KMC Properties ASA

Share Issue/Capital Change • Jun 27, 2017

Storm Real Estate ASA - Final result of the rights offering

Storm Real Estate ASA - Final result of the rights offering

Storm Real Estate ASA - Final result of the rights offering

Oslo, 27 June 2017

Reference is made to previous stock exchange announcements regarding

the rights offering in Storm Real Estate ASA ("the Company"). The

subscription period in the rights issue expired on 26 June 2017 at

16:30 (Norwegian time).

The Board of Directors of the Company has today, 27 June 2017,

approved the allocation in the rights offering. The allocation has

been made in accordance with the allocation criteria included in the

prospectus dated 9 June 2017 ("Prospectus").

A total of 70,000,000 new shares has been allocated in the rights

offering, each with a nominal value of NOK 0.40 and at a

subscription price of NOK 0.40, distributed to 161 subscribers. The

total gross proceeds for the rights offering is consequently NOK 28

million, of which NOK 13.28 million has been subscribed and

allocated in accordance with the guarantee obligation as further

detailed in the Prospectus.

The following allocations have been made to the Company's primary

insiders in the rights offering:

Aconcagua Management Ltd, controlled by board member Morten E.

Astrup, has been allocated 19.951.544 new shares. New holding after

this is 23.880.399 shares.

Ørn Norden AS, 50% owned by board member Morten E. Astrup, has been

allocated 904.226 new shares. New holding after this is 1.082.286

shares.

Total holdings for companies controlled by Morten E. Astrup is after

this 24.962.685 shares.

Strategic Investments A / S, where Kim Mikkelsen is the managing

director and board member, has been allocated 18.528.422 new shares.

New holding after this is 22.177.036 shares.

Banan II AS, controlled by Chairman Stein Aukner, has been allocated

2.418.943 new shares. New holding after this is 2.895.281 shares.

Aukner Holding AS, controlled by Chairman Stein Aukner, has been

allocated 126.954 new shares. New holding after this is 151.954

shares.

Total holdings for companies controlled by Stein Aukner is after

this 3.047.235 shares.

A letter will today 27 June 2017 be sent to each individual

subscriber for the allocation of the new shares and the

corresponding subscription amount to be paid for the shares. Payment

for new shares allocated to the subscribers falls due on 3 July 2017

and shall be made in accordance with the payment procedures in the

Prospectus.

The new shares cannot be transferred or traded until they are fully

paid and the capital increase in the rights issue is registered in

the Register of Business Enterprises. Assuming full payment, it is

expected that such registration will take place

on or about 4 July 2017.

As soon as the share capital increase has been registered in the

Register of Business Enterprises, the new shares will be transferred

to each subscribers individual VPS account, subject to the share

capital increase having been registered in

the Register of Business Enterprises and full payment from the

individual subscriber having been received by the Company. Delivery

of the new shares is expected to take place on or about 4 July 2017,

and it is expected that the new shares will be listed on Oslo Stock

Exchange on or about 4 July 2017.

Arctic Securities AS is acting as settlement agent in connection

with the rights issue. Arntzen de Besche Law Firm DA is the

Company's legal advisor in connection with the rights issue.

This information is subject to disclosure pursuant to section 5-12

of the Securities Trading Act.

For further information, please contact:

Einar Pedersen, CFO

T: +44 (0) 20 7409 3369