Orava Residential Real Estate Investment Trust plc
STOCK EXCHANGE RELEASE 31 DECEMBER 2014 AT 4:30 P.M.
ORAVA RESIDENTIAL REIT ACQUIRES APARTMENTS BY A DIRECTED SHARE ISSUE
Orava Residential Real Estate Investment Trust plc (Orava Residential REIT) has today signed a binding agreement to acquire Asunto Oy Rovaniemen Rekiretki 16-18 and Rovaniemen Rekiretki 29. The investment properties consist in total of 80 apartments. Orava Residential REIT will fund the transaction price EUR 4 million by a directed share issue allocated to Royal House Oy. The subscription price of the new shares is the weighted average price over the five trading days at NASDAQ Helsinki preceding the signing date of the binding agreement.
The binding agreement is estimated to have a positive approximately EUR 1 million impact on the company's result for the fourth quarter.
Pekka Peiponen
CEO
Pekka Peiponen, CEO, telephone +358 (0)10 420 3104
http://www.oravaasuntorahasto.fi/