Aros Bostad takes possession of the ALM-portfolio and welcomes Joakim Alm to the Board

As previously announced, the property portfolio consists of 1,505 building rights, corresponding to 34 project development opportunities. Aros Bostad takes immediate possession of 23 projects (see list below, sw.) while access to the remaining projects will take place when the prerequisites for the agreements are fulfilled. Joakim Alm, CEO of ALM Equity, takes on the position as member of Aros Bostad’s Board of Directors, in line with decision on the extraordinary shareholders’ meeting on 23 September 2022. All ten employees who have been offered employment at Aros Bostad have accepted and will join the company at the time of closing.

Magnus Andersson, CEO Aros Bostad:
”We use to say that Aros Bostad is an entrepreneurial company with a structured way of working. The business deals so far during 2022 have proven the meaning of it. Through the deal with ALM Equity we can add more than 1,500 building rights and ten new qualified employees who will continue with the development of the projects. This places us amongst the largest developers on our market. Through the rental deal earlier this year we have received a high sales ratio in ongoing projects, which will give us the stability to focus on the future and coming projects. On top of this we are glad to welcome Joakim Alm, who is a recognized skilled entrepreneur, to the Board.”

As communicated in the press release 15 August 15 2022, the acquisition price for the building rights portfolio is SEK 1,465 billion, corresponding to 35 percent ownership of the enlarged company. Payment will be conducted in two steps, through a non cash issue of 9,942,470 common shares to a price of SEK 60 per share and a non cash issue of 2,953,161 preference shares to a price of SEK 86 per share, plus 5,462,076 convertible shares which are to be converted to common shares during 2023 at the calculated time of access. The convertible shares have a price of SEK 60 per common share. ALM Equity has agreed to sell shares over time to improve the liquidity of Aros Bostad’s shares.

Through offset issues, and utilisation of convertibles, the capital stock increases with SEK 367,154.14 from SEK 869,298.72 to SEK 1,236,452.86. The total amount of shares increase with 18,357,707, from 43,464,936 to 61,822,643 shares. The calculated dilution effect for existing shareholders is ca 29.7 percent.

The Certified Adviser for Nasdaq First North Growth Market is Erik Penser Bank. Financial information in English at https://arosbostad.se/investerare/in-english/