Arbitration tribunal confirms Fastighets AB Balders’ right to redeem minority shares in Din Bostad Sverige AB
Fastighets AB Balder (publ), reg. no 556525-6905, (”Balder”) published on 26 June 2009 an offer to the shareholders in Din Bostad Sverige AB, reg. no 556541-1898 (”Din Bostad”) to purchase all outstanding shares in Din Bostad (”the Offer”).
Din Bostad has a share capital of SEK 185 000 000 divided into 18 500 000 shares. During a notification period, which after an extension ran to 25 September 2009, the Offer had been accepted by shareholders representing 18 343 002 shares corresponding to 99.15 per cent of the votes and the capital in Din Bostad. Balder has thereafter purchased additional shares in Din Bostad outside the Offer and now owns a total of 18 399 191 shares in Din Bostad. Other shareholders than Balder own 100 809 shares in Din Bostad.
In the arbitration award rendered in Stockholm on 22 December 2011 the arbitration tribunal confirms that Balder has the right to, and is obligated to, redeem the outstanding shares in Din Bostad that is not owned by Balder. The arbitration tribunal fixed the redemption price that Balder is to pay for each share in Din Bostad at SEK 29 with an additional interest of SEK 2.10 from 9 November 2009 to 26 February 2012, in total SEK 31.10. The interest is then fixed at an amount corresponding to the current reference rate at each time with the addition of eight percentage points until full payment is made.
The arbitration award has not been appealed in accordance with the Swedish Companies Act Ch. 22 § 24 and therefore became legally binding on 26 February 2012.
Balder has decided to redeem all outstanding shares in Din Bostad and will pay the redemption price including interest. The record day will be 29 March 2012 and the estimated payment day is 3 April 2012.
For further information, please contact:
CEO Erik Selin, tel. +46 706 074 790 or
Director of Economy Magnus Björndahl, +46 735 58 29 29
Balder discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on 26 March 2012 at 15.00.
Fastighets AB Balder is a listed real estate company which shall meet the needs of different customer groups for premises and housing through local support. Balder's real estate portfolio had a value of SEK 17.6 billion as of 31 December 2011. The Balder share is listed on Nasdaq OMX Stockholm, Mid Cap.
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