DEMIRE Deutsche Mittelstand Real Estate AG: Majority shareholder aims for the distribution of a dividend for the financial year 2019 in the amount of the accumulated profit
August 14, 2020 at 08:08 am EDT
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DGAP-Ad-hoc: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Payout/Dividend
DEMIRE Deutsche Mittelstand Real Estate AG: Majority shareholder aims for the distribution of a dividend for the financial year 2019 in the amount of the accumulated profit
14-Aug-2020 / 14:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DEMIRE Deutsche Mittelstand Real Estate AG: Majority shareholder aims for the distribution of a dividend for the financial year 2019 in the amount of the accumulated profit
Langen, 14 August 2020 - Today, DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has received a letter from its majority shareholder, AEPF III S.à r.l. ("Apollo"). In this letter the majority shareholder informs the Executive Board of the Company that in light of the existing significant liquidity it aims for the distribution of a dividend in the amount of the entire accumulated profit.
The accumulated profit as of 31 December 2019 amounted to approximately EUR 57.6 million. As of 30 June 2020, the Company had cash and cash equivalents amounting to proximately EUR 81.0 million. In addition, executed credit agreements with short-term available disbursement amounts of EUR 62.5 million exist.
Apollo holds 64.07% of the voting rights in the Company. The Company expects that the majority shareholder Apollo would exercise its voting rights at the annual general meeting in favour of such a dividend distribution.
DEMIRE Deutsche Mittelstand Real Estate AG
The Executive Board
Contact:
Michael Tegeder
Head of Investor Relations & Corporate Finance
DEMIRE Deutsche Mittelstand Real Estate AG
Telephone: +49 (0) 6103 372 49 44
Email: tegeder@demire.ag
14-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
DEMIRE Deutsche Mittelstand Real Estate AG
Robert-Bosch-Straße 11 im 'the eleven'
63225 Langen (Hessen)
Germany
Phone:
+49 6103 37249-0
Fax:
+49 6103 37249-11
E-mail:
ir@demire.ag
Internet:
www.demire.ag
ISIN:
DE000A0XFSF0
WKN:
A0XFSF
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
DEMIRE Deutsche Mittelstand Real Estate AG is a Germany-based commercial real estate company. The Company focuses on office, retail and logistics real estate and owns approximately 70 commercial properties with rentable building space in medium-sized cities and locations bordering metropolitan areas across Germany, such as in the Munich, Freiburg, Rostock, Stuttgart, Cologne, Leverkusen, Dusseldorf, Bonn, Wuppertal, Bremen, Hamburg, Berlin, Leipzig and Dresden areas. The core business activities of the Company are the acquisition, the management and the rental of commercial real estate and their further development, for example, through modification, modernization or expansion and active portfolio management.
DEMIRE Deutsche Mittelstand Real Estate AG: Majority shareholder aims for the distribution of a dividend for the financial year 2019 in the amount of the accumulated profit