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Swedish Shareholders' Association Recommends To Accept Vonovia' Offer For Hembla

Vonovia said that the Swedish Shareholders' Association recommended its members to accept Vonovia's offer for Hembla. The Association stated that shareholders who choose not to tender their shares should be prepared that the liquidity in the share will be low in the future even if the Hembla share remains listed.

The offer of 215 Swedish kronor per share represents a value premium of 16.6% compared to Hembla's EPRA NAV (long term net asset value) per share of about 184 Swedish kronor as of 30 September 2019.

Vonovia launched a mandatory offer to the shareholders in Hembla On 7 November 2019.

Vonovia said today that it is already a majority shareholder controlling about 72.3 %
of the voting rights in Hembla and intends to be a long-term owner. Vonovia intends to continue with Hembla's existing dividend policy of paying no dividend to its shareholders in the coming years.

Vonovia noted that the acceptance period for the offer ends on 9 December, 2019. It has made it clear that the price in the offer is full and final.

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