Eastnine AB (publ) decides not to renew ongoing buy-back program
After taking into consideration Eastnine’s latest acquisition of the office park S7 and continued focus on new property acquisitions, the Board of Directors of Eastnine has decided not to renew the buy-back program after the current mandate ends on 31 March 2019. The historic discount to NAV has declined from 38% to 3% since the launch of the program in 2016. Under the mandate given by the AGM on 24 April 2018 Eastnine may carry out buybacks through a bank or financial institution for as long as the Eastnine share trades at a discount to its most recently reported Net Asset Value (NAV) per share in EUR.
Eastnine’s total holding of its own shares per 15 March 2019 amounts to 1,179,159 shares. The Company’s holding of own shares thereby corresponds to 5.3 percent of the total number of outstanding shares and votes in the Company.
The total number of outstanding shares, including repurchased, amounts to 22,370,261.
For further information contact:
Kestutis Sasnauskas, CEO, +46 8 505 97 700
Mattias Lundgren, Interim CFO, +46 70 228 88 81
Eastnine AB (publ) is a real estate company with a net asset value of EUR 240.8m. The company is currently transitioning into a focused Baltic real estate company, with an aim to generate predictable cash flows by being a long-term provider of sustainable prime office space in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm, Mid Cap, sector Real Estate.
This information is information that Eastnine AB (publ) is obliged to make public pursuant to the Market Abuse Act or the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 16.30 p.m. CET on 15 March 2019.