Aroundtown seeks convertibles holders’ consents to transfer seat

By Wendy Van Sickle

Columbus, Ohio, May 4 – Aroundtown Property Holdings plc launched a consent process for holders of of its €450 million 3% convertible bonds due 2020 and its €300 million 1.5% convertible bonds due 2021, seeking approval for the change of seat of Aroundtown to the Grand Duchy of Luxembourg and its continuance as a Luxembourg company.

The launch of the consent process follows shareholder approval of the change, according to a notice.

“Aroundtown believes that the proposed migration will benefit the company and its group, as it is believed that the migration will enhance the visibility and tradability of Aroundtown's shares and will further support the entry into various stock indices in conjunction with the intended up-listing of Aroundtown's shares to an EU-regulated market,” the notice states.

The issuer is a Larnaca, Cyprus-based real estate holding company.

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