DEMIRE Deutsche Mittelstand Real Estate AG: Majority shareholders aim for the distribution of a substantial dividend for the financial year 2020

DEMIRE Deutsche Mittelstand Real Estate AG: Majority shareholders aim for the distribution of a substantial dividend for the financial year 2020

Langen, 04 March 2021 - Today, DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has received letters from its majority shareholders, AEPF III 15 S.à r.l. ("Apollo") and Wecken-Group. In these letters, the majority shareholders inform the Executive Board of the Company that, due to the uncertain investment climate and the still high level of liquidity - as already for the 2019 financial year - they are seeking the payment of a substantial dividend for the 2020 financial year in the amount of the accumulated profit.

According to preliminary, still unaudited figures, the accumulated profit for 2020 amounts to approximately EUR 65 million.
As of 28 February 2021, the company had cash and cash equivalents of approximately EUR 117 million and has additional contractually agreed loan commitments of EUR 51 million. The Company is also expecting to have sufficient cash to pay such a dividend at the time of the Annual General Meeting, which is planned on 28 April 2021.

Apollo holds approximately 58.6% and the Wecken-Group approximately 32.1% of the voting rights in the Company. The Company assumes that the majority shareholders will exercise its voting rights at the Annual General Meeting in favour of such dividend payment.

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