Royal Unibrew has received notice of conditional exercise of building rights for 37,500 square metres at the Aarhus site

March 30, 2012 at 10:18 AM EDT

Company announcement No 19/2012 —   30 March 2012

 

 

 

 

 

 

 

 

 

A. Enggaard A/S, Entreprenør- og Byggefirma has notified Royal Unibrew A/S of conditional exercise of building rights for 37,500 square metres relating to the brewery site in Aarhus.

 

Royal Unibrew A/S has today been notified by A. Enggaard A/S, Entreprenør- og Byggefirma of conditional exercise of an option to acquire building rights for 37,500 square metres (out of a total of 140,000 square metres building rights) relating to the brewery site in Aarhus. The exercise of the option is conditional on, among other things, approval by the public authorities of the VIA University College project on the site, depositing of the purchase price and registration of a clear title; consequently, the option exercise is still subject to great uncertainty. The conditional exercise is effected as part of the option agreement entered into in March 2011 (see Company Announcement No 1/2011 of 4 March 2011).

 

If relevant, the exercise of the building rights for 37,500 square metres will take place at the end of third quarter 2012 and will have a net cash flow effect after tax of DKK 112 million to Royal Unibrew A/S. The transaction, if any, will be effected at carrying amount, and therefore the transfer will not affect the Company's profit or equity. Moreover, this transaction will not give rise to adjustment of the carrying amount of the remaining building rights, which are recognised at estimated fair value in the Financial Statements of Royal Unibrew, see the Annual Report for 2011.

 

A. Enggaard A/S, Entreprenør- og Byggefirma has in connection with the conditional exercise of the option to acquire building rights for 37,500 square metres concerning VIA University College, been granted an option to exercise building rights for additionally 5,000 square metres of the remaining building rights in the period to 31 December 2014 on similar terms.  

 

 

Yours sincerely

Royal Unibrew A/S

 

 

Henrik Brandt

CEO