On 7 May 2021, the Annual General Meeting in Genova Property Group AB (publ) (”Genova” or the ”Company”) resolved on a redemption of all of the Company’s preference shares in accordance with a redemption clause in the Company’s Articles of Association. The record date for the redemption was set to 9 June 2021.
The Annual General Meeting’s resolution was conditional upon that the bondholders of the Company’s outstanding bonds 2020/2024 with ISIN SE0014808820 and bonds 2019/2023 with ISIN SE0013222593 approved the redemption of the preference shares not later than 27 May 2021 in accordance with the written procedures initiated by the Company on 6 April 2021. The bondholders of the Company’s outstanding bonds 2019/2023 with ISIN SE0013222593 approved the Company’s redemption of the preference shares in a written procedure concluded on 30 April 2021. The bondholders of the Company’s outstanding bonds 2020/2024 with ISIN SE0014808820 approved the Company’s redemption of the preference shares in a written procedure concluded on 27 May 2021.
Genova has thereafter applied for a de-listing of the preference shares with a proposed last day of trading on 7 June 2021. Genova has now been informed that Nasdaq has approved the Company’s application for de-listing and decided that the last day of trading in Genova’s preference shares on Nasdaq Stockholm will be 7 June 2021.
The redemption procedure in brief:
- The redemption amount is SEK 130.70 per redeemed preference share including the accrued portion of the preference dividends calculated in accordance with the Articles of Association. The redemption proceeds will total SEK 522,800,000.
- The record date for the redemption is 9 June 2021.
- The redemption procedure is carried out automatically, meaning that the preference shareholders do not need to take any action. Payment will be made to the bank account linked to each preference shareholder’s securities account. For shareholders who have their preference shares registered with a bank or other nominee, payment will be made according to each respective nominee’s routines.
- Payment of the redemption amount is expected to take place on 14 June 2021.
- Shareholders who wish to divest their preference shares should note that the last day of trading in the preference shares is 7 June 2021.
For further information, please contact:
CEO, Michael Moschewitz, mobile +46 (0)707 13 69 39, firstname.lastname@example.org
Genova Property Group AB (publ) is a modern property company with a personal touch that owns, manages and develops properties with a focus on Greater Stockholm and the Uppsala Region. On 31 March 2021, the value of the Company’s property portfolio amounted to approximately SEK 6.6 billion with a lettable area of approximately 230,000 sqm and the Company held 6,319 building rights for residential units. Genova’s preference shares and ordinary shares have been listed on Nasdaq Stockholm since 12 June and 30 June 2020, respectively.
The information was submitted for publication, through the agency of the contact person set out above, on 28 May 2021 at 16.00 CEST.
Genova Property Group – Smålandsgatan 12 – SE-111 46 Stockholm – www.genova.se