NPRO: Notification regarding TRS-agreement

Report this content

In connection with expiry of the existing TRS, Carucel Invest AS, a company controlled by Carl Erik Krefting who is a board member of Norwegian Property ASA (NPRO), has on January 12, 2021 entered into a TRS agreement relating to 4 262 801 shares in NPRO. Pursuant to the TRS agreement the exercise price is NOK 13 per share and the termination date is January 14, 2022. Following the transaction Carucel Invest AS will have rights related to 4,262,801 shares through the TRS agreement and will continue to own 356,664 shares, in aggregate equal to 0.71% of the share capital of NPRO. In addition Krefting has options which need to be exercised within 19 October 2021 for subscription of 500,000 shares in NPRO as follows: 333,333 of the options are exercisable, while the remaining 166,667 options will be exercisable from 19 April 2021.

Norwegian Property is a focused and fully integrated office property company with properties located mainly in the Oslo area in Norway. The portfolio is characterized by central location and attractive premises with high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.

Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.