Potential IPO of subsidiary

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: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey, Company Secretary	Tel: [phone]
Sara Bourne
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Gillian Martin / Owen Matthews
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)

 

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