Grand City Properties S.A. Supports Exchange Offer by Aroundtown

Grand City Properties S.A. (GCP) announced that its Board of Directors has issued a reasoned statement recommending shareholders accept a voluntary public exchange offer from Aroundtown SA. The offer proposes exchanging up to 47,451,773 GCP shares for Aroundtown shares at a ratio of 4 to 1, representing about 26.9% of GCP's total share capital. The acceptance period began on March 6 and concludes on April 9, 2026.

The Board's recommendation is based on a Fairness Opinion from an independent financial adviser, deeming the offer financially fair. The Board unanimously supports the offer as it presents a solid investment opportunity for GCP shareholders, offering a fair premium. Management holding GCP shares has also chosen to accept the offer.

Shareholders are urged to consult the Reasoned Statement and Offer Document available on GCP's website and are advised to seek independent tax and legal advice before making a decision.