Kungsleden: Rights issue 2017
The Board of Directors of Kungsleden has resolved, subject to the approval by an Extraordinary General Meeting, to conduct a rights issue of approximately SEK 1.6 billion with pre-emptive rights for Kungsleden’s shareholders.
Main purpose of the rights issue
The main purpose of the rights issue is to strengthen the balance sheet and enable further profitable growth with financial discipline.
Two major shareholders confirm our strategy and the rights issue by committing to subscribe pro-rata to their current shareholdings:
- Gösta Welandson with companies (14.2 per cent of capital and votes)
- Olle Florén with companies (3.0 per cent of capital and votes)
In addition, Gösta Welandson has expressed his long-term commitment to Kungsleden by underwriting the rest of the rights issue. Gösta Welandson sees this as a step towards further strengthening Kungleden’s financial position as well as securing the company’s strategy and future.
Gösta Welandson, largest shareholder in Kungsleden, comments:
”The Welandson family has been a shareholder of Kungsleden for several years over which we have gradually increased our ownership position. To us, this is a strategic and long-term holding. I am supportive of both Kungsleden´s new strategy and the transformation work that the board and senior management have completed over these years. Looking forward, we intend to keep our long-term ownership interest and we support the board´s proposal for a rights issue. As an expression of our support, we have committed to subscribe for the new shares pro-rata to our current shareholding and will underwrite the rights issue. We see this as a step towards further strengthening Kungsleden’s financial position as well as securing the Company´s strategy and future.”