Orava Asuinkiinteistörahasto Oyj - Prospectus/Announcement of Prospectus

THE FINNISH FINANCIAL SUPERVISORY AUTHORITY HAS APPROVED THE PROSPECTUS OF ORAVA RESIDENTIAL REAL ESTATE INVESTMENT TRUST PLC. THE COMPANY INVESTIGATES POSSIBILITIES TO IMPLEMENT A FINANCING ARRANGEMENT OF AN ESTIMATED EUR 40 MILLION

Orava Residential Real Estate Investment Trust plc

STOCK EXCHANGE RELEASE 23 January 2015 at 9:00 p.m.THE FINNISH FINANCIAL SUPERVISORY AUTHORITY HAS APPROVED THE PROSPECTUS OF
ORAVA RESIDENTIAL REAL ESTATE INVESTMENT TRUST PLC. THE COMPANY INVESTIGATES
POSSIBILITIES TO IMPLEMENT A FINANCING ARRANGEMENT OF AN ESTIMATED EUR 40
MILLION 



The Financial Supervisory Authority has today approved the company's
prospectus, which is related to the listing of a total of 1,056,122 shares. The
shares are related to the directed issue allocated to Osuusasunnot Oy (235,922
shares), communicated by the company on 28 November 2014, the directed issue
allocated to Royal House Oy (368,000 shares), communicated on 31 December 2014,
and the without charge directed issue allocated to the company itself (500,000
shares, of which 47,800 shares were listed on 20 January 2015), communicated on
5 January 2015.  In the directed issues subject to a payment, the subscription
price of new shares was the average stock exchange price on the Helsinki Stock
Exchange weighted by the share turnover during the five trading days preceding
the subscription. The subscription price of Osuusasunnot Oy was EUR 11.33 per
share, and the subscription price of Royal House Oy was EUR 10.60 per share. 

The company has filed an application for the listing of its shares with the
Helsinki Stock Exchange on 23 January 2015, applying for the admission to
trading of the shares subscribed in the directed issue allocated to
Osuusasunnot Oy and the charge-free shares allocated to the company itself, in
total 688,122 shares, on the stock exchange list of the Helsinki Stock Exchange
with the trading code OREIT. Trading in the shares in question is estimated to
start on 27 January 2015. The ISIN code of the shares to be listed is
FI4000068614. 

The total of 368,000 shares allocated to Royal House Oy will be entered in the
Trade Register and an application will be filed to admit them to trading on the
Helsinki Stock Exchange immediately when the transaction has been implemented,
on estimate on 11 February 2015 at the latest. 

The number of the company's shares recorded in the Trade Register is currently
a total of 5,942,045 shares, and the company's registered share capital is EUR
52,696,500. 

The prospectus will be available on the company's website (only in Finnish) at
www.oravaasuntorahasto.fi/talousinformaatio no later than on 26 January 2015. 

The prospectus includes the following, previously unpublished information: The
company is investigating possibilities for the implementation of a financing
arrangement of an estimated EUR 40 million. The arrangement would consist of a
credit facility of an estimated EUR 15 million, which would be used to finance
the acquisition of new properties, and a covered bond of an estimated EUR 25
million, which would mainly be directed to domestic institutional investors and
the purpose of which would be to refinance the company's existing loans and
promote the expansion of the company's business operations. 



Orava Residential Real Estate Investment Trust plc



Pekka Peiponen

CEO



Additional information

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

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