Alma Media carries out office and production facility redemption in Tampere
Alma Media Corporation Stock exchange release 30 October 2017 at 2.45 p.m.
ALMA MEDIA CARRIES OUT OFFICE AND PRODUCTION FACILITY REDEMPTION IN TAMPERE
On 24 October 2016 Alma Media gave notice of the interruption option included in the rental agreement for the office and production facility in its use and its intention to redeem the property from DNB Bank ASA on Patamäenkatu 7 in Tampere. The property transaction, which is estimated at EUR 14.5 million, was carried out according to the earlier announcement on 30 October 2017.
The property is Aamulehti’s old office and printing facility, and it is currently fully rented out. The lease ratio of the property is currently 90 per cent. The gross leasable area of the property is 18,500 sqm. The property will be classified as an investment property according to the IAS 40 standard on Investment Property, and Alma Media will apply to the investment property the acquisition cost model in which the property is valued according the acquisition cost less depreciation, which is based on the property’s financial useful life. The excluded rental expenses from this deal and the new depreciations arising from it are approximately of the same size. The value of the property will be checked as part of Alma Media Group’s regular impairment testing process.
ALMA MEDIA CORPORATION
Senior Vice President, Communications and Brand
Distribution: NASDAQ Helsinki, main media, www.almamedia.com
For more information, please contact:
Juha Nuutinen, CFO, telephone +358 (0)10 665 3873
Alma Media in brief
Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitality, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 2,300 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2016 was EUR 353.2 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.