Glunz & Jensen Holding — M&A Activity 2020

Jun 2, 2020

Sales process

Sales process

To NasDaq OMX Copenhagen A/S

Public announcement no. 474

June 2, 2020

SALE OF INVESTMENT PROPERTY

The Board of Directors has decided to initiate a sales process for the investment properties in Selandia Park A/S (assets) or the entity holding the Selandia Park real estate (shares). The sale will strengthen the liquidity and the capital.

Selandia Park A/S was established on June 1st, 2016 and operates as a standalone business unit with income statement shown in a separate segment.

Selandia Park A/S' business objective is to invest in and operate a property portfolio. Almost all properties are leased out. Glunz & Jensen is a minor lessee in Selandia Park with less than 2% of the total area.

In financial year 2019/20 rental income in Selandia Park A/S decreased to DKK 12,1 million (2018/19: DKK 12,5 million), excluding rental income from Glunz & Jensen.  Selandia Park segment assets were DKK 142,9 as of March 31st, 2020, and segment liabilities, including financial indebtedness of DKK 67,2, as of that date were DKK 90,5 million.

Glunz & Jensen expects to announce the annual report for 2019/20 on June 4th, 2020.

For further information:

CEO Martin Overgaard Hansen, phone +4522608405

Chairman of the Board of Directors Flemming Nyenstad Enevoldsen, phone +4540431303