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The Board of Directors of Castellum has announced that the Extraordinary General Meeting will occur via postal voting due to COVID-19 precautions. Shareholders must be registered by August 19, 2021, and advance votes must be submitted by August 26, 2021. Nominee-registered shareholders must request to register their shares in their own name. The agenda includes the election of a chairman, approval of the voting list, and a proposal to authorize the board to issue new shares. Additionally, shareholders are reminded that voting forms must not contain special instructions to be considered valid.
Castellum Aktiebolag has announced a public offer to acquire Kungsleden Aktiebolag, valuing Kungsleden shares at SEK 124.90. The total offer amount is approximately SEK 26,860 million. Shareholders will receive 0.525 Castellum shares for 70% of their tendered shares and SEK 121.00 in cash for the remaining 30%. The offer represents a premium of up to 21.2% compared to Kungsleden's net tangible assets. The merger aims to create a leading Nordic commercial property company with a combined property value of SEK 157 billion.
Castellum reported strong results for the first half of 2021, with total income of MSEK 2,936, slightly down from MSEK 2,999 in 2020. Income from property management decreased to MSEK 1,615, while net income surged to MSEK 5,550, representing a substantial increase from MSEK 1,534. Changes in property values reached MSEK 3,122, and net investments totaled MSEK -8,986. The long-term net reinstatement value rose by 14% to SEK 227 per share. CEO Henrik Saxborn emphasized Castellum's robust earnings and investment strategy in the Nordic property sector.
Castellum has divested a portion of its Finnish property portfolio through the sale of nine properties in Jyväskylä to Nyfosa for SEK 2.1 billion. This transaction, closing on July 12, 2021, is a strategic step in focusing the company’s operations in Finland. The divested properties include notable tenants such as Kesko and Airbus, and feature a high economic occupancy rate of approximately 95%. The annual rental value is around SEK 0.2 billion, with an average contract duration of 1.4 years.
Castellum has announced the acquisition of the office property Aprikosen 3 from Humlegården for approximately SEK 950 million. This strategic move strengthens Castellum's footprint in Solna, an established office area with excellent transport links. The property, covering 21,573 sqm and certified BREEAM In-Use 'Very Good', offers development opportunities and boasts a healthy tenant base. With an annual rental value of around SEK 56 million and an occupancy rate of 92%, this acquisition aligns with Castellum's goal of expanding its presence in the Stockholm market.
Castellum will release its half-year report for January-June 2021 on July 15, 2021, at 08:00 CET. A teleconference will follow at 09:00 CET, hosted by CEO Henrik Saxborn and CFO Ulrika Danielsson, including a Q&A session. Participants can join through designated phone numbers or via streaming at Castellum's website. The report and presentation will be accessible at Castellum.se after publication.
Castellum has signed a letter of intent with the Port of Gothenburg to develop the Halvorsäng area into a prominent Nordic logistics hub. The collaboration involves equal partnership, with Castellum investing around SEK 1 billion. The project will enhance Gothenburg's competitiveness and create jobs, with municipal approval pending a city council decision in September. The area, covering approximately 270,000 sq.m., aims for full development within 4 years, starting in 2021. Castellum's investment breakdown includes SEK 400-450 million for land and SEK 550 million for further development.
Castellum has acquired 14,947,109 shares in Entra ASA at a price of 210 NOK per share, bringing its total holdings to 33,172,109 shares, equivalent to 18.2% of Entra's share capital. This strategic acquisition aligns with Castellum's goal to strengthen its position in the Nordic real estate market, leveraging Entra's high-quality portfolio and solid financial standing. The move is expected to foster future growth by enhancing Castellum's exposure in Norway's real estate sector.
Ulrika Danielsson, CFO of Castellum since 2014, has announced her departure from the company after over two decades. She will remain in her position for a minimum of six months as the company initiates the search for a new CFO. Danielsson's contributions have been significant, playing a critical role in Castellum's success. Castellum is one of the largest listed real estate firms in the Nordic region, with a property value of approximately SEK 96 billion, operating in 14 growth regions and committed to sustainability by aiming to achieve climate neutrality by 2030.
Castellum AB has announced a share repurchase program approved by the Annual General Meeting on March 25, 2021. The buyback's goal is to adjust the company's capital structure to enhance shareholder value while maintaining a solid financial position. Repurchases will occur until the next Annual General Meeting, with Castellum holding a maximum of 10% of its shares post-buyback. Currently, Castellum owns 2,075,494 shares. This initiative aims to enable future property investments and acquisitions.
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