ADLER Real Estate AG: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution
ADLER Real Estate AG / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
Disclosure of Material Transactions with Related Parties in Accordance with Section 111c German Stock Corporation Act (Aktiengesetz, AktG)
ADLER Real Estate Aktiengesellschaft, Berlin
Today, ADLER Real Estate Aktiengesellschaft (the “Company“) signed a loan agreement on the granting of a loan in an amount of EUR 253 million to its majority shareholder, ADLER Group S.A. (“ADLER Group“), approved by the Supervisory Board according to sec. 111b para. 1 AktG. ADLER Group holds 96.72% of the shares in the Company and is therefore a related party pursuant to sec. 111a para. 1 AktG.
By granting the loan to ADLER Group at an arm’s length interest rate, the Company’s excess liquidity obtained in the course of transactions is used efficiently and stands up to an arm’s length comparison.
This transaction involves the granting of an initially unsecured loan at an arm’s length interest rate. The standard market terms for bank and capital market financing apply. In particular, the Company has the right to demand collateral in the event of a significant deterioration in ADLER Group’s financial circumstances. In addition, the Company may demand repayment of the amounts extended at any time in the event of non-performance by ADLER Group of certain of its obligations. ADLER Group, on the other hand, has the right to prepay all or part of the loan with 5 days’ notice.
Berlin, March 30, 2022
ADLER Real Estate Aktiengesellschaft
|ADLER Real Estate AG
|Am Karlsbad 11
|End of News
|DGAP News Service