Oslo, 20 May 2025: Public Property Invest ASA ("PPI" or the "Company") today
announces that it has completed the acquisition of the portfolio of eight
mission critical industrial infrastructure assets from TRG Real Estate AS
("TRG") in exchange for 124,398,074 new ordinary shares in PPI to be issued at
a subscription price of NOK 18.69 per share in three traches (the
"Transaction"), which was announced on 13 May 2025.
The issuance of 30,524,657 of the consideration shares (the "Tranche 1
Shares") was resolved by the board of directors of the Company (the "Board")
on 16 May 2025, as announced on such date. The Board has today further
resolved to increase the share capital through the issuance of 43,956,920 new
shares pursuant to the authorizations to increase the share capital of the
Company granted by the Company's general meeting on 16 May 2025 (the "Tranche
2 Shares").
The Tranche 1 Shares and Tranche 2 Shares were subscribed by TRG at closing.
As further described in the stock exchange announcement of 13 May 2025, TRG
has transferred its right to receive 16,314,850 of the Tranche 1 Shares and
23,494,139 of the Tranche 2 Shares to SBB I Norden AB ("SBB I Norden"), which
is an indirect wholly-owned subsidiary of Samhällsbyggnadsbolaget i Norden AB,
and the right to receive the remaining 14,209,807 Tranche 1 Shares, 20,462,781
Tranche 2 Shares and all the Tranche 3 Shares (as defined below) to Aker
Property Group AS (through its subsidiary APG Invest AS) ("APG"), a wholly
owned subsidiary of Aker ASA. Consequently, the Tranche 1 Shares and Tranche 2
Shares will, upon issue, be delivered directly to SBB I Norden and APG. Upon
issuance of the Tranche 1 Shares and the Tranche 2 Shares, SBB I Norden will
own approximately 39.23% of the shares in the Company, while APG will own
11.78% of the shares in the Company. Please refer to the attached PDMR Form
for further details.
The share capital increase related to the issuance of the Tranche 1 Shares and
Tranche 2 Shares are expected to be registered with the Norwegian Register of
Business Enterprises (the "NRBE") on or about 21 May 2025. Following the
registration of the share capital increase with the NRBE, the Tranche 1 Shares
will be issued under PPI's regular ISIN NO0013178616 and will be immediately
tradeable on Euronext Oslo Børs upon issue. The Tranche 2 Shares and the
Tranche 3 Shares will be issued on a separate interim and unlisted ISIN,
pending the approval by the Financial Supervisory Authority of Norway of a
listing prospectus for such shares (the "Prospectus"). Following approval of
the Prospectus, the Tranche 2 Shares and the Tranche 3 Shares will be
transferred to PPI's regular ISIN and become tradeable on Euronext Oslo Børs.
The issuance of the remaining 49,916,497 consideration shares under the
Transaction (the "Tranche 3 Shares") is subject to approval by the general
meeting of the Company. In order to (i) approve the share capital increase for
the issuance of the Tranche 3 Shares), (ii) elect new members to the Board,
and (iii) grant the Board new authorizations to increase the share capital in
order to raise equity and in connection with acquisitions, the Board hereby
calls for an extraordinary general meeting to be held on Tuesday 10 June 2025
at 10:00 hours (CEST) as a digital meeting (the "EGM"). The notice and agenda
of the EGM is attached to this stock exchange announcement and will be sent to
all shareholders with known addresses. The notice will also be made available
on the Company's website: Public Property Invest | Investor relations
(https://www.publicproperty.no/en/investor-relations). Assuming that the
issuance of the Tranche 3 Shares is approved by the EGM, APG will hold 24.58%
of the shares in the Company and SBB I Norden AB will own 33.54% of the
shares.
For more information, please contact:
André Gaden, CEO
Email: andre@publicproperty.no
Tel: +47 930 37 322
This information is subject to the disclosure requirements in Section 5-12 of
the Norwegian Securities Trading Act and article 19 of Regulation EU 596/2014
(the EU Market Abuse Regulation).