Executive Summary
Nordic Land Limited raised T?13.4 million in a private placement in April 2007 and has acquired two properties in Sweden at an aggregate cost of approximately T?50 million. The Company has made conditional offers for two further properties - one in Sweden, one in Norway - for an aggregate cost of T?16 million. The Company intends to acquire and manage a portfolio of predominantly retail properties with strong covenants in the Nordic Region. The Directors' objective is to provide Shareholders with attractive total returns over the medium to long term through dividends and increases in net asset value. It will seek to acquire properties in good locations generating a stable income stream but also providing the opportunity for active asset management. It is therefore intended that the majority of the assets in the portfolio will be let to a number of tenants which the Directors believe should create significant asset management opportunities and provide diversified rental income streams. The Company intends to be fully invested in property within 3 months. A further key objective of the Directors is to identify assets which provide opportunities for active asset management and development as they believe this will produce higher rental income and increased capital values.
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