Vonovia exercises call options and thereby becomes the owner of more than 90 per cent of the shares in Victoria Park
Victoria Park has today been informed that Vonovia has decided to, through a wholly-owned subsidiary, exercise call options issued from Danir AB and Ninalpha AB which represents 10.0 per cent of the total number of shares in Victoria Park. Vonovia will thereby control approximately 91.4 per cent of the total number of shares in Victoria Park. Vonovia has informed Victoria Park that its wholly-owned subsidiary intends to initiate a compulsory acquisition procedure in respect of the remaining shares in Victoria Park and that Vonovia in connection therewith will promote a delisting of Victoria Park’s ordinary shares of class A and class B from Nasdaq Stockholm.
On 3 May 2018, Vonovia SE (“Vonovia”), through its wholly-owned subsidiary Deutsche Annington Acquisition Holding GmbH (”Vonovia Acquisition Holding”), announced a public cash offer to the shareholders of Victoria Park AB (publ) (“Victoria Park”) to tender all their shares in Victoria Park to Vonovia Acquisition Holding. In connection with the offer, call options from Danir AB and Ninalpha AB (the “Call Options”) were acquired, covering in aggregate 10,235,198 ordinary shares of class A and 14,264,946 ordinary shares of class B, which represents 10.0 per cent of the total number of shares and currently 12.5 per cent of the total number of votes in Victoria Park. The Call Options were issued for no consideration and according to the terms of the Call Options, Vonovia Acquisition Holding has a right, but not an obligation, to acquire the relevant shares.
The exercise period of the Call Options runs 15 May 2019-29 May 2019 and Vonovia has now informed Victoria Park on the decision that the Call Options will be exercised.
Before the exercise of the Call Options, Vonovia through its wholly-owned subsidiaries owned 81.4 per cent of the shares, corresponding to 81.9 per cent of the voting rights, in Victoria Park. Upon completion of the Call Option exercise, Vonovia will control approximately 91.4 per cent of the total number of shares and 94.4 per cent of the total number of voting rights in Victoria Park. Vonovia has informed Victoria Park that Vonovia Acquisition Holding intends to initiate a compulsory acquisition procedure in respect of the remaining shares in Victoria Park under the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). In connection therewith, Vonovia will promote a delisting of Victoria Park’s ordinary shares of class A and class B from Nasdaq Stockholm.
For further information, please contact
CEO Per Ekelund, Tel +46 (0)70 867 66 57, per.ekelund@victoriapark.se
CFO Tommy Åstrand, +46 (0)70 545 59 97, tommy.astrand@victoriapark.se
The information in this press release is such that Victoria Park AB (publ) is obliged to disclose according to the EU Market Abuse Regulation. The Information was submitted for publication, through the agency of Per Ekelund, on 15 May 2019, 16.30 CEST.
Victoria Park AB (publ) is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth cities in Sweden. On 31 March 2019, Victoria Park's property portfolio amounted to 1,128,000 square metres, comprising 14,300 flats, with a market value of SEK 18.8 Bn. The shares in Victoria Park are listed for trading on the Nasdaq Stockholm Mid Cap exchange.
Victoria Park AB (publ) Box 2, SE-201 20 Malmö, Sweden, Tel +46 (0)40 16 74 40, Corporate Reg. No. 556695-0738, Head Office Malmö, www.victoriapark.se/english