The Administrative Court is trying one new case concerning tax evasion

 

The Administrative Court is trying one additional case under the Swedish Tax Evasion Act for Fabege. The additional tax assessment amounts to SEK 415m and a tax demand of SEK 115m. The total tax assessment, including the new case, amounts to SEK 7 512m, and a total tax demand of SEK 2 138m, including tax penalty.

Fabege contests the Swedish Tax Agency’s demand and maintain its previous view that the sales were accounted for and declared in compliance with applicable rules. This assessment is shared by external legal experts and tax advisors that have analysed the sales and the Tax Agency’s reasoning. No provision has been made in Fabege’s balance sheet. However, until further notice, the amount is instead being recognised as a contingent liability, as in previous financial statements.

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80

This constitutes information that Fabege AB (publ) may be legally obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 01:00 pm CET on 28 November 2011.

Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.7bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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About Us

Fabege AB (publ) is one of Sweden’s leading property companies, focusing mainly on letting and managing office premises as well as property development. Fabege offers attractive and efficient premises, mainly offices but also retail and other premises. The company’soperations are highly concentrated to a number of fast-growing submarkets in the Stockholm region, such as Stockholm inner city, Solna and Hammarby Sjöstad. Fabege manages a well-located property portfolio that is continuously being refined through development, sales and acquisitions. The concentration of properties to well-contained clusters brings the company closer to its customers, which, coupled with Fabege’s extensive local expertise, creates a solid foundation for efficient property management and high occupancy. Fabege’s vision is to be the most proactive, innovative and competent commercial property company in Stockholm as well as an important partner for its customers and society in general. At 30 September 2012, Fabege owned 97 propertieswith a total rental value of SEK 2,3bn, a lettable floor area of 1,2m sqm and a carrying amount of SEK 31.6bn.

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