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Due to alternative financing options, Coreo AG waives the issuance of the corporate bond 2020/2025

Frankfurt am Main - 14 September 2020 - The Management Board of Coreo AG resolved, with the approval of the Supervisory Board, to waive the issuance of the corporate bond 2020/2025 offered for subscription in a public offering and to reverse subscriptions already submitted.
The current placement volume of around 10 million euros, including the commitments of the anchor shareholders Christian Angermayer and alex schütz familienstiftung, does not meet expectations and, in the company's view, does not justify the administrative expense of a public bond.

However, the Management Board is conducting extensive talks with a well-known investor and the two anchor shareholders, who offered to provide the company with the entire bond volume of EUR 30 million. In the next few weeks, the terms and conditions are to be finalised and the bond will then be issued in a private placement.
Alongside the early redemption of the warrant bond 2018/2022 with a volume of EUR 15 million, this financing is intended to enable Coreo AG to acquire properties worth more than EUR 40 million in a timely manner, for which the company already has exclusivity.
 

End of ADHOC
 

About Coreo AG
Coreo AG, with headquarters in Frankfurt am Main, is a portfolio developer with a focus on German commercial and residential real estate. The real estate portfolio of existing and development properties forms the cornerstone of the company's three pillars of income: income from letting, sales and valuation. Investments are made in real estate with considerable potential for value appreciation with existing development needs, preferably in medium-sized centres and with a volume of EUR 5-20 million, as part of the value-creating growth strategy (sweet spot). The objective is to create an efficiently managed, high-yield real estate portfolio with a volume of EUR 400 - 500 million over the next few years by means of prudent development and the sale of non-strategic objects.

Important notes
This release is intended for information purposes only and does not constitute any offer to buy, sell, exchange or transfer any securities, nor a solicitation of an offer to purchase any securities of Coreo AG in the United States of America or any other jurisdiction. The above mentioned securities of Coreo AG were not and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements of the Securities Act. Neither the Company nor any other party to the aforementioned transaction is planning to register the securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States of America in conjunction with this announcement. Under no circumstances may the securities be offered in any jurisdiction in circumstances which would require the preparation or registration of a prospectus or offering circular in conjunction with the securities in that jurisdiction.
Except for certain exemptions under the Securities Act, the securities described in this announcement may not be sold or offered for sale in Australia, Canada, or Japan, or to or for the account or benefit of persons resident or domiciled in Australia, Canada, or Japan.
This release comprises future-related statements that are subject to certain risks and uncertainties. Due to various risk factors and uncertainties, including changes in business, economic and competitive conditions, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing, future results could differ materially from those currently anticipated. The Company assumes no responsibility to update the future-related statements contained in this release.

Contact:
Coreo AG
Andrea Glaab
Investor Relations
Grüneburgweg 18
D-60322 Frankfurt a. M.
[email protected]
T: +49 (0) 69-21 93 96-0