Reference is made to the resolution for a rights issue in the annual
general meeting in Storm Real Estate ASA. In accordance with the
authorisation given by the general meeting, the Board has set the
subscription price in the rights offering to NOK 0.40 per share,
equivalent to the nominal value of the shares. The subscription
price has been set to the nominal value to ensure the best
probability for a full subscription of the rights offering. Updated
key information is included below:
Date on which the terms and conditions of the preferential rights
issue were announced: 20.04.2017
Last day including right: 6 June 2017
Ex-date: 7 June 2017
Record Date: 8 June 2017
Date of approval: 11 May 2017
Maximum number of new shares: 70,000,000
Subscription price: NOK 0.40 per share
Will the rights be listed - yes/no: Yes
Other information (optional): The update relates to the
number of shares and subscription price. The right offering is
conditional upon publication of a prospectus, expected to take place
on or about 12 June 2017. The Company has entered into guarantee
agreements implying a guaranteed subscription of up to 48.17% of the
planned rights offering of NOK 28 million. The Company will issue
3.8156200 subscription rights per share owned in the Company per 6
June 2017, as reflected in the VPS on 8 June 2017 (the record date).
1 Subscription Right entitles the holder to subscribe for and be
allocated 1 new share in the Company in the Rights Offering.
This information is published in accordance with the requirements of
the Continuing Obligations.