Selvaag Bolig ASA: Selvaag Bolig has entered into transaction agreements to implement the sale of its land bank to Urban Property
The general meeting of Selvaag Bolig gave its approval on 9 December 2019 to the agreement on selling a large proportion of the land bank to Urban Property. Agreements to implement the transaction were entered into by the company today.
These transaction agreements accord with information in Selvaag Bolig’s stock exchange announcement of 18 November 2019 and the terms approved by the general meeting. The transaction is due to be implemented around 21 January 2020.
Authority to determine the payment of dividend in connection with the transaction has been given by the general meeting to the Selvaag Bolig board. The dividend is due to be paid after completion of the transaction.
The board expects to take a final decision on the dividend and payment dates around 21 January 2020, with subsequent disbursement to shareholders around 30 January 2020.
A separate announcement with key information on payment of the dividend will be published as soon as final dates have been determined.
An updated presentation with more detailed information is attached to this announcement.
Further information from
Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: firstname.lastname@example.org
Kristoffer Gregersen, vice president communication and marketing, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: email@example.com
Rolf Thorsen, CEO, Selvaag Bolig ASA
Telephone: +47 901 19 373, e-mail: firstname.lastname@example.org
Selvaag Bolig ASA is a residential property developer which controls the entire value chain from acquisition of land to sale of turnkey homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 70-year history and experience, and offers a broad variety of property types. The company’s head office is at Ullern in Oslo.
This information is subject to the disclosure requirements specified in section 5-12 of the Norwegian Securities Trading Act.
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of Selvaag Bolig ASA (the "Company").
This announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws.
Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to forecasts, projections and estimates, statements of management's plans, objectives and strategies for the Company, such as planned expansions, investments or other projects, management, as well as statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. No assurance can be given that such expectations will prove to have been correct. The Company disclaims any obligation to update or revise any information in this notification, including forward-looking statements, whether as a result of new information, future events or otherwise.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.
This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company.