ANNOUNCEMENT ON MARKET INTEREST IN PURCHASING OF CEMAT A/S’ POLISH PROPERTIES
Source: Nasdaq GlobeNewswire / 14 Sep 2017 09:44:53 America/New_York
Cemat A/S has previously notified the market that the company is trying to divest its Polish properties/CeMat '70. Cemat A/S shall hereby announce that the company currently is negotiating an asset or a share sale relating to the Polish activities.
It remains uncertain if an agreement will be concluded in the near future. Any agreement will likely be conditional of fulfilment of certain issues outside the control of Cemat A/S including but not limited to obtaining clean title to the properties as well as rulings on zoning. If the company will conclude an asset sale agreement, the asset sale agreement will likely include milestone provisions where after individual land transactions and corresponding payments will be executed over a period of five years or even longer.
Cemat A/S chooses to inform the market now about the current negotiations as the negotiations have given an indication that the value of the properties to be transferred after tax and expenses might be two or three times the value compared to valuation in the most recent annual accounts for the company.
Chairman of the Board
This announcement has been prepared in a Danish-language and an English-language version. In case of doubt, the Danish version prevails.