife of the Chairperson of the Managing Board. Both are therefore considered related parties in line with Section § 111a AktG.

The object of the lease agreement is an office building at the headquarters of the company totalling approx. 3,700 m², in which individual departments (administration and development) of the INIT group are located. A small proportion is used for storage, and there are also 33 indoor and 30 outdoor parking spaces. The lease agreement was extended until 31 December 2042 with the exclusion of the extraordinary right of termination. The lease amounts to EUR 53,527.57 net monthly. The value of the addendum during the fixed period discounted by an interest rate for matching maturities and risks totals EUR 7.357.610,32 net.

The Managing Board and Supervisory Board of init SE have had the calculated rental amount validated by experts for real estate appraisals.

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Language:	English
Company:	init innovation in traffic systems SE
	Käppelestraße 4-10
	76131 Karlsruhe
	Germany
Internet:	www.initse.com

End of News	EQS News Service