Orava Residential REIT Plc
Stock Exchange Release 17 September 2018 at 4:00 pm
ORAVA RESIDENTIAL REIT PLC HAS FILED AN APPLICATION CONCERNING DELISTING AND RELISTING OF THE SHARES OF THE COMPANY
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Orava Residential REIT Plc (hereinafter referred to as the “Company") announced on 10 September 2018 that the Extraordinary General Meeting resolved to amend the Articles of Association of the Company as a result of which the Company no longer is a REIT and the Company's name changes to Ovaro Kiinteistösijoitus Oyj.
In connection with making the Trade Register entry, the Company’s shares shall be delisted from the stock exchange as a listed REIT and relisted as a listed company in accordance with the Rules of Nasdaq Helsinki Ltd (“Helsinki Stock Exchange”).
The Company has today filed an application concerning the delisting and relisting of all its 9,598,910 shares to the Helsinki Stock Exchange.
The intention would be to carry out this technical delisting and relisting primarily outside regular trading hours. Therefore, these actions are not expected to cause an interruption in trading on the Company’s shares. The measures are expected to take place on or about 1 October 2018 provided that the Helsinki Stock Exchange approves the Company's application and the amendment in the Articles of Association will be registered by that date.
The Financial Supervisory Authority has taken the view that the Company will not be created an obligation to issue a prospectus compliant with the Securities Market Act in connection with the change.
Petri Roininen, Chairman of the Board:
“The transformation of REIT into a real estate investment company is progressing step by step. Following the previously implemented changes made to the Board of Directors and the strategy, the Extraordinary Shareholders' Meeting of Orava decided on 10 September 2018 to convert the company into Ovaro Kiinteistösijoitus Oyj. The next steps are the delisting and relisting of the company's share as Ovaro. After that, the new already appointed management will be able to start.”
Helsinki 17 September 2018
Orava Residential REIT plc
Additional information
Petri Roininen, Chairman of the Board, tel. +358 40 761 96 69