Orava Residential REIT plc
STOCK EXCHANGE RELEASE 29 MAY 2015 AT 5:00 p.m.
DIRECTED ISSUE BY ORAVA RESIDENTIAL REIT TO BUILD 52 APARTMENTS
Orava Residential REIT plc has today agreed with Rakennusliike Leimarakentajat Oy on the building of 52 apartments in Hämeenlinna. The apartments to be built will be completed by the end of 2016.
The company finances the building project with directed issues allocated to Rakennusliike Leimarakentajat Oy and company loans taken out for the housing company established. The total value of the directed issues allocated to Rakennusliike Leimarakentajat Oy is approximately EUR 1.8 million during the building period.
At the time of the signing, Rakennusliike Leimarakentajat Oy subscribed to a total of 50,540 shares at EUR 0.6 million. The subscription price of the shares is the weighted average price of the shares during the five days of stock exchange trading preceding the subscription. The remainder of the directed issues will be subscribed after the project has been completed.
Orava Residential REIT plc
Pekka Peiponen
CEO
Additional information
Pekka Peiponen, CEO, telephone +358 (0)10 420 3104
Veli-Matti Salmenkylä, CFO and administrative director, telephone +358 (0)10 420 3102
http://www.oravaasuntorahasto.fi/