Shareholder Disclosure / notification of trade by
primary insider - change in large shareholdings in
Pioneer Property Group ASA
Date: 23 December 2015
As part of an internal restructuring of ownership,
Hospitality Invest AS has on 23 December 2015 in a
private transaction sold 160,105 preference shares in
Pioneer Property Group ASA (PPG PREF) at a price of
NOK 100 per share. HI Capital AS, a fully owned
subsidiary of Hospitality Invest AS, has sold 39,895
preference shares in the same transaction at a price
of NOK 100 per share.
The buyers of the shares are the main shareholders of
Hospitality Invest AS; Klevenstern AS (controlled by
Kristian A. Adolfsen) and Mecca Invest AS (controlled
by Roger Adolfsen) with equal split among the buyers.
Roger Adolfsen holds the position as Chairman of the
Board of Pioneer Property Group ASA and is defined as
primary insider subject to disclosure duties under the
Norwegian Securities Trading Act Section 4-2 . Roger
Adolfsen (on a consolidated basis) holds no shares in
Pioneer Property Group ASA apart from the shares held
through Mecca Invest AS (which owns such shares
directly and indirectly through Hospitality Invest AS
with subsidiaries).
Following the transaction, the seller Hospitality
Invest AS is no longer a direct owner of any
preference shares in Pioneer Property Group ASA, but
continues to hold 1,945,457 shares representing 19.8%
of the outstanding ordinary shares. The other seller
HI Capital Invest continues to hold 181,466 preference
shares (2.79%) and 230,068 (2.34%) of the ordinary
shares.
As a result of the transaction, the sellers and
buyers also cross certain thresholds as referred to
in the Norwegian Securities Trading Act Section 4-3:
Hospitality Invest AS' consolidated group ownership of
preference shares (also including shares held by its
subsidiaries HI Capital AS and Norlandia Care Group
AS) is reduced from 990,835 shares (15.24%) to 790,835
shares (12.17%). The consolidated group's ownership of
ordinary shares remains at 4,143,062 shares (42.21%)
while its combined ownership of ordinary shares and
preference shares is reduced from 5,133,897 shares
(41.47%) to 4,993,897 shares (30.24%). These figures
include that Hospitality Invest AS and HI Capital AS
have a combined ownership of 181,466 preference
shares, which reduces the combined ownership from
5.87% to 2.79%. The transaction also reduces these two
entities' combined ownership of ordinary and
preference shares from 2,556,991 (15.67%) to 2,356,991
(14.45%).
Following the transaction, the buyers Klevenstern AS
and Mecca Invest AS each holds 1,417,852 ordinary
shares (14.55%) and 285,232 preference shares (4.39%).
Total shareholding for Klevenstern AS ends at
1,703,084 (10.44%), up from 1,603,084 (9.83%).
Correspondingly, total shareholding for Mecca Invest
AS ends at 1,703,084 (10.44%), up from 1,603,084
(9.83%).
Pioneer Property Group ASA has a total of 9,814,470
ordinary shares outstanding, representing 93.8% of the
company's voting rights. There are a total of
6,500,000 preference shares outstanding, each carrying
1/10 voting rights and in total representing 6.2% of
all voting rights.
For additional information, contact:
Kristoffer Lorck, CFO: +47 93 02 88 18