Castellum permits M2 Asset Management AB to proceed with a sale of shares during the currently ongoing closed period
Castellum has approved M2 Asset Management AB to proceed with the sale of its shares during an ongoing closed period, which is set to end on October 20, 2022. This decision stems from exceptional circumstances, as M2 faces urgent financial claims that necessitate the sale. Castellum recognizes that these conditions were beyond M2's control and that delaying the sale is not an option for M2. As of June 30, 2022, Castellum's property value was approximately SEK 185 billion, and it aims for complete climate neutrality by 2030.
- Approval allows M2 Asset Management AB to sell shares during the closed period, demonstrating responsiveness to urgent financial needs.
- M2's need to sell shares indicates potential financial distress, raising concerns about its financial stability.
GOTHENBURG, Sweden, Oct. 6, 2022 /PRNewswire/ -- CEO and board member Rutger Arnhult and M2 Asset Management AB ("M2") have submitted a written request to Castellum for the purpose of obtaining Castellum's permission to proceed with an immediate sale of shares in Castellum held by M2 concurrently with the ongoing closed period, which extends up until 20 October 2022 when Castellum announces its interim financial report for the period January - September 2022.
It is Castellum's assessment that the circumstances that have led to M2's need to sell the shares have been exceptional due to the extremely urgent, unforeseeable and compelling nature of the circumstances and that M2 has had no control of the occurrence of the circumstances. Castellum has, when examining whether the circumstances described in the written request are exceptional, taken into account that a sale of M2's shares in Castellum cannot be delayed but is the only possible means for M2 to satisfy the financial claims placed upon M2. Castellum has therefore, in accordance with the EU Market Abuse Regulation Article 19.12, resolved to permit Rutger Arnhult, through M2, to sell shares during the currently ongoing closed period.
Per Berggren, Chairman of the Board of Directors, Castellum AB, +46 70 553 80 48
Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 30 June 2022, the property value totalled approximately SEK 185 billion, including the ownership share of the Norwegian company Entra ASA. We are active in attractive Nordic growth regions. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se
This disclosure contains information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 06-10-2022 14:30 CET.
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SOURCE Castellum
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