Reato

Approval of transfer of business

The general meeting resolved, in accordance with the proposal of the board of directors, to approve the divestment of the business that operates First Hotel Planetstaden in Lund and the business that owns and manages the group's properties (the "Transfers").

As the negotiations regarding the Transfers are still ongoing, it is not possible to provide information on the total consideration, although, the board of directors expects that the Transfers can be completed on market terms. If the Transfers are completed, the company intends to fulfill its obligations towards existing creditors, whereafter it is not expected that any significant value will remain within the group.

Resolution on continued operations

The general meeting resolved, in accordance with the primary proposal of the board of directors, to continue the company’s business operations.

The resolution means that a new general meeting shall be convened within eight months from the initial meeting for liquidation purposes, to resolve, on the basis of a new balance sheet for liquidation purposes, on whether the company shall enter into liquidation (second meeting for liquidation purposes). If the company’s equity, as per the balance sheet for liquidation purposes presented at the second meeting for liquidation purposes, is less than the registered share capital, the company is obligated to enter into liquidation.