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The mandatory redemption of the outstanding shares in Corem Kelly completed

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On 1 July 2021, Corem Property Group AB (publ) (“Corem”) called for redemption of all outstanding shares in Corem Kelly AB (formerly Klövern AB) (“Kelly”) that was not owned by Corem or Kelly. An administrator was appointed to monitor the rights of minority shareholders in connection with the redemption process. Subsequently, an arbitration tribunal was appointed. The redemption process of the remaining shares in Kelly has now been completed and the arbitration award was passed on 7 June 2022. The arbitration award has become legally binding.
 

The board of directors of Corem has, in accordance with the arbitration award, resolved to transfer all the minority shareholders’ outstanding shares in Kelly to Corem, and to pay the redemption amount, including interest, as determined by the arbitration tribunal of:

  • SEK 18.20 and SEK 0.51 interest per every outstanding ordinary share of class A,
  • SEK 18.42  and SEK 0.51 interest per every outstanding ordinary share of class B
  • SEK 325.72 and SEK 9.06 interest per every outstanding preference share


The total number of shares concerned amounts to 13,163,184, whereof 1,429,603 ordinary shares of class A, 11,078,298 ordinary shares of class B, and 655,283 preference shares, whereby a total redemption amount of approximately SEK 456 million will be paid.

The transfer of the minority shareholders’ shares and the payment to the minority shareholders will occur on 6 September 2022 through Euroclear Sweden AB.

Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Eva Landén, CEO, +46 10 482 76 50, eva.landen@corem.se
Lars Norrby, IR, +46 76 777 38 00, lars.norrby@corem.se
Anna-Karin Hag, CFO, +46 10 482 76 54, anna-karin.hag@corem.se

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.

Corem Property Group is one of the Nordic countries´ leading real estate companies that in a sustainable way owns, manages and develops commercial properties in urban and growth areas. Corem Property Group is listed on Nasdaq Stockholm, Large Cap.

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