The board of directors of Cibus withdraws the proposal on a new share class and convenes an extraordinary general meeting proposing an increased dividend to EUR 0.99 per share

The board of directors of Cibus Nordic Real Estate AB (publ) ("Cibus" or the "Company") has today decided to withdraw its proposal on the resolution on a bonus issue and on the resolution on amendments to the articles of association regarding the introduction of a new share class, and related proposals. The withdrawn proposals are found in items 12, 13, 15 and 16 in the proposed agenda in the notice to the annual general meeting 2022 to be held on 20 April 2022, published by Cibus on 18 March 2022. The boards' decision to withdraw the proposals has been taken following discussions with the Company's larger shareholders. In connection hereto, the board of directors has decided to convene an extraordinary general meeting, in order to propose a resolution on extra dividends entailing a total dividend per share of EUR 0.99, and a resolution to grant the board of directors the authority to issue new shares. Notice to the extraordinary general meeting is published in a separate press release in connection hereto.

In accordance with the notice to the annual general meeting 2022, the board of directors of Cibus has proposed that the annual general meeting resolves on amendments to the articles of association by introducing a new share class, common shares of class D, and that a bonus issue of common shares of class D is carried out to existing shareholders, and that existing shares will be renamed common shares of class A. The reasons for the bonus issue of common shares of class D previously proposed by the board of directors was to enable increased flexibility in future capital raisings and enable continued growth with limited dilution for existing shareholders. By introducing the new share class, the Company was expected to further increase the conditions for achieving the Company's growth targets as well as the chances to meet the criteria for an investment grade credit rating. Such credit grade rating is expected to reduce the Company's financial risks and is also expected to increase profits from property management as a result of lower financing costs. It is the board of directors' assessment that in the long run this will create better conditions for future value creation for the Company's shareholders.

Following discussions with the Company's larger shareholders, it is clear that there is currently not sufficient support for the introduction of common shares of class D by amending the articles of association, nor the bonus issue. Therefore, the board of directors has decided to withdraw the proposal on the bonus issue and the proposal on amending the articles of association, entailing that the Company's existing shares will not be renamed common shares of class A and that the share class, common shares of class D, will not be introduced.

A consequence of the bonus issue not being carried out is that the proposal on dividend payments on common shares of class D will not be made, entailing that the proposed dividends amounts to EUR 0.75 per existing share, meaning a total dividend of EUR 36,300,000 instead of EUR 47,916,000 if common shares of class D would have been issued. The board of directors is of the opinion that the full amount of EUR 47,916,000 still should be distributed, and therefore proposes that the extraordinary general meeting resolves on extra dividends in order for the total dividend per share to amount to EUR 0.99. Due to the fact that the record date for April will occur before that the extraordinary general meeting resolves on extra dividends, the payment of dividends in April will be EUR 0.02 per share less than supposed to. In order to achieve a total dividend per share of EUR 0.99, this will be compensated for by an increased dividend in May, according to the board of directors' proposal.

For technical reasons, the board of directors has also decided to withdraw the proposal on the resolution to grant the board of directors the authority to issue new shares, since this proposal was adapted to the previously proposed articles of association. Instead, the board of directors will propose that the extraordinary general meeting resolves on a corresponding authorization, adapted to the current articles of association.

For further information regarding the board of directors' proposals and on the extraordinary general meeting, please refer to the notice to the extraordinary general meeting published by the Company in a separate press release in connection hereto.

The withdrawn proposals to the annual general meeting 2022 consist of items 12, 13, 15 and 16 in the proposed agenda in the notice to the annual general meeting 2022 to be held on 20 April 2022.

The annual general meeting is otherwise intended to resolve on the matters set out in the notice to the annual general meeting 2022, published on 18 March 2022.

For additional information, please contact:
Sverker Källgården, CEO, Cibus Nordic Real Estate AB (publ)
Phone: +46 761 444 888
E-mail: [email protected]

Pia-Lena Olofsson, CFO, Cibus Nordic Real Estate AB (publ)
Phone: +46 708 580 453
E-mail: [email protected] 

This information constitutes insider information that Cibus Nordic Real Estate AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information in this press release was submitted for publication by the contact persons set out above, for publication at the time specified by Cibus' news distributor beQuoted at the time of publication of this press release. The above persons can also be contacted for further information.

Cibus is a real estate company listed on Nasdaq Stockholm Mid Cap. The company's business idea is to acquire, develop and manage high quality properties in the Nordics with daily goods store chains as anchor tenants. The company currently owns more than 400 properties in the Nordics. The main tenants are Kesko, Tokmanni, Coop, Lidl and S-Group.


Om Cibus

Cibus affärsidé är att förvärva, förädla och utveckla högkvalitativa fastigheter i Norden med välrenommerade livsmedelsbutiker och dagligvarukedjor som ankarhyresgäster för att kunna ge en stabil, konjunkturoberoende och ökande utdelning till våra aktieägare.

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Marknad Stockholmsbörsen Kortnamn CIBUS ISIN-kod SE0010832204