KMC Properties ASA

Storm Real Estate ASA - annual accounts approved and information about contemplated share capital increase

The Board of Storm Real Estate ASA has on 7 April 2017 approved the

2016 Annual Accounts for the Storm Real Estate Group and the parent

company. There are no changes to the results or equity compared with

the preliminary annual accounts, presented together with the Q4 2016

reporting.

The annual report will be published at the company's website

(www.stormrealestate.no) and at Oslo Stock Exchange's news platform

newsweb.no together with the calling notice for the Annual General

Meeting, to be held on 11 May 2017.

The Board has also on 7 April 2017 resolved to propose to the AGM a

share capital increase which will provide net proceeds of

approximately 3 million USD. Reference is made to the stock exchange

notification on 31 March 2017. The Board will propose that the

General Meeting adopts a resolution about a Rights Issue (no:

fortinnsrettsemisjon), and that the Board is authorised to determine

the subscription price within a price interval to be determined by

the General Meeting. The price interval to be proposed will range

from the nominal value of the Company's shares (0.40 NOK) up to the

current market price (5 NOK). The Board expects to determine the

final price in consultation with advisors prior to commencement of

the contemplated Rights Offering to ensure the highest probability

of completion. The Board anticipates that the price price will be in

the lower end of the range.

The Board understand that the largest sharesholders will participate

with minimum its relative share of the holdings.

Further details about the proposed share capital increase,

including information about ex date for participation in the rights

offering, will be determined published in connection with the

calling notice for the Annual General Meeting planned on 11 May

2017, to be sent no later than three weeks before the general

meeting.

For further information, please contact:

Einar Pedersen

Tel: +44 207 409 3369

Morten E. Astrup

Tel: +44 777 8888 0000

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