Gateway Real Estate AG: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution
Gateway Real Estate AG / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
Berlin, August 09, 2023. Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7) ("GATEWAY") is developing a real estate project in Mannheim through its subsidiary S8 Chelsea Quartier GmbH & Co. KG („S8“). For this purpose, S8 today concluded a general contractor agreement with NOKERA Construction GmbH („NOKERA“) for the turnkey construction of 14 residential buildings with a floor area (above ground) of approx. 16,000 m². The construction of the upper floors will be carried out in a serial hybrid timber construction. A lump-sum price in the mid-double-digit million euro range was agreed for the provision of all contractually owed services by NOKERA.
According to the assessment of the Management Board of GATEWAY, the conditions of the general contractor agreement are to be considered as standard market conditions.
NOKERA is a related party of GATEWAY according to Section 111a of the German Stock Corporation Act (AktG), as GATEWAY is controlled by Mr. Norbert Ketterer, the current majority shareholder and Chairman of the Supervisory Board of GATEWAY. In addition, the further member of the Supervisory Board of GATEWAY, Mr. Jan Hendrik Hedding, holds the position of a managing director at NOKERA. Against this background, Mr. Norbert Ketterer and Mr. Jan Hendrik Hedding did not participate in resolution of the Supervisory Board of GATEWAY regarding the conclusion of the general contractor agreement.
|Company:||Gateway Real Estate AG|
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