Related Party Transaction • Sep 5, 2014
Related Party Transaction
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Storm Real Estate ASA - extension of agreement with LLC PSI
Storm Real Estate has today via its subsidiary CJSC
Grifon in Russia signed an extension to its lease
agreements with LLC PSI in St Petersburg.
The Storm Real Estate group has had two lease
agreements with LLC PSI for approximately the same
size areas, with expiry dates 31 December 2014 and
30 April 2015, respectively. An extension has been
agreed to both these agreements. The two
agreements' expiry dates are now 31 December 2024
and 30 April 2025 respectively.
The parties have agreed a rent reduction of 15%
from the expiry date of the original agreements.
For further information please contact:
Erik Mathiesen, CEO
Phone: +44 (0) 207 409 3375
Einar Pedersen, CFO
Phone: +44 (0) 207 409 3369
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