Essen, 28 August 2018: Instone has successfully completed the conversion of its legal form into a stock corporation under German law (Aktiengesellschaft) as per the resolution passed by the Annual General Meeting at the end of June. The Management Board and the Supervisory Board gave the green light for this on 10 August 2018, among other things due to the positive binding tax rulings received from the German tax authorities. The conversion took effect on 28 August 2018 when it was entered in the commercial register. The listed residential development company now operates under the name of Instone Real Estate Group AG and its registered office is in Essen.
Kruno Crepulja, CEO of Instone Real Estate: “By changing our legal form, we have completed an important part of our corporate strategy. Our focus is on Germany’s residential real estate market so it just makes sense that we continue on our chosen path towards becoming the leading residential development company in Germany as a German stock corporation. This strategy is confirmed by the unanimous decision of the Annual General Meeting on the conversion and the trust our shareholders have placed in us by making that decision.”
Instone Real Estate
c/o RUECKERCONSULT GmbH
Tel.: 030 2844987-61