DGAP-Adhoc: Coreo AG carries out a capital increase

Coreo AG carries out a capital increase

• alex schütz familienstiftung (family foundation) takes a stake in the company Coreo
• Volume of 10 percent of the share capital
• Exclusion of shareholders' pre-emption rights

Frankfurt am Main, Germany - 3 June 2020 - With the approval of the Supervisory Board, Coreo AG's Management Board resolved to increase the Company's share capital of currently EUR 15,945,880 to EUR 17,540,460 by issuing EUR 1,594,580 new no-par value bearer shares, each with a notional value of EUR 1.00 of the share capital, against cash contributions and excluding the subscription rights of the current shareholders in compliance with section 186 (3) sentence 4 of the German Stock Corporation Act (AktG) and by using the existing Authorised Capital 2019/I.

The issue price per new share is EUR 1.20. With effect from January 1, 2019, the new shares are entitled to a share in profits.

The alex schütz familienstiftung (family foundation) will subscribe for all Coreo shares. Its founder is the Austrian entrepreneur and investor Alexander Schütz, founder of the asset manager C-Quadrat (assets under management of over EUR 7 billion) and, among others, member of the Supervisory Board of Deutsche Bank.

It is Coreo AG's intention to use the gross issue proceeds of approximately EUR 1.91 million to further expand the real estate portfolio of the company.

End of ADHOC
 

About Coreo AG
Coreo AG, which has its registered office in Frankfurt am Main, is a dynamically growing real estate company with a focus on German commercial and residential properties. Investments are made in real estate with considerable potential for appreciation thru refurbishment and repositioning, preferred in A and B macro locations. The goal is to build up an efficiently managed, high-yielding real estate portfolio through prudent development and the sale of non-strategic properties.