Grand City Properties Supports Aroundtown's Voluntary Exchange Offer

Grand City Properties S.A. (GCP) has released a statement from its board of directors recommending shareholders to accept a voluntary exchange offer from Aroundtown SA. The proposal involves exchanging up to 47,451,773 GCP shares, approximately 26.9% of the company's total share capital, for Aroundtown shares at a ratio of 4-to-1. The acceptance period began on March 6, 2026, and ends on April 9, 2026.

The board of directors has reviewed the offer terms with an independent financial adviser and considers the offer fair. Highlighting a strategic and economic opportunity, the board unanimously supports the offer. Existing board and management members who own shares have also accepted the offer.

GCP urges shareholders to consult the detailed Reasoned Statement and Offer Document before making decisions and suggests seeking independent tax and legal advice if needed.