Brief: ALM Equity Initiates Change Of Capital Structure, Financing Model Of Svenska Nyttobostäder

Svenska Nyttobostader AB (publ)

23/01/2023 07:47

Jan 23 (Reuters) - ALM Equity AB  ALMT.ST :
    * SAID ON FRIDAY INITIATES CHANGE OF CAPITAL STRUCTURE,
FINANCING
MODEL OF SVENSKA NYTTOBOSTÄDER 
    * HAS DEVELOPED PROPOSAL TO TRANSFORM CAPITAL STRUCTURE AND
FINANCING MODEL IN NYTTOBOSTÄDER AFTER DIALOGUE WITH SVENSKA
NYTTOBOSTÄDER BOD, NUMBER OF OTHER OWNERS IN NYTTOBOSTÄDER 
    * PROPOSAL INVOLVES CONVERSION OF EXISTING PREFERENCE SHARES
INTO
ORDINARY SHARES, WHERE 1 PREFERENCE SHARE GIVES THE RIGHT TO 2
ORDINARY SHARES
    * ENTAILS CHANGES TO TERMS AND CONDITIONS FOR FUTURE
PROPERTY
DELIVERIES 
    * ENTAILS THAT INVESTORS' CONTRIBUTIONS FOR FUTURE
PROPERTIES WILL
BE IN FORM OF ORDINARY SHARES INSTEAD OF PREFERENCE SHARES
    * ELEVEN BUILDING RIGHTS THAT HAVE NOT YET STARTED
PRODUCTION AND
THREE ADDITIONAL BUILDING RIGHTS ARE PROPOSED TO BE SOLD
IMMEDIATELY TO NYTTOBOSTÄDER AT MARKET VALUE
    * PAYMENT WILL BE MADE IN THE FORM OF NEWLY ISSUED ORDINARY
SHARES
IN NYTTOBOSTÄDER WITH A VALUE OF APPROXIMATELY SEK 1.3 BILLION
    * AS A RESULT OF THE CHANGE, CO OWNERSHIP IN NYTTOBOSTÄDER
WILL
DECREASE FROM 43.5 PERCENT TO 37.5 PERCENT AT FULL ACCEPTANCE
RATE

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr8kxV4t
 Further company coverage:  ALMT.ST  
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))