Peach Property Group AG: Successful Completion of Capital Increase

[ Report ]

Zürich (pta006/10.12.2024/07:00) - Ad hoc announcement pursuant to Art. 53 LR

* Capital increase successfully completed

* Issuance of new shares and start of trading scheduled for December 12, 2024

* Capital structure and group liquidity significantly strengthened

The Board of Directors of Peach Property Group AG ("Peach Property Group" or the "Company") announces the successful completion of the ordinary capital increase approved by shareholders at the extraordinary general meeting on September 27, 2024.

The Company conducted a rights offering from November 29, 2024, to December 5, 2024. Nearly all subscription rights were exercised during the subscription period, which ended yesterday, December 9, 2024, at 12:00 noon CET. The few subscription rights not exercised or traded during the subscription period lapsed without compensation. Subsequently, shares not taken up through subscription rights were allocated in accordance with the Prospectus and the respective backstop agreements to existing shareholders who had committed to a backstop.

On Wednesday, December 11, 2024, the Board of Directors will register the capital increase with the commercial register. With the registration of the capital increase, the Company's currently registered share capital of CHF 22,670,918 will increase by CHF 22,729,450 to CHF 45,400,368. This is being achieved through the issuance of new registered shares with a nominal value of CHF 1.00 per share. The issuance of 22,729,450 new shares is priced at CHF 5.00 per share, resulting in a total transaction volume of CHF 113,647,250.

With the planned listing of the new shares on December 12, 2024, there will be a regulatory standard change from the International Reporting Standard to the Standard for Real Estate Companies. The issuance of the new shares and the commencement of trading are also scheduled for December 12, 2024.

Gerald Klinck, CEO of Peach Property Group: "The successful completion and the positive market response to our capital increase are a strong vote of confidence from shareholders in the Company and our refined business model. The almost 100% exercise rate of the subscription rights demonstrates that investors are positively embracing our new strategy and are confident in a successful future for Peach Property Group. The proceeds from the capital increase will decisively strengthen our capital structure and group liquidity while reducing net debt. At the same time, the improved financial profile creates flexibility for the upcoming refinancing in 2025 and for investments in the existing portfolio, enabling further organic growth."

Contacts:

Media, investors and analysts:

Gerald Klinck, Chief Executive Officer
+41 44 485 50 00 | investors@peachproperty.com

German media

Rosenberg Strategic Communications GmbH & Co. KG

Dirk T. Schmitt, Managing Partner

+49 170 302 8833 | D.Schmitt@RosenbergSC.com

About Peach Property Group AG

Peach Property Group is a property investor focused on residential investment in Germany. The group stands for many years of experience, expertise and quality. Innovative solutions for tenants' needs, strong partnerships and a broad value chain complete the profile, while digitalization and sustainability characterize the operational business. The portfolio consists of high-yield properties, typically in German Tier II cities in the catchment areas of major metropolitan areas. Activities therefore cover the entire value chain, from site evaluation and acquisition to active asset management and the letting or sale of properties. In addition, the Group is developing selected properties in Switzerland for sale as condominiums, the latest of which is the "Peninsula Wädenswil" project.

Peach Property Group AG is headquartered in Zurich and has its German headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). The Board of Directors includes Michael Zahn (Chairman), Cyrill Schneuwly, Beat Frischknecht, Urs Meister and Eric Assimakopoulos.

Further information: https://www.peachproperty.com/en/

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