December 4, 2023

PREOS Global Office Real Estate & Technology AG: Bondholders resolve to restructure the 7.5% PREOS convertible bond 2019/2024

Publication of inside information pursuant to Art. 17 of Regulation (EU) No. 596/2014

PREOS Global Office Real Estate & Technology AG: Bondholders resolve to restructure the 7.5% PREOS convertible bond 2019/2024

 

Frankfurt am Main, December 4, 2023, 12:00 p.m. - The bondholders of the 7.5% PREOS convertible bond 2019/2024 (ISIN: DE000A254NA6, "PREOS convertible bond") have approved all items on the agenda by voting without a meeting. 93.62% of the outstanding bond volume took part in the vote, thus achieving the required quorum of 50%. The bondholders approved all items on the agenda with more than 77.91%.

Among other things, it was decided that the interest on the PREOS convertible bond will be terminated with effect from December 8, 2022, the issuer's conversion right (mandatory conversion) will be introduced and the conversion price will be reduced to EUR 4.50. The PREOS Management Board sees the resolutions as a good basis for ensuring that the company's financial base is also fit for the future.

 

EXPLANATORY NOTES

About PREOS Global Office Real Estate & Technology AG

PREOS Global Office Real Estate & Technology AG ("PREOS") is an active real estate investor focused on sustainable office properties in the green development sector. In its acquisitions, the focus is on ESG-compliant office properties with development potential in German metropolitan regions as well as undeveloped land where ESG project developments are possible. Added value is generated through targeted asset management measures. Developed portfolio properties are sold if adequate sales opportunities arise. The corporate strategy is to significantly expand the portfolio of properties with an ESG focus through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the m:access OTC segment of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). PREOS is headquartered in Frankfurt am Main.

 

Press contact:

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60322 Frankfurt am Main

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PREOS Global Office Real Estate & Technology AG: Bondholders resolve to restructure the 7.5% PREOS convertible bond 2019/2024