Update of proposal for the Annual General Meeting
In the notice convening the Annual General Meeting, the Board of Directors has proposed that the Annual General Meeting resolves
(i) on a redemption offer, in which the holders of preference shares in the company shall be offered to redeem preference shares with repayment to the holders of preference shares in the form of a redemption claim. The redemption claim may only be used to pay for subscribed ordinary shares of Class D by set-off (item 14 a) and
(ii) to authorise the Board of Directors to increase the share capital through a new issue of ordinary shares of Class D to holders of redemption claims by set-off (item 14 b).
The proposal was made due to the company's offer on 28 March 2022 to all preference shareholders in the company to exchange their preference shares for newly issued ordinary shares of Class D in Corem (the "Exchange Offer"). The Exchange Offer is conditioned upon shareholders resolving in accordance with the proposals in item 14 at the Annual General Meeting.
The Board of Directors assesses that the prevailing market conditions will have a negative impact on the participation in the Exchange Offer and that it is not appropriate to implement the Exchange Offer for the time being. The Board of Directors now proposes that the Annual General Meeting does not vote in accordance with the previously submitted proposal.
Stockholm in April 2022
Corem Property Group AB (publ)
The Board of Directors
FOR FURTHER INFORMATION, PLEASE CONTACT
Patrik Essehorn, Chairman of the Board, + 46 (0) 8-503 853 33, patrik.essehorn@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 information is such that Corem Property Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out in this press release, at 18:45 CEST on 26 April 2022.
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 region’s 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.