The Extraordinary General Meeting of Corestate Capital Holding S.A. (“Corestate”) today resolved to increase the authorized capital with an approval of 99.7 percent and thus the required majority to amend the Articles of Association. Accordingly, the Management Board is now authorized to increase Corestate’s share capital by up to EUR 15 million by issuing up to 200 million shares.
In accordance with the lock-up agreement Corestate has entered into with a group of major bondholders and equity investors, the Management Board intends to use the new authorized capital, inter alia, to execute a debt-to-equity swap against contribution of the receivables from the bonds issued by Corestate.
About CORESTATE Capital Holding S.A. (CORESTATE)
CORESTATE is an investment manager and co-investor with € 17.3 billion in assets under management in the core business (as of 30 Sep 2022). The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With more than 400 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 countries across Europe, with offices in Frankfurt, Munich, Zurich, Paris, and Madrid. Please visit www.corestate-capital.com for further information.
Forward-looking statements
This press release may contain certain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.
