Ad hoc announcement according to article 53 KR
Peach Property Group AG: Application of Ares Mgmt Corp regarding the exemption from the offer obligation in relation to Peach Property Group AG
Zürich (pta024/05.01.2023/19:00 UTC+1)
Ad hoc announcement pursuant to Art. 53 LR
Not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Italy, Canada, South Africa, Japan or Australia or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measures.
Peach Property Group AG: Application of Ares Management Corporation regarding the exemption from the offer obligation in relation to Peach Property Group AG
By submission dated 14 December 2022, the shareholder of Peach Property Group AG, Ares Management Corporation, filed a request with the Swiss Takeover Board regarding the exemption from the obligation to make an offer in connection with the issuance of mandatory convertible bonds by Peach Property Finance GmbH, a group company of the Peach Property Group. For information on the background of the procedure and the application of Ares Management Corporation, please refer to the decision of the Takeover Board dated 4 January 2023 (published on www.takeover.ch).
Decision of the Swiss Takeover Board
In its decision of 4 January 2023 (published on www.takeover.ch), the Swiss Takeover Board has decreed the following:
- Ares Management Corporation, Peak Investment S.à r.l, as well as the relevant group companies of Ares Management Corporation and the funds managed by them, are exempt from the obligation to make a public takeover offer as a result of the conversion of the guaranteed senior unsecured mandatory convertible bonds into new shares of Peach Property Group AG. This exemption from the obligation to make an offer is granted on the condition that (i) the new shares of Peach Property Group AG created following the conversion of the mandatory convertible bonds are registered in the commercial register within 3 months after the conversion of the mandatory convertible bonds; and that (ii) in the time of the threshold exceedance no substantial influence is exerted on Peach Property Group AG through the abovementioned companies and funds.
- Ares Management Corporation is additionally obliged to inform the Takeover Board about the timing and the details of the conversion of the mandatory convertible bonds as well as the timing and the details of the registration of the created share capital in the commercial register following the conversion of the mandatory convertible bonds within a time of 5 stock exchange days.
- Peach Property Group AG is obliged to publish the operative part (Dispositiv) of this order as well as the reference to the right of qualified shareholders to object pursuant to art. 6 and 7 TOO.
- This order will be published on the website of the Takeover Board after the publication of Peach Property Group AG in accordance with paragraph 3 above.
- The fee payable to Ares Management Corporation amounts to CHF 20,000.
Objection (art. 58 TOO)
A qualified shareholder may file an objection against the Takeover Board's decision. The objection must be filed with the Takeover Board (Stockerstrasse 54, 8002 Zurich; fax: +41 44 283 17 40) within five (5) trading days from the date of publication of the decision of the Takeover Board. The first trading day after the publication of the decision of the Takeover Board on the Takeover Board's website will be the first day of the filing period. The objection must contain a motion, summary reasons and proof of the qualified participation as from the date of this notice.
Zurich, 5 January 2023
Peach Property Group AG
Contact:
Media, investors, and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer, Thorsten Arsan, Chief Financial Officer, and Stefan Feller, Head of Investor Relations
+41 44 485 50 18 | investors@peachproperty.com
Media Germany
Edelman Smithfield, Ruediger O. Assion
+49 (0) 221 8282 8111 | mobile: +49 (0) 162 4909624 | ruediger.assion@edelmansmithfield.com
About Peach Property Group AG
The Peach Property Group is a real estate investor with an investment focus on residential rental properties in Germany. The Group stands for many years of experience, competence and quality. Innovative solutions for state-of-the-art living needs, strong partnerships and a broad value chain round off the profile. The portfolio consists of high-yield portfolio properties, typically in B-cities in the catchment area of conurbations. In addition, the Group develops real estate for its own portfolio or for condominium marketing. In the latter area, the Group concentrates on A locations and properties with attractive architecture and upscale furnishings for an international clientele. Its activities span the entire value chain from evaluating locations through to acquisitions and also active asset management and property sales or lettings.
Peach Property Group AG has its registered office in Zurich and the Group is headquartered in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati, Kurt Hardt and Klaus Schmitz.
More information at https://peachproperty.com/en/
Information en français
Annonce ad hoc selon l'art. 53 RC
Not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Italy, Canada, South Africa, Japan or Australia or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measures.
Peach Property Group AG: Requête d'Ares Management Corporation concernant la dérogation de présenter une offre publique d'achat (OPA) obligatoire concernant Peach Property Group AG
Par envoi du 14 décembre 2022, un actionnaire de Peach Property Group AG, Ares Management Corporation, a déposé une demande auprès de la Commission des OPA [« Swiss Takeover Board »] concernant la dérogation de l'obligation de présenter une offre publique d'achat dans le contexte de l'émission d'obligations convertibles en actions de par Peach Property Group Finance GmbH, une société du groupe de Peach Property Group. Pour de plus amples informations sur le contexte de la procédure et de la demande de dérogation d'Ares Management Corporation, veuillez vous référer à la décision de la Commission des OPA en date du 4 janvier 2023 (publiée sur www.takeover.ch).
Décision de la Commission des OPA
Dans sa décision du 4 janvier 2023 (publiée sur www.takeover.ch), la Commission des OPA a décidé ce qui suit:
1. Ares Management Corporation, Peak Investment S.à r.l ainsi que les sociétés du groupe Ares Management Corporation et les fonds qu'elles gèrent, sont exemptés de l'obligation de faire une offre publique d'achat à la suite de la conversion d'obligations convertibles subordonnées non garanties (Pflichtwandelanleihe) en nouvelles actions de Peach Property Group AG. Cette dérogation de l'obligation de présenter une offre est accordée à condition que (i) les actions nouvellement créées de Peach Property Group AG à la suite de la conversion d'obligations convertibles soient inscrites au registre du commerce dans les 3 mois suivant leur conversion ; et que (ii) au moment du dépassement du seuil, aucune influence substantielle ne soit exercée sur Peach Property Group AG par l'intermédiaire des sociétés et fonds susmentionnés.
2. Ares Management Corporation est également tenue d'informer la Commission des OPA du calendrier et des modalités de la conversion d'obligations convertibles en actions ainsi que du moment et des modalités de l'inscription au registre du commerce du capital social créé à la suite de la conversion d'obligations convertibles dans un délai de 5 jours boursiers.
3. Peach Property Group AG est tenue de publier le dispositif de la présente décision conformément aux art. 6 et 7 OOPA.
4. La présente décision sera publiée sur le site internet de la Commission des OPA après la publication par Peach Property Group AG conformément à l'alinéa 3 du présent dispositif.
5. L'émolument à charge de Ares Management Corporation s'établit à CHF 20 000.
Opposition (art. 58 OOPA)
Un actionnaire qualifié peut former opposition contre la décision de la Commission des OPA. L'opposition doit parvenir à la Commission (Stockerstrasse 54, 8002 Zurich; fax: +41 44 283 17 40) dans un délai de cinq jours boursiers à compter de la date de publication de sa décision. Le premier jour de bourse après la publication de la décision de la Commission sur son site Internet sera le premier jour du délai. L'opposition doit contenir une requête et un motif sommaire ainsi que la preuve de la participation qualifiée dès la date de son dépôt.
Zurich, le 5 janvier 2023
Peach Property Group AG
Contact:
Media, investors, and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer, Thorsten Arsan, Chief Financial Officer, and Stefan Feller, Head of Investor Relations
+41 44 485 50 18 | investors@peachproperty.com
Media Germany
Edelman Smithfield, Ruediger O. Assion
+49 (0) 221 8282 8111 | mobile: +49 (0) 162 4909624 | ruediger.assion@edelmansmithfield.com
About Peach Property Group AG
The Peach Property Group is a real estate investor with an investment focus on residential rental properties in Germany. The Group stands for many years of experience, competence and quality. Innovative solutions for state-of-the-art living needs, strong partnerships and a broad value chain round off the profile. The portfolio consists of high-yield portfolio properties, typically in B-cities in the catchment area of conurbations. In addition, the Group develops real estate for its own portfolio or for condominium marketing. In the latter area, the Group concentrates on A locations and properties with attractive architecture and upscale furnishings for an international clientele. Its activities span the entire value chain from evaluating locations through to acquisitions and also active asset management and property sales or lettings.
Peach Property Group AG has its registered office in Zurich and the Group is headquartered in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati, Kurt Hardt and Klaus Schmitz.
More information at https://peachproperty.com/en/
(end)
| Emitter: |
Peach Property Group AG Neptunstrasse 96 8032 Zürich Switzerland |
|
|---|---|---|
| Contact Person: | Thomas Wolfensberger, Thorsten Arsan and Stefan Feller | |
| Phone: | +41 44 485 50 00 | |
| E-Mail: | investors@peachproperty.com | |
| Website: | www.peachproperty.com | |
| ISIN(s): | CH0118530366 (Share) | |
| Stock Exchange(s): | SIX Swiss Exchange; Free Market in Berlin, Frankfurt, Stuttgart |