Capital/Financing Update • Mar 11, 2019
Capital/Financing Update
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Assessment of refinancing and / or strategic alternatives
The Board of Directors (the “Board”) of Pioneer Property Group ASA (the “Company”) has over the last months and year experienced interest both from institutional investors providing long term debt financing and from third parties with respect to a potential sale of assets/shares by the Company. Based on this, the Board has initiated a process to evaluate different strategic alternatives for the group. Such alternatives may include a broad range of options including, but not limited to, a recapitalization of the group including refinancing the PPU01 bond, a continuation of the current strategy and/or a sale of all or parts of the shares in its subsidiaries. The Company has mandated Pareto Securities AS as financial advisor in this process.
A dialogue will be established with interested parties, but no assurances can be given that any transaction will take place as a result of this process. The Company will update the market as required by applicable law, market practice and the continuing obligations of the group, given the group’s listed preference shares on Oslo Axess and listed bonds on Oslo Børs. The Company does not expect to update the market with any further information on the strategic process, unless and until the Board has approved a specific transaction or such disclosure otherwise is deemed appropriate or required.
Pioneer Property Group ASA
Board of Directors
Pareto Securities AS
Lars Ove Skorpen: phone +47 22 87 87 16 / +47 91 32 31 15, Mail: [email protected]
Petter Omsted: phone +47 22 87 87 77 / +47 97 63 03 22, Mail: [email protected]
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