publity AG

  • WKN: 697250
  • ISIN: DE0006972508
  • Land: Deutschland

Nachricht vom 07.08.2020 | 10:20

publity AG: publity subsidiary PREOS plans dividend payment and growth of the real estate portfolio - publity's stake in PREOS to be reduced to 25.01 percent by 2023

publity AG / Key word(s): Miscellaneous
publity AG: publity subsidiary PREOS plans dividend payment and growth of the real estate portfolio - publity's stake in PREOS to be reduced to 25.01 percent by 2023

07-Aug-2020 / 10:20 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.


Publication of inside information pursuant to Article 17 of the Regulation (EU)

publity subsidiary PREOS plans dividend payment and growth of the real estate portfolio - publity's stake in PREOS to be reduced to 25.01 percent by 2023

Frankfurt/Main, 07/08/2020 - publity AG (Scale, ISIN DE0006972508, "publity"), has been informed by its subsidiary PREOS Real Estate AG ("PREOS"), in which publity currently holds approximately 86 percent of the shares, about the following subject matters. The Executive Board and Supervisory Board of PREOS Real Estate AG have resolved a long-term dividend policy of the company. Accordingly, the payment of a dividend is to be proposed at the next ordinary Shareholders' Meeting of PREOS for the first time for the current financial year 2020. The total dividend payout is to amount to up to EUR 100 million. A dividend per share of 5 percent of the weighted average PREOS share price in the three months preceding the Shareholders' Meeting is envisaged. This dividend payout is intended to mark the beginning of continuous distributions of PREOS to shareholders. The targeted dividend yield is 5 percent of the share price. With regard to further growth, PREOS plans to increase its assets to around EUR 2 billion in the current year 2020; the company's assets currently amount to around EUR 1.5 billion. PREOS is currently in the exclusive purchasing phase for office properties with a volume of EUR 0.5 billion. By the end of 2024, the portfolio is planned to be expanded to EUR 8 billion with a focus on large-volume office properties in top locations in metropolitan areas such as Frankfurt, London and Paris. PREOS intends to finance growth in the future by involving strategic investors, including by means of capital market instruments. In connection with the accompanying necessary broadening of the shareholder base, publity has defined a target figure of 25.01 percent of the share capital for the level of its participation in PREOS by 2023.

Press Contact:

Financial Press and Investor Relations:
edicto GmbH
Axel Mühlhaus
Phone: +49 69 905505-52
Mail: publity@edicto.de


07-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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