Oslo, 11 July 2024: The Board of Directors (the "Board") of KMC Properties ASA
("KMCP" or the "Company") has been informed by Morten E. Astrup that he has
decided to resign from the Board.
 
"Following 16 eventful years, I have today decided to withdraw from the board of
directors of KMC Properties as the assets of the Company have been sold to
Logistea in consideration for shares that will subsequently be distributed to
the Company's shareholders. 
 
With a solid order backlog, the combined company stands out as one of a few
property companies in the Nordics that can withstand today's high floating
interest rate levels and at the same time does not have a dominant owner holding
a majority of the voting shares, as most comparable Swedish real estate
companies do. This is an important reason why SurfSide Holding has agreed to
receive shares in Logistea, which will probably be a more liquid investment than
the shares in KMC Properties prior to the transaction" says Morten E. Astrup. 
 
"We are grateful for all the valuable contributions made by Morten E. Astrup
during all his years on the Board. His long-term views, analytic approach and
focus have been highly appreciated by the Board" says Bjørnar André Ulstein,
chair of the Board.
 
Following Morten E. Astrup's resignation from the Board, the Board will comprise
of Bjørnar André Ulstein (chair), Hege Buer, Marianne Bekken, Mia Arnhult and
Jonas Grandér.
 
For additional information, please contact:
 
Stig Wærnes
+47 915 66 386
stig.warnes@kmcp.no    
 
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange