Reported via Company News Service to the Copenhagen Stock Exchange on 28 June
2007
Keops A/S is selling the Norwegian part of the Nordic Light portfolio at NOK
660 million
The acquirer is a company in the Norwegian group, Otium Gruppen, and
acquisition of the properties will be carried out on 21 August 2007.
The total Nordic Light portfolio consists of a total of approx. 151,000 square
metres allocated into 37 office properties in Norway, Sweden and Finland.
The sale of the Norwegian part concerns 20 properties constituting 62,000
square metres.
The Nordic Light portfolio was acquired in 2006 for the purpose of mediation.
As announced in Keops' Interim Report from 23 May 2007, it was subsequently
decided to hold the Finish properties in Keops' own property portfolio for the
time being, while the Norwegian and Swedish properties in the Nordic Light
portfolio were being sold as a part of the Group's ordinary activity. With this
Notice, the sale of the Norwegian properties has now been realised.
The sale has a minor positive impact on Keops' profit, as the sales proceeds
less sales related costs marginally exceed the carrying amount at 31 March
2007.
Keops' expectations of the future
Accordingly, the sale will give no reason to adjust the most recently reported
expectations of Keops Group's total consolidated profit before tax for this
financial year. The expectations of profit before tax for 2006/07 accordingly
constitute DKK 350-450 million including value adjustments of properties and
debt.
Please address questions relating to this Notice to CFO Michael Rosenvold or
Head of Communications Susanne Lindø, Keops A/S, on tel. +45 3341 0000.
This document in the English language is a translation of the Danish original
document. In the event of inconsistency, the Danish version shall apply.
Forward-looking Statements
This Notice to the Stock Exchange may contain forward-looking statements within
the meaning of US Private Securities Litigation Act of 1995 and similar laws
and regulations in other countries regarding expectations of the future
development. Forward-looking statements provide our expectations or forecasts
of future events. You can identify these statements by the fact that they do
not relate strictly to historical or current facts. They use words such as
anticipate, estimate, expect, project, intend, plan, believe and other words
and terms of similar meaning in connection with a discussion of future
operating or financial performance. Such forward-looking statements are subject
to risks, uncertainties and inaccurate assumptions. This may cause actual
results to differ materially from expectations, and it may cause any or all of
our forward-looking statements here or in other publications to be wrong.
Factors that might affect such expectations include, but are not limited to,
general economic and business conditions and interest rate and currency
exchange rate fluctuations. As a result you should not rely on these
forward-looking statements. Keops is under no duty to update any of the
forward-looking statements or to confirm such statements to actual results,
except to the extent required by law. Please also refer to the description of
risk factors on pages 30 to 33 of Keops' Annual Report 2005/06, which is
available from www.keops.dk.
