Hemfosa intends to introduce preference shares
Hemfosa’s Board of Directors has decided to convene an extraordinary general meeting to resolve to amend Hemfosa’s articles of association in order to enable the issue of preference shares. The Board of Directors proposes, among other, that the extraordinary general meeting authorizes the Board of Directors to resolve on the issue of preference shares.
The principal terms of the preference shares are stated in the amendments to the articles of association, which are set out in the notice to attend the extraordinary general meeting, which the extraordinary general meeting has to consider.
In connection to the listing of Hemfosa’s shares in March this year, Hemfosa communicated its intention to evaluate the possibility to raise additional expansion capital through, for example, the issue of preference shares or the issue of bonds. During the spring, Hemfosa successfully completed a SEK 1,200m unsecured bond issue. The proposed resolutions at the extraordinary general meeting will enable the Board of Directors of Hemfosa to decide to raise additional expansion capital by the issue of preference shares.
Hemfosa deems the market conditions for an issue of preference shares to be favorable and sees attractive property acquisition opportunities through Hemfosa’s active role in the property transaction market.
Hemfosa has appointed Swedbank Corporate Finance as financial advisor and Advokatfirman Cederquist as legal advisor in connection with the proposed resolutions at the extraordinary general meeting and for a potential issue of preference shares.
For further information, please contact:
Bengt Kjell, Chairman of the Board, mobile: +46 705 94 5398
Jens Engwall, CEO, jens.engwall@hemfosa.se, mobile: +46 706 90 6550, office +46 8 448 04 80
About Hemfosa Fastigheter
Hemfosa is a Swedish property company with a property portfolio characterized by a balanced geographic spread and a high proportion of community service properties with the government and municipalities as the largest tenants. This generates stable revenue flows and a healthy yield. Hemfosa also aims to create value by actively participating in the transaction market. As of June 30, 2014, Hemfosa owns commercial properties in Sweden with a total property value of approximately SEK 20.5 billion, including the company’s share of the property value in joint ventures. The company’s share is listed on the NASDAQ Stockholm Mid Cap exchange as of 21 March 2014.
Tags: