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Dato/tid 15.12.2016 17:00
Utsteder Hospitality Invest AS
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Instrument HOIN01
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Tittel Hospitality Invest AS - Mandatory notification of trade in Pioneer Property Group ASA
Tekst
Oslo, 15 December 2016

As part of a corporate restructuring, 
Hospitality Invest AS has today entered into an agreement 
(the "Purchase Agreement") for the acquisition of 1,967,537 
ordinary shares in Pioneer Property Group ASA from its 
partly owned subsidiary, Norlandia Care Group AS, for a 
purchase price of NOK 101.819 per share. The transfer is 
expected to be completed on or about 20 December 2016. 
 
- After completion of the Purchase Agreement, Norlandia Care 
Group AS will own 0 ordinary shares and 99,369 preference 
shares in Pioneer Property Group ASA, equivalent to 0.61% of 
the total share capital and 0.09% of the total votes in 
Pioneer Property Group ASA. 
 
- After completion of the Purchase Agreement, Hospitality 
Invest AS will own 3,912,994 ordinary shares and 10,000 
preference shares in Pioneer Property Group ASA, equivalent 
to 24.05% of the total share capital and 37.40% of the total 
votes in Pioneer Property Group ASA.
 
- After completion of the Purchase Agreement, Hospitality 
Invest AS on a consolidated basis will control 4,143,062 
ordinary shares and 290,835 preference shares in Pioneer 
Property Group ASA, equivalent to 27.18% of the total share 
capital and 39.87% of the total votes in Pioneer Property 
Group ASA.
 
Hospitality Invest AS has simultaneously entered into an 
agreement (the "Sales Agreement") for the sale of 711,068 
ordinary shares in Pioneer Property Group ASA for a price of 
NOK 101.819 per share. The Sales Agreement is entered into 
with the current minority shareholders in Norlandia Care 
Group AS, Grafo AS and Eidissen Consult AS, which will 
acquire 355,534 shares each. A wholly-owned subsidiary of 
Hospitality Invest AS has entered into an agreement to 
acquire all shares in Norlandia Care Group, and through the 
Sales Agreement, a number of shares will be sold which 
ensures that the parties retain their present financial 
exposure in Pioneer Property Group ASA. The transfer is 
expected to be completed on or about 21 December.
 
- After completion of the Sales Agreement, Hospitality 
Invest AS will own 3,201,926 ordinary shares and 10,000 
preference shares in Pioneer Property Group ASA, equivalent 
to 19.69% of the total share capital and 30.61% of the total 
votes in Pioneer Property Group ASA. 
 
- After completion of the Sales Agreement, Hospitality 
Invest AS on a consolidated basis will control 3,431,994 
ordinary shares and 290,835 preference shares in Pioneer 
Property Group ASA, equivalent to 22.82% of the total share 
capital and 33.07% of the total votes in Pioneer Property 
Group ASA.
        
- After completion of the Sales Agreement, Grafo AS will own 
1,773,386 ordinary shares and 273,984 preference shares in 
Pioneer Property Group ASA, equivalent to 12.55% of the 
total share capital and 17.21% of the total votes in Pioneer 
Property Group ASA.
        
- After completion of the Sales Agreement, Eidissen Consult 
AS will own 1,773,386 ordinary shares and 273,984 preference 
shares in Pioneer Property Group ASA, equivalent to 12.55% 
of the total share capital and 17.21% of the total votes in 
Pioneer Property Group ASA.
 
Hospitality Invest AS will, following completion of the 
Purchase Agreement, control more than 1/3 of the votes in 
Pioneer Property Group ASA, which triggers a mandatory offer 
obligation. Hospitality Invest will however, through the 
Sales Agreement, conduct a sale which reduces its control of 
the total votes to below 1/3. As a consequence, Hospitality 
Invest will not launch a mandatory offer.
 
Roger Adolfsen, who is a major shareholder in Hospitality 
Invest AS, holds the position as Chairman of the Board of 
Pioneer Property Group ASA and is defined as primary insider 
subject to disclosure duties under the Norwegian Securities 
Trading Act Section 4-2.
 
For further information, please contact:
Roger Adolfsen (CoB, Pioneer Property Group ASA)
roger@norlandia.no 
 
Kristoffer Lorck (CFO, Hospitality Invest AS)
kristoffer.lorck@hospitalityinvest.no
 
 
This information is subject of the disclosure requirements 
in sections 6-8, 4-2 and 4-3 of the Norwegian Securities 
Trading

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