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Update about the Bonds issued by Malmö Katrinelund 27 AB (publ) and Koggbron AB (publ)

29 April 2020

Update in timeplan for closing of sale

As previously communicated, the intention of the buyer of the properties has been to close the transaction and repay the Malmö Katrinelund 27 AB (publ) bonds during April. However, due to the current Coronavirus pandemic, the timing of the closing of the transaction has been delayed. The buyer has been in contacts with the Trustee and has re-affirmed its intention to carry out the transaction, but given the current situation with employees and consultants in quarantine, the timeline needs to be extended. The buyer is targeting a closing of the transaction on or before June 8.

Below you find the latest update on the different workstreams performed by the buyer:

  • Property and legal due diligence is finalized
  • Tax and structuring analysis is expected to be finalized within two weeks
  • KYC on seller is finalized
  • Negotiations with development partner are ongoing with the aim to have terms agreed prior to 8 June
  • Closing mechanism and escrow solution is awaiting final agreement between the parties
  • Setting up the buyer’s acquisition structure and related administration will be commenced as soon as possible following finalization of structure analysis and is expected to take up to two weeks
  • Negotiations with Warranty & Indemnity Insurance company are in final stages

We will keep you constantly updated and hope to be able to get back with a fixed date for closing shortly.

Kristofer Nivenius

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