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Share Name Share Symbol Market Type Share ISIN Share Description
Summit Germany LSE:SMTG London Ordinary Share GG00BJ4FZW09 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.015 € +1.26% 1.205 € 1.18 € 1.23 € 1.205 € 1.19 € 1.19 € 30,000 11:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 60.5 128.7 21.6 5.6 551.02

Summit Germany Limited Potential IPO of subsidiary

14/01/2019 3:00pm

UK Regulatory (RNS & others)


Summit Germany (LSE:SMTG)
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RNS Number : 0461N

Summit Germany Limited

14 January 2019

Summit Germany Limited

("Summit")

Potential IPO of subsidiary

Summit announces that it is considering a private placement and listing of shares in Summit Luxco S.à r.l. ("Luxco") on the regulated market of the Frankfurt Stock Exchange (Prime Standard) in 2019, subject to market conditions.

Luxco currently is a wholly-owned subsidiary of Summit and holds all of its German real estate assets, including asset and property management operations. Summit is considering the listing to provide investors with the opportunity to invest in Summit's German real estate business and to facilitate Luxco's growth in Germany through the execution of its existing development pipeline and additional acquisitions of commercial real estate properties.

Going forward, Summit will seek to diversify its real estate business and pursue investment opportunities throughout Continental Europe and other markets.

Summit intends to retain its quotation on the AIM market of the London Stock Exchange and continue to be a major shareholder of Luxco.

Further announcements will be made as appropriate.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

For further information please contact:

 
Summit Germany Limited                         Tel: +44 (0) 1481 700 300 
Zohar Levy - Managing Director 
Itay Barlev (Braun) - Finance Director 
 
Non-Executive Chairman                         Tel: +44 (0) 20 7451 7050 
Harry Hyman 
 
Carey, Company Secretary                       Tel: +44 (0) 1481 700 300 
Sara Bourne 
 
Liberum Capital Limited, Nominated Adviser     Tel: +44 (0) 20 3100 2222 
 and Joint Broker 
Chris Clarke / Gillian Martin / Owen Matthews 
 
Cenkos Securities, Joint Broker                Tel: +44 (0) 20 7397 8900 
Mark Connelly 
Russell Kerr / Selwyn Jones (Broking) 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 14, 2019 10:00 ET (15:00 GMT)

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