THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS

GRAND CITY PROPERTIES ANNOUNCES DIVIDEND OF EUR 0.8238 (GROSS) PER SHARE AND SCRIP DIVIDEND

25 June 2020

Grand City Properties S.A. (the 'Company') announces that its shareholders resolved at the annual general meeting on 24 June 2020 the distribution of a dividend of EUR 0.8238 (gross) per share to the holders of record in the security settlement systems on 26 June 2020 (Ex-Date: 25 June 2020). The cash dividend is expected to be paid on 14 July 2020. In addition, all other items on the agenda at the annual general meeting were approved.

The Company is also providing shareholders with the option to receive their dividend through a Scrip Dividend. From 25 June 2020, following the publication of the subscription offer, to 7 July 2020 (inclusive), shareholders of the Company may elect to receive their dividend paid out in cash, in the form of new shares of the Company (the 'Scrip Dividend'), or in cash for a portion of their shares and as Scrip Dividend for the other portion of their shares. Shareholders who do not elect to participate in the Scrip Dividend will receive their dividend in cash.

The subscription price and the subscription ratio of the new shares in connection with the Scrip Dividend is expected to be announced after the close of trading on 2 July 2020, and the new shares resulting from the Scrip Dividend are expected to be delivered on 20 July 2020.
Further information regarding the subscription offer and the resolutions of the annual general meeting of shareholders is available at .

About the Company

The Company is a specialist in residential real estate, value-add opportunities in densely populated areas primarily in Germany. The Company's strategy is to improve its properties by repositioning and intensive tenant management, and then create value by subsequently raising occupancy and rental levels. Further information:

Grand City Properties S.A. (ISIN: LU0775917882) is a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 1, Avenue du Bois, L-1251 Luxembourg, Grand Duchy of Luxembourg and being registered with the Luxembourg trade and companies register (Registre de Commerce et des Sociét�