Peach Property Group AG: Gerald Klinck becomes new CEO - Anchor shareholders subscribe for new shares

[ Report ]

Zürich (pta006/13.03.2024/07:00) - Ad hoc announcement pursuant to Art. 53 LR

* Gerald Klinck will be appointed as the new CEO of Peach Property Group AG on 15 April 2024
* Anchor shareholders subscribe for 1.93 million new shares from the capital band

Effective 15 April 2024, Gerald Klinck will become the new CEO of Peach Property Group AG ("Peach Property", "Group"), a real estate company with an investment focus on affordable residential rental properties in Germany. This was announced by the board of directors today.

Gerald Klinck has more than 25 years of professional experience in the real estate industry. The 54-year-old was, among other things, a member of the Executive Board of Deutsche Wohnen Group, board member at Vonovia, and CFO and Co-CEO at TLG Immobilien. Since 2020, Klinck has been with Cureus GmbH, a specialist in nursing properties, holding positions as CFO and CEO.

In addition to his role as CEO at Peach Property, Gerald Klinck will also take over the responsibilities of the CFO. With the arrival of Gerald Klinck, Klaus Schmitz will step down as Executive Chairman and will solely hold the office of Chairman of the Board of Directors.

Anchor shareholders subscribe for new shares from the capital band

Peach Property also announces the subscription for 1.93 million new shares by existing anchor shareholders. In doing so, those shareholders are signaling their support for the company's strategy.

The subscriptions are made under exclusion of subscription rights. The subscription price per share is at the 30-day volume weighted average of 8.78 CHF, the total issue volume amounts to around 16.9 million CHF (17,7 million EUR). The delivery of the new shares is expected to take place on 16 April 2024.

Alongside the ongoing asset sales activities highlighted earlier in the year which may also include a sale of a significant part of the company's portfolio, the funds received by the company from the capital increase will serve to further strengthen liquidity and enable investments in asset management measures to further increase the occupancy rate in a strong market environment. This measure also reduces the pro forma loan to value (LTV) to 56,8 %.

Klaus Schmitz, Executive Chairman of the Board of Directors of Peach Property, says: "With Gerald Klinck, we were able to attract a proven real estate and financial expert with an impressive track record. With his expertise, he is the ideal fit for the role of CEO also overseeing the financial functions. At the end of 2023, we clearly stated that we want to position Peach Property according to be the highest levels of corporate governance and we have now taken the first step. We will also shortly announce a new board of directors which will be voted on during the next General Meeting. The further investment by our anchor shareholders clearly demonstrates their support for the company's management, strategy, and commitment to deleveraging."

Gerald Klinck, new CEO of Peach Property, says: "I am looking forward to my new role at Peach Property. Together with the team of Peach Property, the goal is to further improve the portfolio, overcome the challenges posed by the financial markets and create value for all stakeholders."

Contacts:

Media, investors and analysts

Thorsten Arsan, Chief Financial Officer and Vanessa da Cruz, Head of Investors Relations & ESG
+41 44 485 50 31 | investors@peachproperty.com

Media in Germany

Feldhoff & Cie, Anke Sostmann, Executive Director
+49 159 04028505 | as@feldhoff-cie.de

About Peach Property Group AG

Peach Property Group is a real estate investor with an investment focus on residential real estate in Germany. The Group stands for many years of experience, competence, and quality. Innovative solutions that cater to tenants' needs, strong partnerships, and a broad value chain round off the profile while digitalization and sustainability underpin the operational activities. The portfolio consists of high-yield properties, typically in German Tier II cities in the commuter belt of metropolitan areas. The activities, therefore, span the entire value chain, from location evaluation and acquisition to active asset management and the letting or sale of properties. In addition, the Group develops selected properties in Switzerland to be sold as condominiums, of which the "Peninsula Wädenswil" development project is the most recent such development project.

Peach Property Group AG has its registered office in Zurich and operational headquarters in Cologne. The Group is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Klaus Schmitz (Chairman), Dr. Christian De Prati and Peter Bodmer.

More information at https://peachproperty.com

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