On 29 March 2021, Corem Property Group AB announced a public offer to the shareholders of Klövern AB to acquire all outstanding ordinary shares of class A, ordinary shares of class B and preference shares in Klövern in exchange for newly issued shares in Corem, which was adjusted regarding the ordinary shares of class B in Klövern by way of press release on 19 April 2021. On 15 June 2021, Corem announced that the Offer was declared unconditional and that the acceptance period was extended until 23 June 2021. On 24 June 2021, Corem announced that the acceptance period was extended until 18 August 2021.

The extended acceptance period for the Offer ended on 18 August 2021. Today, Corem announces that:

# The Offer has been accepted to such extent that Corem, after the extended acceptance period which ended on 18 August 2021, holds approximately 98.5 per cent of the outstanding share capital, corresponding to approximately 97.7 per cent of the votes in Klövern.

# The acceptance period for the Offer is not extended further.

# Corem has initiated compulsory acquisition of the minority shares in Klövern.

# After the end of the initial acceptance period, which ended 11 June 2021, Corem controlled 79,691,706 ordinary shares of class A, 839,362,431 ordinary shares of class B, and 14,399,212 preference shares, corresponding to approximately 89.1 per cent of the outstanding share capital and 90.8 per cent of the votes in Klövern.

After the end of the extended acceptance period which ended on 23 June 2021, Corem controlled 80,171,112 ordinary shares of class A, 900,475,754 ordinary shares of class B, and 14,850,199 preference shares, corresponding to approximately 95.0 per cent of the outstanding share capital and approximately 94.5 per cent of the votes in Klövern.

During the extended acceptance period which ended on 18 August 2021, 2,377,877 ordinary shares of class A, 33,308,552 ordinary shares of class B, and 857,426 preference shares in Klövern have been submitted in the Offer (corresponding to approximately 3.5 per cent of the outstanding share capital and approximately 3.2 per cent of the votes in Klövern). Corem has not acquired any shares in Klövern (or any other financial instruments with exposure to shares in Klövern) outside the Offer during the extended acceptance period. As of today, Corem thereby holds a total of 82,548,989 ordinary shares of class A, 933,784,306 ordinary shares of class B, and 15,707,625 preference shares, corresponding to approximately 98.5 per cent of the outstanding share capital and approximately 97.7 per cent of the votes in Klövern.

As part of the Offer preference shareholders in Klövern was given the opportunity to receive either newly issued ordinary shares of class D or preference shares in Corem as consideration in the Offer. During the extended acceptance period which ended on 18 August 2021, shareholders representing 328,435 preference shares in Klövern have chosen to receive ordinary shares of class D in Corem and shareholders representing 528,991 preference shares in Klövern have chosen to receive preference shares in Corem.

Payment of consideration to the shareholders who have accepted the Offer during the extended acceptance period is expected to begin around 24 August 2021. The Offer is not extended with any further acceptance period.

Klövern’s shares have been de-listed from Nasdaq Stockholm, with last day of trading 20 July 2021.

Since Corem controls more than 90 per cent of the outstanding shares in Klövern, Corem has initiated compulsory acquisition procedure in accordance with the Swedish Companies Act (2005:551) in order to acquire the shares in Klövern which have not been submitted in the Offer.

As the Offer is unconditional, the shareholders who have accepted the Offer do not have the right to withdraw their acceptances.