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Pioneer Property Group ASA - Completes the initial public
offering of preference shares and fulfils the requirements
to list on Oslo Axess
Oslo, 18 June 2015 - Pioneer Property Group ASA ("PPG", the
"Company") announces the completion of the initial public
offering of preference shares as further described in the
Prospectus dated 3 June 2015 (the "Offering"). As a follow-
up to the successful pre-IPO private placement of 3.7
million preference shares with leading Scandinavian
institutional investors the Offering was carried out to
broaden the Company's shareholder base and secure the
minimum number of shareholders required to list on Oslo
Axess. To improve PPG's financial structure the Company has
over the past two months issued NOK 650m in preference
shares, allocated to internal and external investors through
the pre-IPO placement and the Offering.
A total of 668 714 preference shares were allotted in the
Offering, of which 503 500 of the preference shares were
allotted to investors in the institutional tranche and 165
214 of the preference shares were allotted to investors in
the retail tranches. Following completion of the Offering,
the Company will have in excess of 200 shareholders. The
condition set by the Board of Directors of Oslo Børs that
the company prior to the first day of listing of its
preference shares on Oslo Axess must satisfy the requirement
for the number of shareholders as set out in Section 2.4.2
of the Oslo Axess Listing Rules is accordingly satisfied.
The application period for the Offering expired at 12:00
(CET) on 17 June 2015 (retail tranches) and at 14:00 (CET)
on 17 June 2015 (institutional tranche).
The Board of Directors of the Company and the selling
shareholders have today approved the allocation of the
preference shares offered in the Offering in accordance with
the allocation criteria set out in the prospectus dated 3
June 2015 (the "Prospectus").
Notifications of allocated preference shares in the Offering
and the corresponding amount to be paid by each applicant
are expected to be distributed today. Payment for the
allocated preference shares falls due on 19 June 2015 for
the retail tranches and 22 June 2015 for the institutional
tranche in accordance with the payment procedures described
in the Prospectus.
The following table gives an overview of the preference
shares sold by each selling shareholder in the Offering and
the selling shareholders' ownership position following the
Offering.
The table below consists of the following: 1) Name of
shareholder, 2) No. of preference shares sold in the
Offering, 3) No of preference shares held following the
Offering, 4) % of voting rights in the Company following the
Offering (based on total holdings of preference shares and
ordinary shares), 5) % of share capital in the Company
following the Offering (based on total holdings of
preference shares and ordinary shares)
Hospitality Invest AS* 58714 0** 21.0% 14.7%
Kidprop AS* 176718 0 0% 0%
Acea Properties AS* 344933 36686 0.04% 0.22%
Kidsa Drift AS* 88349 0 0% 0%
Norlandia Care Group AS* 0 869369 19.6% 17.4%
Eidissen Consult AS 0 227002 13.8% 10.1%
Grafo AS 0 227002 13.8% 10.1%
Klevenstern AS* 0 185232 13.7% 9.8%
Mecca Invest AS* 0 185232 13.7% 9.8%
PCP AS* 0 185333 0.2% 1.1%
* Companies controlled by Roger Adolfsen (Chairman of the
board of directors) and/or Kristian Adolfsen.
**In addition to the preference shares sold in the Offering,
Hospitality Invest AS has transferred 215 430 preference
share to its 100% owned subsidiary HI Capital AS. These
shares are included in the calculation of ownership% and
voting% for Hospitality Invest AS.
There are no changes to the holdings of ordinary shares from
what was disclosed in the Prospectus. None of the selling
shareholders hold any rights to preference shares or rights
to ordinary shares in the Company.
Trading in the preference shares of Pioneer Property Group
ASA on Oslo Axess is expected to commence on 19 June 2015.
Please refer to the Prospectus for further information about
the Offering.
Enquiries
Martin P. Hoff, CFO - +47 47214721
www.pioneerproperty.no
This information is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.