August 26, 2020
Odd Molly International AB (publ)
Stockholm, August 26, 2020
Odd Molly International AB (publ) ("Odd Molly" or the company) has today entered into an agreement to acquire two logistics properties. The property portfolio comprises a lettable area of 23,790 square meters and generates annual rental income of approximately SEK 13.8 million and net operating income of approximately SEK 10.7 million. The underlying property value amounts to approximately SEK 160 million. The transaction is made through two company acquisitions whereas Trenäs Förvaltning AB ("Trenäs") owns 100 percent of one company, while the other company has two other owners in addition to Trenäs (together the "sellers"). Closing is scheduled for October 22, 2020. In connection with the closing of the transaction, Odd Molly plans to carry out a directed new issue of 3,750,000 new common shares of Series A at a subscription price of SEK 8.00 per share to Trenäs, subject to the approval of the Extraordinary General Meeting of Odd Molly, and a directed cash new issue of a total of 3,400,000 new common shares of Series A at a subscription price of SEK 8.00 per share to a group of international investors led by the insurance company The Phoenix Insurance Company Ltd (together “Phoenix”) , within the framework of the existing authorization. In total, new issues of just over SEK 57 million are planned.
