On our own behalf:

1. Cooperation with financial investor

CGRE AG is in talks with various institutional investors. In this context, a term sheet has been signed with an international investor. This agreement covers cooperation on projects with a total volume of €505 million. These include the StadtLandHavel project in Berlin, Greenville in Karlsruhe and other projects in Munich, Leipzig and Berlin.

2. CGRE AG 2024 annual financial statements

The 2024 annual financial statements are the first financial statements following a capital increase through contributions in kind. The volume of contributions in kind is significant and consists of projects in individual companies, each of which must be restructured and assessed.

The financial statements of CGRE AG itself have already been prepared, but the audit process has exceeded the initial schedule due to increased complexity, holiday periods and staff shortages. The final publication is scheduled for the end of October.

3. Investments

The investment values of insolvent companies are reported accordingly reduced in the financial statements of CGRE AG. The resulting losses are offset in the balance sheet by the sufficiently high reserves.

In addition, positive value developments materialised in one of the remaining investments during the course of the financial year. When these were contributed, a possible third-party security was deducted from the contribution value for reasons of commercial prudence.

The reason for the claim has been completely resolved, so that a corresponding increase in the investment value can offset and even slightly overcompensate for the loss from the investments in the insolvent companies.

We therefore do not expect any changes in the value of the contribution in kind.

With regard to the ‘Wohnen an der Strunde’ investment, we are still aiming to structure closed financing for the project development. Once this has been achieved, the project will be continued and completed. Until then, the investment is reported at £1 in the balance sheet.

4. Capital increase

CGRE AG is a publicly traded company with a market capitalisation of €75 to €90 million and 6 million shares issued. The company has additional authorised capital of 3 million shares. The planned capital increase will further significantly increase the balance sheet equity.