Bulletin from Extraordinary General Meeting in K-Fast Holding AB (publ)

As communicated in the Company's press releases from 13 March 2024, the Board of Directors of K-Fastigheter resolved on the same day to carry out a directed issues of 6,662,000 new series B shares. The capital raise was carried out through two separate resolutions on share issues, partly as a directed issue of 5,820,000 series B shares, pursuant to the remaining part of the authorization to issue shares granted by the Annual General Meeting held on 15 May 2023, partly as a directed issue of 842,000 series B shares, subject to approval at an Extraordinary General Meeting of the Company. With deviation from the shareholders' preferential rights, the new shares could only be subscribed for by institutional and other qualified investors. The latter of these shares issues has now been approved by the Extraordinary General Meeting. The subscription price in both share issues amounted to SEK 19.19 per share, corresponding to the closing price on 13 March 2024, and was determined by the Board of Directors of the Company in consultation with Danske Bank A/S, Danmark, Sverige Filial following arms-length negotiations with the investors.

The share issue entails an increase of the Company's share capital by up to SEK 224,533.333333 through a new issue of no more than 842,000 new series B shares, each with a quota value of SEK 0,266667.

The Board of Directors of the Company made an overall assessment and carefully considered the possibility of raising capital through a new issue with preferential rights for the Company's shareholders. The Board of Directors considerers that the reasons for deviating from the shareholders' preferential right is (i) that a rights issue would take a significantly longer time to complete and entail a higher risk for an adverse effect on the share price, particularly in light of the current market volatility and the challenging market conditions, and (ii) to carry out a directed share issue can be made at lower costs and with less complexity than a rights issue. The Board of Directors' overall assessment was that, given current market conditions, a new issue which deviates from the shareholders' preferential right, given the flexibility it allows, was the most suitable option for carrying out the capital raise.

For more information on the new share issue, please refer to the press release published on the Company's website on 13 March 2024.

For more information, please contact:
Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: johan.hammarqvist@k-fastigheter.se,telephone: +46 10 167 60 99
 

This information was submitted for publication, through the agency of the contact person set out above, on 8 April 2024, 6 PM CET.

K-Fastigheter is much more than a property company. Through an integrated process, we build our business in the four business areas project development, prefab, construction and property management. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept houses, developed in-house and constructed for own management. K-Fastigheter offers close to 4,900 homes from Copenhagen in the south to Gävle in the north and is continuously assessing new markets. K-Fastigheter strive to create attractive homes with a high comfort factor. The Group's property portfolio has a book value SEK 14,9 billion. Annual rental value in invest properties under management amounts to SEK 661 million. Since November 2019, the company's Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at k-fastigheter.com