Solon Eiendom ASA (Solon) has today, 18 December 2017, announced that Vatne Equity AS has agreed to subscribe issued 4,859,358 new shares in Solon Eiendom ASA at a subscription price of NOK 19.50 per share, totalling approximately NOK 95 million, in a directed share issue to Vatne Equity AS.
The funds from the transaction will provide the Company Solon with additional financing to pursue its growth strategy and acquisition of real estate plots, and will be used for general corporate purposes.
In connection with its investment, Vatne Equity AS has expressed a strong desire to take a seat at the board of directors of Solon, represented by Runar Vatne, in order to be in the best possible position to contribute to the further growth of Solon. The nomination committee of Solon has expressed its support of electing Runar Vatne to the board, and Solon expects that the nomination committee will assess the composition of the board on this basis.
Solon Eiendom ASA is a Norwegian residential real estate development company focusing on the Oslo and Akershus region.
Arctic Securities AS acted as financial advisor to Solon in connection with the private placement.
Aabø-Evensen & Co AS has acted as legal advisor to Solon Eiendom ASA Arctic Securities AS in connection with the private placement.
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