Oslo, 23 December 2020
Reference is made to announcements by Storm Real Estate ASA («Storm Real Estate» or the «Company») in connection with the combination with KMC Properties AS («KMC») (the "Transaction") completed on 20 December 2020.
The Transaction includes acquisition of 4 properties in the Netherlands by a subsidiary of KMC. As partial settlement of this acquisition, the seller, Synbra B.V., has issued a seller's credit of NOK 59 999 996, which in connection with the completion of the acquisition today has been transferred to the Company, and subsequently converted to share capital through issuance of 8 571 428 new shares in the Company to Synbra B.V. at a subscription price of NOK 7 per share. The shares have been resolved issued pursuant to authorisation by the extraordinary general meeting on 18 December 2020.
Following this, the Company's share capital will be 48,153,062.2, divided on 240,765,311 shares with a nominal value of NOK 0.2 each.
The new shares will be placed on a separate ISIN (ISIN NO 0010915101) and not be tradable on Oslo Børs pending (i) expiry of the offer period under the mandatory offer described in the stock exchange notices published on 17 November 2020 and 22 December 2020 (the "Mandatory Offer") and (ii) approval of a prospectus to be published by Storm Real Estate. The new shares are not comprised by the Mandatory Offer.
For further information, please contact:
Charlotte Knudsen, tel. +47 9756 1959
Kristoffer Holmen, tel. +47 928 14 862
About Storm Real Estate ASA
Storm Real Estate ASA is a Norway-based investment company active in the real estate sector. The company is quoted on the main list at the Oslo Stock Exchange (ticker STORM).
About KMC Properties AS
KMC Properties is a real estate company focusing on industrial- and logistic properties. The company has a diversified real estate portfolio consisting of 39 properties in the Nordics and in the Netherlands. The properties have long lease agreements (WAULT of approx. 11.8 years) with solid tenants, strategically located to key customers and key areas for the tenants. KMC Properties has a portfolio value of approximately NOK 3 billion and an ambitious strategy to grow the portfolio. The company will grow through both expansion and development of existing properties, as well as M&A initiatives.
This information is subject of the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act.