Note 30 Events after balance sheet date

The Board of Directors of Castellum AB intends to propose to the Annual General Meeting a dividend of SEK 6.90 per share, to be paid on two occasions during the year. The statement of profit or loss and the balance sheet for the Parent Company and the Group will be adopted at Castellum AB’s Annual General Meeting, which will take place on March 25, 2021.

Castellum initiated the voluntary share exchange and cash offer pertaining to all outstanding shares in Entra not already owned by Castellum. Eligible shareholders could accept the Offer between 8 January and 6 February 2021.

On the expiry of the acceptance period, Castellum had not received sufficient acceptances for the Offer in order for the minimum acceptance threshold pursuant to the Offer Document Section 4.12 (Conditions for completion of the Offer) to be met. Castellum therefore decided to withdraw the Offer.

In January 2021, Castellum obtained regulatory approval from the Swedish Competition Authority for the contracted transaction with Blackstone. Portfolio 1, with a net sale price of approximately SEK 5 billion, was handed over on 5 February. Portfolio 2 was contingent on regulatory approval from the Swedish Competition Authority and completion of the combination with Entra.

Castellum has signed a new agreement for the sale of an asset portfolio with 53 properties to Blackstone for SEK 4.8 billion, net, less overheads and deferred tax of SEK 0.2 billion. The agreed property value involves a premium of 27% against the latest Q3 2020 valuation and 15% against the Q4 2020 valuation. Hand-over will take place on 3 May.

Castellum’s holding of shares in Entra was valued at the end of the reporting period at the fair value of the asset, which corresponded to the value – according to Castellum’s offer – of approximately NOK 189 per share. Since the offer was withdrawn, the fair value of the shares will instead correspond to the market value, which means that an earnings effect of approximately MSEK 300 will be recognised in Q1 2021, assuming unchanged share price performance, as the earnout recognised as a liability at 31 December 2020 will not fall due.

In 2021, 485,000 own shares were repurchased at a value of MSEK 99.7.