Orava Asuntorahasto Oyj - Company Announcement

FINANCIAL SUPERVISORY AUTHORITY HAS APPROVED THE LISTING PROSPECTUS OF ORAVA RESIDENTIAL REIT PLC

Orava Residential REIT plc

Stock Exchange Release 21 December 2015, at 2:45 p.m.


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA OR THE UNITED
STATES. 



FINANCIAL SUPERVISORY AUTHORITY HAS APPROVED THE LISTING PROSPECTUS OF ORAVA
RESIDENTIAL REIT PLC 

Orava Residential REIT plc (“Orava” or the “Company”) announced on 18 December
2015 the directed share issue (the "Offering") in which a limited number of
qualified investors ("Qualified Investors") and the Company subscribed in total
1.045.000 new shares in the Company (the “Offer Shares”). The Qualified
Investors subscribed the Offer Shares with approximately EUR 1,5 million. The
Offer Shares subscribed by the Company were without payment. The Financial
Supervisory Authority has today approved the listing prospectus of the Offer
Shares subscribed in the Offering to be admitted to trading on Nasdaq Helsinki
Ltd (the Helsinki Stock Exchange) 

After the registration of the Offer Shares to the Trade Register the number of
the shares of the Company increases with 1.045.000 shares from 7.961.619 shares
to 9.006.619 shares. 

In the listing prospectus the Company renews its estimation given on 12
November 2015 and estimates that it has reasonable prerequisites for
maintaining good profitability in 2015 and achieving the targeted total return
of 10 per cent on shareholders' equity. The change in the value of apartments
in the investment portfolio is expected to remain close to zero during the rest
of the year. Rental income is estimated to remain at the level of the three
first quarters of the year, taking into account the impact on the occupancy
rate of the apartments acquired without tenants in the autumn. The intention is
to increase the impact of the acquisition of properties on the result during
the fourth quarter compared with the third quarter. The ratio of maintenance
and repair costs to the value of investment assets is expected to remain
approximately at the level of the previous year. 

The listing prospectus is available starting from 21 December 2015 in the
Company's office Fabianinkatu 14 B, 00100 Helsinki, Finland from the reception
of Helsinki Stock Exchange, address Fabianinkatu 14, 00100 Helsinki, Finland
and from the Company's website www.oravaasuntorahasto.fi/talousinformaatio
starting from approximately 21 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") approximately on 22 December 2015. 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 Company expects that the Interim Shares will be registered in
the Trade Register on 23 December 2015. 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
Company shall submit listing application on the additional listing of shares to
the Helsinki Stock Exchange approximately on 23 December 2015 after the Offer
Shares have been registered in the Trade Register. 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. 



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/