Grand City Properties S.A. / LU0775917882

Grand City Properties S.A. suspending 2023 dividend payout as elevated uncertainties in markets remain

EQS-Ad-hoc: Grand City Properties S.A. / Key word(s): Dividend/Strategic Company Decision


12-March-2024 / 20:28 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (market abuse regulation – MAR) Luxembourg, 12 March 2024 - The Board of Directors (the “Board”) of Grand City Properties S.A. (the “Company” or “GCP”) has decided today not to recommend a dividend payment for 2023 at the Company’s annual general meeting scheduled for 26 June 2024. The decision was taken as market uncertainties remain elevated and visibility on the full impact on leverage, transaction markets, valuation as well as on the cost of financing remain limited. GCP’s management believes that in the current market environment it is more prudent to be conservative in terms of capital and liquidity preservation while the Company continues to focus on deleveraging. Contact Michael Bar-Yosef
T: [phone]
E: [e-mail]
www.grandcityproperties.com Important information: This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities mentioned in this announcement have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. If any announcements in this document contain forward-looking statements, such statements do not represent facts and are characterized by the words 'will', 'expect', 'believe', 'estimate', 'intend', 'contemplate', 'aim', 'assume' or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of Grand City Properties S.A. and the persons acting together with Grand City Properties S.A.. Such forward-looking statements are based on current plans, estimates and forecasts which Grand City Properties S.A. and the persons acting together with Grand City Properties S.A. have made to the best of their knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by Grand City Properties S.A. or the persons acting together with Grand City Properties S.A.. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.        

End of Inside Information

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12-March-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Grand City Properties S.A.
	37, Boulevard Joseph II
	L-1840 Luxembourg
	Luxemburg
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	grandcityproperties.com
ISIN:	LU0775917882, LU0775917882 , XS1491364953, XS1811181566, XS2271225281, XS1220083551, XS1654229373, XS1706939904, XS1706939904, XS1763144604, XS1781401085, CH0401956872, XS1827041564, XS1851265527, XS1953786222, XS1964638446, CH0482172415, XS2016885159, XS2033380820, XS2035328223, XS2154325562, XS2282101539,
WKN:	A1JXCV , A1ZRRK, A1ZW4K, A1ZZ49, A186BF, A18YJ1, A19ZQE, A19MBW, A1V4P0, A19WVU, A19WU2
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Dublin, Luxembourg Stock Exchange, SIX
EQS News ID:	1857181

End of Announcement	EQS News Service

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1857181  12-March-2024 CET/CEST