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KMC Properties ASA Earnings Release 2018

Jul 23, 2018

3645_rns_2018-07-23_ddb3cc1d-db5f-4789-8674-6d413e9389d6.html

Earnings Release

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Storm Real Estate ASA - Profit warning

Due to a sustained difficult rental market for office space in South West Moscow and a falling Russian Rouble in Q2 Storm Real Estate ASA is likely to face a significant write down of the Gasfield building per 30.06.2018 measured in US dollars. As a consequence, the company is likely to breach its loan covenants by the end of Q3 as a result. There is currently a dialogue with all relevant stakeholders in order to reconstruct the company.

For further information, please contact:

Storm Capital Management Ltd,

Morten E Astrup

[email protected]

Phone: +44 (0)777 8888 000