Pandox evaluates the conditions to carry out a directed share issue

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN, HONGKONG SWITZERLAND, SINGAPORE OR NEW ZEELAND OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Pandox AB (publ) (the “Company”) (“Pandox”) has mandated ABG Sundal Collier, DNB Markets, Handelsbanken Capital Markets and Skandinaviska Enskilda Banken to evaluate the conditions for carrying out a directed issue of class B shares corresponding to a value of approximately MSEK 2,800, through an accelerated book building procedure, based on the authorisation granted to the board of directors on the annual general meeting on 10 April 2019. Pandox has received subscription commitments of MSEK 2,200 from a number of current shareholders.

The Company intends to use the proceeds to increase the Company’s financial flexibility for acquisitions and further strengthen its competitive position in the international hotel property market. The Company has recently completed and is currently evaluating potential acquisitions. The increased financial flexibility that a potential share issue would entail would strengthen Pandox’s position as a relevant and competitive buyer.

Several current shareholders have committed to subscribe for shares in the directed issue. In aggregate, the commitments amount to MSEK 2,200. AMF Försäkring & Fonder has committed to subscribe for shares corresponding to a value of up to MSEK 1,200, Eiendomsspar AS has committed to subscribe for shares corresponding to a value of up to MSEK 600, and Christian Sundt AB and Helene Sundt AB have collectively committed to subscribe for shares corresponding to a value of up to MSEK 400. The subscription commitments are not associated with any fee or preferential allocation. In addition, several existing shareholders and external investors have indicated interest in participating in the directed share issue.

FOR MORE INFORMATION, PLEASE CONTACT:

Anders Nissen, CEO, +46 (0) 708 46 02 02
Liia Nõu, CFO, +46 (0) 702 37 44 04
Anders Berg, Head of Communications and IR, +46 (0) 760 95 19 40

This information is information that Pandox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 17:31 CET on 4 November 2019.

About Pandox
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio comprises 146 hotels with approximately 32,700 hotel rooms in 15 countries. Pandox’s business is organised into Property Management, which comprises hotel properties leased on a long-term basis to market leading hotel operators, and Operator Activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are listed on Nasdaq Stockholm. www.pandox.se

Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipient of this press release is responsible for using the information in this press release in accordance with applicable law in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Pandox in any jurisdiction.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. The information in this press release may not be announced, published or distributed, directly or indirectly, to the United States, Canada, Australia, New Zealand, Singapore, South Africa, Japan or Hong Kong or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations.

This press release is not a prospectus. Pandox has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus or other offering document has been or will be prepared in connection with the directed share issue.