Cirio advises Sagax in connection with redemption of all outstanding preference shares

Cirio advises Sagax in connection with redemption of all outstanding preference shares for redemption proceeds of approximately SEK 587 million.

The Board of Directors of Sagax intends to propose a compulsory redemption of all preference shares in the Company, in accordance with the Articles of Association. The redemption procedure requires approval by an Extraordinary General Meeting to be held on 19 March 2021. The redemption amount is SEK 35 per preference share, which in total corresponds to no less than approximately SEK 587 million in redemption proceeds. If the Extraordinary General Meeting resolves on the redemption of the preference shares, the last day of trading in the preference shares on Nasdaq Stockholm is expected to be 1 April 2021.

Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax’s property holdings on 30 September 2020 amounted to 3,565,000 square meters, distributed between 698 properties. Sagax is listed on Nasdaq Stockholm, Large Cap.

Cirio advises AB Sagax with a team headed by Annika Andersson (Capital Markets and Public M&A), together with Oscar Lunde and Louise Åberg (Capital Markets and Public M&A).

For more information, please contact: