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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

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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.

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