News

27 juni, 2016

Catella financial advisor in complex joint venture on new artificial island in Copenhagen

27 June 2016  | Corporate Finance

Catella has acted as financial advisor on a strategic joint venture between Danish pension fund PensionDanmark, developer Nordkranen A/S Ejendomsudviklingsselskab, and CPH City & Port Development, owned by the Municipality of Copenhagen and the Danish government, for an extraordinary residential development project in Nordhavn, Copenhagen.

Press release
Catella advised PensionDanmark and Nordkranen, securing both equity and construction debt financing provided by institutional non-bank financing. The project consists of 32,300 m2 of residential space, 600 m2 of commercial space and 1,000 underground parking spaces on a new artificial island to be constructed, called Kronløbsøen.

Kronløbsøen is located in Copenhagen’s and Scandinavia’s largest and most prosperous development area, Nordhavn, with close proximity to the inner city of Copenhagen. Currently, five pre-qualified architect teams are competing on designing the winning project, and the selected architect on the project is expected to be announced in August 2016. The joint venture is owned 50% by City & Port, 40% by PensionDanmark and 10% by Nordkranen.

“Copenhagen is experiencing substantial urban development. Huge infrastructure projects have been initiated to support this increased demand, including a new metro line to Nordhavnen – one of Copenhagen’s most attractive new urban districts. Catella is pleased to have been engaged in securing both the debt and equity financing for Project Kronløbsøen. The new joint venture combines strong resources and skills from three leading parties in the Danish real estate industry. Jointly they offer not only capital but also a well-balanced operational platform to secure the completion of the project. Catella is proud to have been a trusted advisor in this complex and important project. The cooperation among the parties has been very positive and progressive, strongly supported by Bruun & Hjejle, Bech Bruun and Manzanti-Andersen Korsø Jensen, securing the legal agreements and closing”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.

“Institutional forward funding and participation in the early stage of the value chain has become increasingly important in the real estate industry, and Catella is well positioned to engage in such highly complex transactions, where securing debt and equity funding in combination with managing the different risks involved are important factors in creating higher returns and value for our clients. We will focus on such situations, not only in Denmark and the Nordics but across all our European market offices,” says Jesper Bo Hansen.
For more information, please contact:
Jesper Bo Hansen
Head of Corporate Finance in Denmark
+45 33 93 75 93
jesper.bo@catella.dk

Press contact:
Ann Charlotte Svensson
Group Head of Communications
+46 8 463 32 55, +46 72 510 11 61
anncharlotte.svensson@catella.se

 


15 juni, 2016

Koncernledningen i Arise förvärvar optioner

Koncernledningen i Arise förvärvar optioner
Arise koncernledning har förvärvat sammanlagt 450 000 teckningsoptioner i Arise. Detta motsvarar högsta möjliga teckning av koncernledningen i enlighet med årsstämmans beslut den 3 maj 2016. Varje option ger rätt att teckna en ny aktie i bolaget för en teckningskurs motsvarande 18:70 kronor. Priset för varje option uppgår till 1:32 kronor och har beräknats enligt årsstämmans beslut.
Teckningsperioden löper från och med den 4 mars 2019 till och med den 15 mars 2019.
I samband med förvärv av teckningsoptioner avyttrar delar av koncernledningen aktier i Arise för att finansiera optionsförvärven. Detta medför totalt sett en för koncernledningen ökad exponering i bolaget.

Halmstad den 15 juni 2016
ARISE AB (publ)

För ytterligare information, vänligen kontakta
Daniel Johansson, VD Arise AB, +46 702 244 133
Linus Hägg, CFO Arise AB, +46 702 448 916

Informationen är sådan som Arise AB ska offentliggöra enligt lagen (2007:528) om värdepappersmarknaden och/ eller lagen (1991:980) om handel med finansiella instrument. Informationen lämnades för offentliggörande den 15 juni 2016 kl. 08.30.
Om Arise
Arise är ett av Sveriges ledande företag inom landbaserad vindkraft med affärsidé att utveckla, bygga och förvalta landbaserad vindkraft i egen regi och för andra. Bolaget är noterat på NASDAQ OMX Stockholm.
Arise AB (publ), Box 808, 301 18 Halmstad, tel. 46 35 20 20 900, org.nr. 556274-6726
E-mail: info@arise.se, www.arise.se


9 juni, 2016

Banks and corporates agree – access to financing has worsened

PRESS RELEASE
Stockholm, 9 June 2016

In the June edition of the Swedish “Catella Real Estate Debt Indicator”, banks and corporates are in agreement on the current financing climate. Unfortunately, the consensus is that access to
financing in the property sector has worsened over the past three months, with the Current Situation index falling to an all-time low of 35.4. As such, the property debt financing market is
still in contraction.
“Our most recent CREDI survey shows that the views of lenders and borrowers are much more in line with one another, compared to the March survey. The Main index has seen a relatively small decrease of 0.2 points to 41.0. However, the components that make up the Main index have seen rather significant ups and downs. The Current Situation index has fallen to an all-time low of 35.4, while the Expectation index has increased to 46.7. This means that although the market has experienced a worsened financing climate, there is a belief that the worst part is over,” says Martin Malhotra, Project Manager at Catella.
The Current Situation index fell by 5.6 points to 35.4, which is the lowest point since the CREDI surveys began in May 2012. The historically low figure is partly caused by increasing credit margins
over the past three months, something that both banks and corporates agree on. In contrast, the Expectation index increased from 41.4 to 46.7, its highest point since September 2015.
“During the first quarter of 2016, Sweden has had a historically strong growth rate of 4.2 per cent, driven by household consumption and investments. However, global economic growth is expected to remain weak during the coming year, as is the Swedish stock market. Catella believes that the property market will be affected by worsened access to debt financing, as observed in the CREDI survey. As a result, we will see increasing yields for properties in secondary locations,” says Arvid Lindqvist, Head of Research at Catella.
The fifteenth edition of the Catella Real Estate Debt Indicator (CREDI) is attached and can also be downloaded from catella.se/credi. CREDI consists of two parts: one is an index based on a survey of listed property companies and active banks, and the other a set of indices based on publicly available data. Read more about the methodology at catella.se/credi. This edition also includes an analysis of preferred shares and an overview of the property market.

For more information, please contact: Press contact:
Martin Malhotra Arvid Lindqvist Ann Charlotte Svensson
Project Manager Head of Research Head of Communications
+46 8 463 34 05 +46 8 463 33 04 +46 8 463 32 55, +46 72-510 11 61
martin.malhotra@catella.se arvid.lindqvist@catella.se anncharlotte.svensson@catella.se


30 maj, 2016

Bulletin from annual general meeting of Catella AB (publ)

Today Catella AB (publ) held its annual general meeting at which the following resolutions were adopted:
• To adopt the income statement and balance sheet for the parent company and the consolidated income statement and consolidated balance sheet for 2015.
• Retained profits and net profit for the year shall be carried forward.
• To pay a dividend of SEK 0.60 (0.20) per share for the financial year 2015. The record date for the dividend is June 1, 2016. It is estimated that payment will be made through Euroclear Sweden AB on June 7, 2016.
• The number of board members shall be five (5) and no deputy board members are to be elected, and that one auditor is elected.
• Fees to board members totalling SEK 1,870,000 (previous year SEK 1,700,000), of which the chairman of the board shall receive SEK 550,000 (SEK 500,000) and other board members SEK 330,000 (SEK 300,000) each. The audit fee shall be payable in accordance with the approved invoice.
• Re-election of all existing board members, Johan Claesson, Johan Damne, Joachim Gahm, Anna Ramel and Jan Roxendal. Johan Claesson was elected chairman of the board.
• PricewaterhouseCoopers AB was re-elected as the company’s auditor for a new term from the end of the AGM 2016 to the end of the AGM 2017, with Patrik Adolfson as auditor-in-charge.
• To adopt the nomination committee’s proposals regarding principles for the nomination committee for the AGM 2017.
• To approve a resolution proposed by the board regarding guidelines for remuneration to senior executives.

For more information, please contact:
Knut Pedersen
CEO and President
+46 8 463 33 10
knut.pedersen@catella.se
Press contact:
Ann Charlotte Svensson
Head of Group Communications
+46 8 463 32 55, +46 72 510 11 61
anncharlotte.svensson@catella.se

About Catella: Catella is a financial advisor and asset manager with in-depth knowledge of property, fixed income and equities. Catella is a leader in the property sector, with a strong local presence in Europe, and employs more than 500 professionals in 12 countries. Catella is listed on First North Premier on Nasdaq Stockholm. Read more at catella.se


12 maj, 2016

Water Flood Approval Update

11 May, 2016

NIGHTHAWK ENERGY PLC
(”Nighthawk” or ”the Company”)

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to the water flood project approval process.

Water Flood Project Approval

As previously announced on 8 March, 2016, the Colorado Oil and Gas Conservation Committee (”COGCC”) approved the Company’s application for the Arikaree Creek water flood project, subject to the Company obtaining 80% approval of the non-cost bearing interest owners (”Third Party Owners”) within six months of the date of approval, using an agreed upon revenue allocation method. On 4 May, 2016, the Company announced that the original water flood filing had been amended and filed with the COGCC to introduce a pilot project which reduced the acreage of the initial water flood area (”Pilot Project”). The Company has now received signed approvals from certain Third Party Owners that combined, exceed the required 80% approval threshold for the Pilot Project. The Third Party Owners agreed to a revenue allocation method based upon the COGCC staff recommendations.

Having now received the required 80% approval, the Company and its legal advisers are confident that regulatory approval for the sanction of the Pilot Project will be received at the COGCC’s hearings scheduled for 6-7 June, 2016, when it will consider the Company’s application to amend the original water flood filing. A further announcement will be made at the appropriate time.

Enquiries:

Nighthawk Energy plc

Rick McCullough, Chairman
+1 303 407 9600
Kurtis Hooley, Chief Financial Officer Elect
+44 (0) 20 3582 1350
Stockdale Securities Limited
+44 (0) 20 7601 6100
Alastair Stratton