Quartiers Properties has two outstanding share types in the form of ordinary shares and preference shares. The ordinary and preference shares in Quartiers Properties have been traded on Stockholm’s Nasdaq First North Growth Market since 21 June 2017. The preference share series was previously traded on NGM Nordic MTF.
The two share types allow opportunities for two separate investment approaches. The preference share generates an annual quarterly dividend of around 10.7 percent (based on the share price at 31 December 2018), but has a theoretically limited upside as the company is able to redeem the preference shares at a premium of 20 percent, corresponding to SEK 12 per share.
A direct investment in a property in Spain can in many cases be perceived as complicated and incur significant transaction costs. An investment in Quartiers’ ordinary shares is an opportunity to expose your share portfolio to Spain’s growing property market, and in particular on the Spanish Costa del Sol, which is the location of the company’s existing property portfolio.
Quartiers’ long-term ambition is to consolidate its position in the Spanish property market and it is the only Swedish property company operating in Spain with shares that can be traded on one of the Swedish marketplaces, including the Stockholm Stock Market, NGM Nordic MTF, Aktietorget and Nasdaq First North Growth Market.
Mangold Fondkommission AB tel. +46 8-503-015-50
Nasdaq First North Growth Market
Nasdaq First North Growth Market is a registered SME growth market, in accordance with the Directive on Markets in Financial Instruments (EU 2014/65) as implemented in the national legislation of Denmark, Finland and Sweden, operated by an exchange within the Nasdaq group. Issuers on Nasdaq First North Growth Market are not subject to all the same rules as issuers on a regulated main market, as defined in EU legislation (as implemented in national law). Instead they are subject to a less extensive set of rules and regulations adjusted to small growth companies. The risk in investing in an issuer on Nasdaq First North Growth Market may therefore be higher than investing in an issuer on the main market. All issuers with shares admitted to trading on Nasdaq First North Growth Market have a Certified Adviser who monitors that the rules are followed. The respective Nasdaq exchange approves the application for admission to trading.
|#||Shareholders - September 30, 2019||Ordinary Shares||Preference shares||Capital||Votes|
|1||Egonomics AB||10 091 340||50 000||18,2%||20,5%|
|2||Fastighets Aktiebolag Bränneröd||6 139 018||85 370||11,2%||12,5%|
|3||LMK-bolagen & Stiftelse||4 779 714||1 402 222||11,1%||10,0%|
|4||Rocet AB||3 847 334||30 000||7,0%||7,8%|
|5||Bosmac Invest AB||2 400 666||-||4,3%||4,9%|
|6||Bernt Lundberg Fastigheter Lund AB||1 980 000||150 000||3,8%||4,1%|
|7||Swedbank Robur Fonder (Småbolagsfonden Norden)||1 903 700||-||3,4%||3,9%|
|8||Libra Advisors LLC||1 730 800||-||3,1%||3,5%|
|9||Mats Invest AB||1 630 000||156 000||3,2%||3,4%|
|10||Leif Edlund||1 333 334||-||2,4%||2,7%|
|Other||13 508 782||5 401 025||33,9%||28,5%|
|Total||48 462 896||7 274 617||100,0%||100,0%|
Quartiers Properties AB (publ) is a Swedish public property company, with registered offices in Stockholm, whose shares are listed on Nasdaq First North Growth Market in Stockholm. The external framework for corporate governance is the Swedish Companies Act, the Articles of Association and Nasdaq’s rules for issuers on First North. Prior to the listing on First North, which took place in June 2017, the company complied with NGM Nordic MTF’s rules for issuers. The company complies with internal regulations issued by the Board, the most important of which include the Board’s rules of procedure, the CEO instructions and the company’s inside information policy. The company is not obliged to apply the Swedish Corporate Governance Code.
Principles of corporate governance within Quartiers Properties
Corporate governance within Quartiers Properties aims to support the Board of Directors and management in ensuring that all operations create long-term value for shareholders and other stakeholders.
Governance involves upholding:
- an efficient organisational structure;
- risk management and internal control systems; and
- transparent internal and external reporting.
Shareholders and the Annual General Meeting
Shareholders’ influence in the company is exercised at the Annual General Meeting, which is the company’s highest decision-making body. At the AGM, each shareholder votes by right of the number of votes associated with the share type held. Quartiers Properties has two classes of share: ordinary shares carrying ten votes, and preference shares carrying one vote. At the publication date of the annual accounts, the company has 48,462,896 ordinary shares corresponding to 484,628,960 votes, and 7,274,617 preference shares corresponding to 7,274,617 votes. There are consequently a total of 55,737,513 shares and a total of 491,903,577 votes in the company.
Board of Directors:
The company’s Articles of Association state that the Board of Directors shall comprise a minimum of three and maximum of nine members, including the Chairman. The Board currently consists of four ordinary members, including two members who are independent in relation to both the company and company management, as well as the company’s major shareholders. One member is independent in relation to the company and company management, and one member is independent in relation to the company’s major shareholders. The company’s Board of Directors is elected at the AGM. The election of the Board relates to the period extending up to and including the next AGM. The company does not appoint any special committees for auditing or remuneration issues, as the entire Board is engaged in these matters. The Board shall monitor operations and actively support the development of the company. The Board is composed of individuals with expertise and experience in business development, marketing, property and project development, financing and capital market issues. The Chairman of the Board ensures that the Board performs its duties. The Chairman also monitors operations in consultation with the CEO and is responsible for ensuring that other Board members receive the information required in order to facilitate discussion and decisions of high quality. The Chairman is also responsible for evaluating the work of both the Board and the CEO.
Investor presentation December 2018
CBRE valuation report 2018
Articles of association Quartiers Properties AP (PUBL)
Board of directors and Management team
BOARD OF DIRECTORS
|ANNUAL REPORT FOR THE BUSINESS YEAR 2018||08-05-2019|
|ANNUAL GENERAL MEETING 2019||29-05-2019|
|INTERIM REPORT JAN - JUN 2019||31-07-2019|
|YEAR-END REPORT JAN - DEC 2019||28-02-2020|
Quartiers Properties’ press releases are always available first in Swedish according to stock market regulations and are thereafter voluntarily translated by the company into English and published on the website. Click here to see Swedish press releases.
Quartiers Properties is publishing an information brochure in connection with the ongoing Rights Issue, and is announcing a new assessed net asset value of SEK 8.46 per ordinary share
The Board of Directors of Quartiers Properties AB (publ) (hereinafter “Quartiers Properties” or “the Company”) is hereby publishing an information brochure in connection with the ongoing Rights Issue of preference shares. The brochure contains preliminary profit figures for the period January–November 2019 which, together with the changes in value for the year, provide a new…Read more
Quartiers has received new valuations of its portfolio for year-end 2019 that indicate an increase in value of approx. EUR 17.3 million, with Boho Club accounting for the single largest change
Quartiers Properties AB (publ) contracted CBRE Spain to carry out a valuation of the company’s property portfolio for year-end 2019. The new valuation of the entire property portfolio amounts to approximately EUR 80.3 million, corresponding to an increase of EUR 17.3 million (27.5%) compared with December 2018. The increase in value above the investments made…Read more
Information is coming soon