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FourWorld Capital Management LLC

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DGAP-News News vom 18.08.2020

FourWorld Capital requests clarity from TLG's management regarding its involvement with Aroundtown

DGAP-News: FourWorld Capital Management LLC / Key word(s): Miscellaneous/Miscellaneous
18.08.2020 / 15:00
The issuer is solely responsible for the content of this announcement.

FourWorld Capital, which holds slightly more than 2% in TLG Immobilien AG (ISIN DE000A12B8Z4), addressed the management board of TLG in two separate letters in April and August 2020. The letters are meant to elicit responses regarding certain events in connection with the takeover of TLG by Aroundtown SA. FourWorld Capital is concerned that TLG is already operating as a company affiliated under a domination agreement, even though, no such agreement has been implemented or announced.
 

FourWorld Capital requests that the management board of TLG provides answers on:

  • the exclusion/non-reinclusion of TLG in the SDAX despite a free float of more than 10%
  • the timeliness of the voting rights notification of a major shareholder
  • the considerable reduction in capital markets communications by TLG (for example, why did TLG fail to communicate the change in the management board that occurred in August 2020?)
  • the transition to the General Standard and late publication thereof (resolution on March 4, published on March 31, 2020)
  • the implications that follow from TLG drifting away from Aroundtown with regards to business developments and performance (considerably higher growth for TLG than for Aroundtown even when incorporating TLG)
  • the status of the implementation of expected synergies
  • the status of the implementation of the Business Combination Agreement

As a minority shareholder, FourWorld Capital intends to ensure that, as long as no domination agreement with Aroundtown exists, TLG is operated by its management board as an independent company in the best interests of the company and all of its shareholders. FourWorld Capital did not receive a reply to the April 2020 letter.
 

The letters from FourWorld Capital to TLG are available under https://www.fourworldcapital.com/tlgimmobilien-en.


Important notice:

This press release is for information purposes only, and the information contained herein does not constitute an offer to sell, or the solicitation of an offer to purchase or subscribe to any securities or other financial instruments in any jurisdiction. Similarly, it does not give and should not be treated as giving legal, tax, investment, financial, or other advice. The information in this press release has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipient as a substitute for exercise of their own judgement. The recipient alone assumes the sole responsibility of evaluating the merits and risks associated with the use of the information provided in this press release before making any decisions based on such information. All opinions expressed herein are subject to change without notice. The release, publication or distribution of this announcement in certain jurisdictions other than the Federal Republic of Germany may be restricted by law. Persons who are resident in, or are subject to, other jurisdictions should inform themselves of, and observe, any applicable requirements. Copies of this press release may not be made available (directly or indirectly) to any person in relation to whom the making available of this press release is restricted or prohibited by law or sent to countries, or distributed in or from countries, to, in or from which this is restricted or prohibited by law.


Contact:
FourWorld Capital Management LLC
7 World Trade Center, Floor 46
New York, NY 10007
United States of America
[email protected]



18.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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