Heuking Advises CR Capital on Stock Dividend and Rights Issue
January, 2021 - Germany
A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised CR Capital AG on stock corporation law in connection with the distribution of a stock dividend and an associated rights issue. In addition, CR Capital AG was advised on the transaction by Munich-based law firm Velte Kalveram with a team led by Peter Kalveram, who regularly advises the company.
On December 10, 2020 CR Capital AG’s annual meeting resolved the distribution of a dividend of EUR 0.75 per no-par value share entitled to distribution. Shareholders were able to choose whether the dividend should be distributed either exclusively in cash or as a stock dividend, i.e., only for a base dividend portion of EUR 0.21 per share in cash and for the remaining pro-rated dividend entitlement of EUR 0.54 per share in the form of company shares. A rights issue from authorized capital was subsequently carried out to create the shares required for the stock dividend.
Berlin-based CR Capital AG is a listed investment house that holds and develops companies along the entire real estate value chain. The company projects affordable housing in the suburbs of Berlin and Leipzig for a wide target group of resident owners as well as private and institutional investors.
Counsel to CR Capital AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets), Cologne
Meike Dresler-Lenz,
Dr. Gero Lingen (both Capital Markets), both Cologne
