Aroundtown SA / Keyword (s): Declaration / Real estate
Aroundtown SA announces the accounting consolidation of GCP
23-Jul-2021 / 18:50 CET / CEST
Disclosure of inside information acc. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
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Disclosure of inside information acc. in Article 17 MAR of Regulation (EU) No 596/2014
THIS AD IS NOT FOR DISTRIBUTION, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION OR TO DO SO CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS
AROUNDTOWN ANNOUNCES GCP CONSOLIDATION OF ACCOUNTING
Grand Duchy of Luxembourg, July 23, 2021.
In accordance with IFRS guidelines, Aroundtown (‘the company‘ or ‘TO‘) announces that it has ruled on the accounting consolidation of Grand City Properties SA (‘GCP‘) in its financial statements from the third quarter of 2021. The resolution follows an in-depth analysis of several cumulative circumstances which, together, from an accounting perspective, have led to AT’s investment in GCP being considered a de facto control position, as defined by IFRS. These circumstances included, among others, the increase in the stake in GCP to 44.3%, excluding shares held in treasury by GCP, historical levels of attendance at GCP general meetings and the current composition of GCP’s shareholder base. The consolidation is an accounting adjustment and does not represent any change in the rate at which GCP is held by AT. As AT FFOs already include GCP’s relative share of FFOs, no material changes are expected as a result of AT’s FFO 2021 forecast consolidation. To date, AT does not intend to make any changes to the management or business of GCP, and the AT and GCP leadership teams will continue to explore all possibilities for future generation of GCP. potential synergies.
About the company
Aroundtown SA (symbol: AT1), listed on the Prime Standard of the Frankfurt Stock Exchange, is the largest listed and highest rated German commercial real estate company (BBB + by S&P). Aroundtown invests in quality income generating properties with potential for added value in central locations in leading European cities, mainly in Germany / the Netherlands.
Aroundtown SA (ISIN: LU1673108939) is a public limited company incorporated under the law of the Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register (Trade and Companies Register, Luxembourg) under number B217868, having its registered office at 40, Rue du CurÃ©, L-1368 Luxembourg, Grand Duchy of Luxembourg.
T: +352 288 313
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IN THE MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (EEE) AND THE UNITED KINGDOM, THIS ANNOUNCEMENT AND ANY OFFER IF MADE FOLLOWING IS INTENDED ONLY TO PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE MEANING OF REGULATION (EU) 2017/1129, AS AMENDED (THE RULES FOR THE PROSPECTUS) (QUALIFIED INVESTORS). ANY PERSON IN THE EEA OR THE UNITED KINGDOM WHO ACQUIRES SECURITIES IN AN OFFER (A INVESTOR) OR TO WHICH AN OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED TO BE A QUALIFIED INVESTOR. ANY INVESTOR SHALL ALSO BE CONSIDERED TO HAVE DECLARED AND ACCEPTED THAT THE SECURITIES ACQUIRED BY IT IN THE OFFER WERE NOT ACQUIRED ON BEHALF OF PERSONS IN THE EEA OR THE UNITED KINGDOM OTHER THAN QUALIFIED INVESTORS, NOR THE SECURITIES HAVE BEEN ACQUIRED ACQUIRED FROM THEIR OFFERING OR RESALE IN THE EEA OR THE UK TO PERSONS WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY AROUNDTOWN OR ONE OF THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE REGULATIONS PROSPECTUS.
THIS ADVERTISEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS OR SERVICES, FUTURE FINANCIAL RESULTS OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENT, WHICH IS BEFORE EACH UNCERTAINTIES, MANY OF WHICH ARE OUTSIDE THE CONTROL OF AROUNDTOWN SA. ACTUAL RESULTS MAY MATERIAL DIFFERENT DEPENDING ON A NUMBER OF FACTORS.
23-Jul-2021 CET / CEST DGAP’s distribution services include regulatory announcements, financial / corporate news and press releases.
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