Orava Asuntorahasto Oyj - Company Announcement

ORAVA RESIDENTIAL REIT PLC RESULT OF THE OFFERING

Orava Residential REIT plc

Stock Exhange Release 18 December 2015, at 2:00 p.m.


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ORAVA RESIDENTIAL REIT PLC RESULT OF THE OFFERING

Orava Residential REIT plc (“Orava” or the “Company”) announced earlier today
that its Board of Directrors has resolved on the directed share issue (the
"Offering") in which the Company offered new shares in the Company (the “Offer
Shares”) for subscription. In the Offering the Company offered for subscription
up to 500,000 Offer Shares against payment to a limited number of qualified
investors (the “Qualified Investors”) and up to 1,000,000 Offer Shares to the
Company without payment, however the Offer Shares subscribed by the Company
shall not exceed 10 per cent of the number of all outstanding shares in the
Company after the completion of the Offering and including also the treasury
shares already owned by the Company. The Offer Shares were offered to the
Qualified Investors and the Company by deviating from the pre-emptive
subscription right of the current shareholders of the Company. 

The Board of Directors of the Company has today resolved to approve the
subscriptions made in the Offering. In the Offering 150,000 Offer Shares were
subscribed by the Qualified Investors and 895,000 Offer Shares by the Company.
Therefore the Company received EUR 1,455,000 as new capital before fees and
costs. The subscription price of the Offer Shares shall be fully credited to
the reserve for invested equity of the Company. The Offer Shares shall carry no
right to the dividend distributed during the year 2015. 

The Offer Shares acceptably subscribed by the Qualified Investors and the
Company correspond approximately up to 13.13 per cent of all the shares and
voting rights of the Company immediately prior to the Offering and
approximately up to 11.60 per cent of all shares and voting rights of the
Company after the completion of the Offering. 

The Company expects that the acceptably subscribed Offer Shares of the Offering
are registered to the Trade Register approximately on 23 December 2015. The
Offer Shares shall be issued and recorded to the book-entry system maintained
by Euroclear Finland Ltd first as interim shares representing the Offer Shares
(the "Interim Shares"). The Interim Shares will not be applied to be admitted
to trading on Nasdaq Helsinki Ltd (Helsinki Stock Exchange). The ISIN code of
the Interim Shares is FI4000188735. The Interim Shares will be combined with
the Company's present class of shares (the ISIN code FI4000068614, trading
symbol OREIT) when the Offer Shares have been registered to the Trade Register.
Such combination is expected to occur approximately on 23 December 2015. The
Offer Shares are applied to be admitted to trading on the Helsinki Stock
Exchange approximately on 28 December 2015 together with the other shares of
the Company. 

Carnegie Investment Bank AB acts as the arranger in the Offering. The Company's
legal advisor in the Offering is Bird & Bird Attorneys Ltd. 

Orava Residential REIT plc



Board of Directors



Information

CEO Pekka Peiponen, phone +358 (0)10 420 3104

CFO Veli Matti Salmenkylä, phone +358 (0)10 420 3102

http://www.oravaasuntorahasto.fi/