Shareholding in Catena AB

RNS Number : 9749K

CLS Holdings PLC

03 September 2019

 

Release date:                3 September 2019

Embargoed until:           07.00 BST

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

CLS Holdings plc

("CLS", the "Group")

Shareholding in Catena AB

THIS DOCUMENT IS FOR THE USE OF THE INTENDED RECIPIENT ONLY AND SHOULD NOT BE COPIED OR DISTRIBUTED TO ANY OTHER PERSON. NOT FOR DISTRIBUTION IN OR INTO THE U.S. (OR TO U.S. PERSONS) ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER U.S. SECURITIES ACT OF 1933, AS AMENDED, OR IN ANY OTHER JURISDICTION IF SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS.

Further to the announcement on 2^nd September 2019, CLS announces that its wholly-owned subsidiary, Endicott Sweden AB ("Endicott"), has sold 3,971,349 shares in Catena AB ("Catena"), which corresponds to circa 10.5% of the total share capital of Catena, through an accelerated book-building process at a price of SEK 340 per share (the "Placement").

Following the Placement, Endicott holds no shares in Catena.  CLS has realised a gain of £15.4 million, excluding costs, above the valuation of its Catena shareholding at 30 June 2019, representing an increase in EPRA net asset value of 3.8 pence per share, and the Group's liquid resources have increased by £113.9 million.

ABG Sundal Collier AB acted as sole bookrunner in connection with the Placement.

Fredrik Widlund, Chief Executive Officer of CLS, commented:

"Catena is a very well-run company in which we have been shareholders since 2007.  We have decided to improve the focus of CLS further and take advantage of Catena's current share price premium to NAV.  We will reinvest these proceeds in office properties in our core markets in the UK, Germany and France, where we will be able to add value through active asset management."

-ends-

For further information, please contact:

CLS Holdings plc

(LEI: 213800A357TKB2TD9U78)

www.clsholdings.com

Fredrik Widlund, Chief Executive Officer

Andrew Kirkman, Chief Financial Officer

[phone]

Liberum Capital Limited

Richard Crawley

Jamie Richards

[phone]

Whitman Howard

Hugh Rich

[phone]

Elm Square Advisers Limited

Jonathan Gray

[phone]

Smithfield Consultants (Financial PR)
Alex Simmons

Rob Yates

[phone]

Important information

Release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions according to law and people in those jurisdictions, in which this press release has been announced or distributed, should inform themselves of and follow such legal restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Catena in any jurisdiction.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. The information in this press release may not be announced, published or distributed to the United States, Canada, Australia, South Africa, Japan, Hong Kong, Switzerland, Singapore, New Zealand or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations.

 

END

 

 

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