NPRO: Norwegian Property ASA – Key information regarding a potential next offering

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSES, ANY STATE OF UNITED STATES OF AMERICA AND THE DISTRICT OF COLOMBIA) (THE UNITED STATES“), AUSTRALIA, CANADA, IL HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH DISTRIBUTION OR RELEASE WOULD BE ILLEGAL.

Oslo, Norway, 23 August 2020: Reference is made to the statement on the stock exchange on 21 August 2020 where is it Norwegian property ASA (“NPRO” or the “Company”) announced a private placement with gross proceeds of approx NOK 1.1 billion (the “Private Placement”) and a potential subsequent offer (the “Next Offer”).

In compliance with the permanent obligations for companies listed on Oslo Stock Exchange, the following key information is provided in relation to the potential Next Offering:

Date of announcement of the potential Next Offer: 23 August 2020

Last trading day, including rights to receive subscription rights: 21 August 2020

First day of trading excluding the rights to receive subscription rights: 24 August 2020

Registration date: 25 August 2020

Maximum number of new shares: 2,492,143

Subscription price: NOK 11.30

Other information:

The Company expects, subject to the completion of the Private Placement, to make a subsequent offer of up to 2,492,143 new shares at the same subscription price as the Private Placement, which, subject to the applicable securities laws, will be addressed to the shareholders of the Company as 21 August 2020 (as recorded in the Central Norwegian Securities Deposit (VPS) in the following two days; the “Record Date”), (i) who have not been assigned shares in the Private Placement, and (ii) who are not resident in a jurisdiction where such an offer would be illegal or (in jurisdictions other than Norway) require any prospectus, deposit, registration or similar action (the “Eligible Shareholders”).

The subsequent Offer is subject to the approval of the Company’s Board of Directors and the publication of a prospectus.

For further information please contact:

Bent Oustad, CEO, mob: +47 4801 6082, email: bo@npro.no

Haavard Rønning, CFO, mob. +47 400 200 19, email: hr@npro.no

Norwegian property is a focused and fully integrated office real estate company with properties located primarily in the Oslo area in Norway. The portfolio is characterized by a central location and attractive local high-quality tenants. The group’s properties mainly consist of offices, associated warehouses and car parks, as well as spaces for retail and catering. The company has identified four value drivers for long-term value creation; Marketing and leasing, property management, property development and transactions and finance. Norwegian property is listed on Oslo Stock Exchange with the NPRO ticker.

www.npro.no

Important information

The release is not intended for publication or distribution, in whole or in part, directly or indirectly, in or in Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Colombia). This release is an announcement made under the legal disclosure requirements and is subject to the disclosure requirements under section 5-12 of the Norwegian Securities Trading Act. It is issued for informational purposes only and does not constitute or form part of any offer or solicitation. the purchase or subscription of securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities cannot be offered or sold the United States except in the event of an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of securities in the United States. Copies of this announcement are not made and may not be distributed or sent to Australia, Canada, Japan or the United States.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager accepts any liability for any breach by any person of these restrictions.

Distribution of this version may be restricted by law in some jurisdictions. Persons in possession of this release must inform themselves and observe these restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of those jurisdictions.

The Manager is acting for the Company and no one else in connection with the Private Placement and will not be liable to anyone other than the Company for providing the protections afforded to its respective clients or for providing advice in relation to the Private Placement and / or any other matter in which referenced in this release.

Forward-looking statements:

This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties as they reflect the Company’s current expectations and assumptions regarding future events and circumstances that may not prove to be accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied in these forward-looking statements.

https://news.cision.com/norwegian-property-asa/r/npro-norwegian-property-asa—key-information-relating-to-a-potential-subsequent-offering,c3178390

(c) 2020 Cision. All rights reserved., Source Press releases – English

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