8 May 2015
Gernandt & Danielsson advises in Oscar Properties’ redemption and issue of preference shares
Oscar Properties Holding AB (publ) has resolved to redeem existing preference shares and simultaneously list and offer subscription of new preference shares amounting to approximately SEK 268 million. Holders of existing preference shares have been offered to reinvest the redemption payment and the dividend regarding the existing preference shares by subscription of corresponding amount of new preference shares. In addition, and in order to achieve further liquidity in the new preference share, Oscar Properties has resolved to make a bonus issue through which existing holders of ordinary shares receive a new preference share for each possession of two hundred ordinary shares, amounting to approximately SEK 35.5 million.
Oscar Properties acquires, develops and sells real properties with attractive locations in Stockholm with the long-term strategy to carry out its business by converting as well as developing buildings. The company's and its associated companies' holdings comprised at the latest year-end to approximately 2,700 residential units, of which approximately 467 units were under construction.
Gernandt & Danielsson has advised the company and its financial advisor Swedbank AB (publ), with a team consisting of Partner Fredrik Palm, Senior Associate Erik Åslund and Associates Oscar Anderson, Philip Rämsell and Karin Källström.