The results of the public offering by Arco Vara AS and the distribution of new shares

    The results of the public offering by Arco Vara AS and the distribution of new shares 

The public offering of the shares of Arco Vara AS ended at 4:00 p.m. on 15 October 2021.

Up to 1,000,000 shares were offered publicly. During the offering, the offered volume was subscribed more than 4.84 time, ie a total of 4,835,950 shares. 6,860 investors participated in the subscription.

Comment from CEO: “I am pleased that Arco Vara has come more into the picture in the real estate and stock market landscape over the past year. This is also shown by the interest of more than 6,000 new investors and the large number of subscribers. The set goal in the form of 1,000 new investors was significantly exceeded, which increases the number of Arco Vara shareholders to almost 10,000. It would be a sin to complain, considering that we have increased the number of Arco Vara investors sevenfold in 10 months and we can confidently focus on the following projects.”

The new shares will be distributed among the investors participated in the offering as follows:

1. In the first order each new investor not holding Arco Vara shares based on the list of shareholders as at the end of the business day of the Estonian settlement system of Nasdaq CSD on 19 September 2021 (hereinafter New Investors) shall be distributed the shares subscribed by them but not more than 100 shares.

6,116 New Investors participated in the offer and a total of 532,775 shares will be distributed to them.

2. In the second order, the Offer Shares will be distributed among all investors who have submitted subscription orders pursuant to the shares subscribed for by them, but no more than 5,000 shares. As there were not enough shares to distribute up to 5,000 shares among all investors who submitted the subscription order, the Offer Shares will be distributed among the investors in the second order on a proportional basis, taking into account the number of shares subscribed for by them up to 5,000 shares and in the event of New Investors, deducting the shares already distributed to them in the manner described in the first order from the number of shares subscribed for.

467,225 shares will be distributed in the second order. Every second-order investor receives 12.93% of the originally subscribed volume. The maximum number of shares to be distributed per investor in the second order is therefore 646 shares.

3. In the third order, the plan was to distribute all remaining Offer Shares proportionally among the investors who subscribed 5,001 or more Offer Shares, but as the first and second order investors subscribed for more than 1,000,000 Offer Shares, there were no shares left for the third order investors.

The settlement of the offering is planned to take place on 20 October 2021 or at an adjacent date. The new shares are planned to become tradeable on the Baltic Main List of Nasdaq Tallinn, the first trading day will be 28 October 2021 or an adjacent date.

Tiina Malm CFO Arco Vara AS Tel: [phone] [e-mail]