Victoria Park’s warrants fully exercised
In conjunction with the 2015 Annual General Meeting, Victoria Park issued warrants for transfer to employees in the Group. All of the 2,750,000 warrants transferred to employees have now been exercised, meaning the company received approximately SEK 37.8 M.
The decision of the shareholders’ meeting in 2015 means a total of four million warrants were issued. Of these, 2.75 million warrants were transferred to employees. The remaining warrants in the current series were later cancelled. Each warrant originally entitled the holder to one Class B share in the company at a subscription price of SEK 13.90. The terms and conditions for the warrants meant the number of shares each warrant provides entitlement to, and the subscription price for each share, would be translated in certain situations, for example, in connection with the payment of dividends on the company’s ordinary shares. Such a dividend was paid in both 2016 and 2017.
After translation, each warrant carries entitlement to 1.01 Class B share at a subscription price of SEK 13.60. The number of additional Class B shares consequently amounts to 2,777,500, meaning the company’s share capital will increase by SEK 305,525 to SEK 26,829,699.49.
The total number of shares in the company will, after they have been registered with the Swedish Companies Registration Office, amount to 243,906,359, of which 78,267,379 Class A shares, 164,606,933 Class B shares and 1,032,047 preference shares. The increase in the number of shares entails a dilution by approximately 1.1 percent, meaning the number of new shares divided by the total number of shares when the new shares have been registered with the Swedish Companies Registration Office.
Victoria Park AB (publ) is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth districts in Sweden.
Victoria Park's property portfolio amounts to 1,062,000 square metres, comprising 13,425 flats, with a market value of SEK 14.6 billion. The shares in Victoria Park are listed for trading on Nasdaq Stockholm Mid Cap.
Victoria Park AB (publ) Box 2, 201 20 Malmö, Tel +46 (0)40 16 74 40, Corporate Reg No 556695-0738, Head Office Malmö, www.victoriapark.se/english