Dividend on preference shares postponed

The Board of Directors of Quartiers Properties AB (publ) ("Quartiers" or the "Company") has decided not to resume dividend payments on the Company's preference shares at this time due to increased uncertainty in the world and changed business conditions. A decision on distributable funds will be made at the next Annual General Meeting scheduled to be held in the second quarter of 2023. At the same time, the Company is initiating a process to evaluate an offer of a voluntary redemption program for the preferred stock.

The Company's performance since the pandemic restrictions has been positive in several key areas. As a result, the company is now able to move from a defensive pandemic mode to a more active business development mode, which will require investment. At the same time, the external environment has significantly changed economic realities. In addition, the tense political situation makes it impossible to predict what the economic conditions will be tomorrow. These circumstances have led the Board of Directors of Quartiers to take the following decisions:

• The decision regarding the preference shares will be postponed until the next Annual General Meeting, when both the external situation and the business situation of Quartiers have become clearer.
• At the same time, the company will initiate an analysis to clarify how the company can optimise its capital structure. Potential steps that will be evaluated include, but are not limited to, a reduction in the number of outstanding preference shares through, for example, a potential voluntary redemption offer.
• The Company's success, not least with Boho Club, has prompted the Board to review how the overall strategy can be further focused and sharpened.

Further decisions and updates regarding the preference shares will be announced in future press releases as decisions are made.

Quartiers Properties AB (publ) is required to disclose this information under the EU Market Abuse Regulation. This information was provided for publication through the agency of the contact person above on 29 September 2022 at 13:30.

For additional information, please contact:

Quartiers Properties

Marcus Johansson Prakt, CEO
Email: marcus.prakt@quartiersproperties.se
Phone: +46 72 018 5998
Website: www.quartiersproperties.com

The company in brief
Quartiers Properties is a Swedish property development company which focuses on excellent design and quality, and is active on the Spanish Costa del Sol. The company was founded in 2014, since when it has built up a portfolio of investment properties and project properties. The company develops, sells and rents out properties.

Quartiers Properties owns and manages Boho Club, which is a boutique resort in Marbella’s Golden Mile district with a restaurant and 30 hotel rooms. The project has won awards for its design and architecture, and since its launch in 2019, both the hotel and the restaurant have established themselves as leading venues in Marbella. Visit Boho Club website www.bohoclub.com to book a hotel room or reserve a table at the restaurant. The restaurant is open daily, serving breakfast, lunch and dinner.

Quartiers Marbella Apartments is an apartment complex in Benahavís, the neighbouring municipality to Marbella, where Quartiers runs apartment rental operations. The apartments are perfectly ideal for short- and long-term accommodation and are popular among families, as well as groups visiting Marbella for leisure purposes, fitness holidays or to play golf. Visit our website www.quartiersmarbella.com to book your apartment.

Hacienda Collection is an apartment project in Benahavís just outside Marbella, where Quartiers Properties is selling apartments that are ready for immediate occupancy. Located in a gated community featuring wonderful views of the Mediterranean, the apartments feature a generous, open floorplan with large windows, high-end kitchen, separate laundry room and 2–3 bedrooms. The spacious terraces offer plenty of scope for spending quality time with family and friends. Visit the website for additional information and to book an online or in-person viewing:  www.haciendacollection.es.

Mangold is the Certified Adviser to the company. Mangold can be contacted on +46 8 503 015 50 or by email to ca@mangold.se.