Quartiers Properties publishes final outcome of exchange offer
The Annual General Meeting of Quartiers Properties AB (publ) (“Quartiers Properties”, or “the Company”) on 26 June 2020 resolved, among other matters, on an offer to holders of the Company’s preference shares regarding the exchange of preference shares for newly issued ordinary shares and share warrants (“the Offer”). The final outcome of the Offer is that 3,291,624 preference shares were accepted, which means that these will be cancelled and the corresponding number of ordinary shares will be issued, along with 6,583,248 share warrants.
The acceptance level for the Offer corresponds to 32.7% of the number of preference shares outstanding in the Company.
The redemption of the preference shares increases the Company’s net asset value relating to the ordinary shares by SEK 39,499,488, all things being equal. The Company’s financial position is being further strengthened by the outcome, as dividends on the preference shares are decreasing by just over SEK 3 million a year.
The ordinary shares will be traded on the Nasdaq First North Growth Market upon registration with the Swedish Companies Registration Office, which is expected to take place during the week beginning 7 September 2020. The Company will apply for the share warrants to be traded, and provided Nasdaq’s trading requirements are satisfied, trading is expected to begin during the week beginning 14 September 2020 at the earliest.
If you have any questions, please contact:
Quartiers Properties
Marcus Johansson Prakt, CEO
Email: marcus.prakt@quartiersproperties.se
Phone: +46 72 018 5998
The Company in brief
Quartiers Properties is a Swedish property development company with a focus on excellent design and quality, and is active on the Spanish Costa del Sol. The Company was founded in 2014 and has since built up a portfolio of investment properties and project properties. The Company develops, sells and rents out properties.
Mangold is the Company’s Certified Adviser. Mangold can be contacted on +46 8 503 015 50 or by emailing ca@mangold.se.