Reference is made to the stock exchange announcement published on 27 February 2020 by Pioneer Property Group ASA ("PPG") regarding the contemplated buy-back of own preference shares.
The following primary insiders, and close associates of primary insiders, of PPG have today sold preference shares in PPG to PPG at a purchase price of NOK 102 per preference share:
- Roger Adolfsen (chairman of the board of directors) has through his wholly owned company Mecca Invest AS sold 5,628 preference shares and Mecca Invest AS will, following the transaction, hold 1,417,852 ordinary shares and no preference shares in PPG, corresponding to 9.66% of the shares and 13.76% of the votes in PPG. In addition, Roger Adolfsen holds:
(i) 25% of the shares in Acea Properties AS, which directly and indirectly sold 20,857 preference shares in connection with the buy-back. Following the transaction, Acea Properties AS will directly and indirectly own no ordinary shares and no preference shares in PPG.
(ii) Approximately 46% of the shares in Hospitality Invest AS, which indirectly sold 752 preference shares in connection with the buy-back. Following the transaction, Hospitality Invest AS will directly and indirectly own 3,431,994 ordinary shares and no preference shares in PPG, corresponding to 23.37% of the shares and 33.32% of the votes in PPG).
Roger Adolfsen and Kristian Adolfsen will following the share buy-back directly and indirectly control 6,267,698 ordinary shares and no preference shares in PPG, corresponding to 42.7% of the shares and 60.84% of the votes in PPG.
- Even Carlsen (member of the board of directors) has through his wholly owned company Grafo AS sold 171,175 preference shares and will, following the transaction, hold 1,773,386 ordinary shares and no preference shares in PPG, corresponding to 12.08% of the shares and 17.22% of the votes in PPG. In addition, Even Carlsen holds 25% of the shares in Acea Properties AS, whose number of preference shares sold and remaining holding of shares, is described above.
For further information, please contact:
Ole-Kristofer Bragnes, CFO
Telephone: +47 917 03 415
E-mail: IR@pioneerproperty.no