Citycon Oyj: Flagging notification in accordance with Chapter 9 Section 10 of the Finnish Securities Markets Act

Stock exchange releases - 28 December 2021

CITYCON OYJ   Stock Exchange Release   28 December 2021 at 22:30 hrs

Citycon Oyj (“Citycon” or the “Company”) has received on 28 December 2021 the following notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act according to which Gazit-Globe Ltd.’s direct holding of shares in Citycon will decrease below fifty (50) percent.

The change in ownership will be due to a share purchase agreement entered into by Gazit-Globe Ltd. and its wholly-owned subsidiary Gazit Europe Netherlands BV according to which Gazit-Globe Ltd. will at a later stage and no later than June 30, 2022 or such other time to be agreed by the parties, sell 17,285,000 shares in Citycon to Gazit Europe Netherlands BV, subject to certain conditions and at a price to be determined later in accordance with the share purchase agreement. Entering into, or future completion of, the share purchace agreement will not affect the aggregate total direct and indirect holdings of Gazit-Globe Ltd.

Gazit-Globe Ltd. is controlled by Norstar Holdings Inc, which is ultimately controlled by Chaim Katzman. In addition to 70,274,016 shares held by Gazit-Globe Ltd. and 17,285,000 shares to be transferred based on the share purchase agreement, 35,771 shares held by Chaim Katzman have been taken into account in this notification.

Citycon has one series of shares in which each share carries one vote. The total number of shares and votes is 168,498,525.

The holding of shares of Gazit-Globe Ltd. according to the notification:

% of shares and voting rights
 
% of shares and voting rights through financial instruments
 
Total of both in %
Resulting situation on the date on which threshold was crossed or reached Gazit-Globe Ltd.: 41.71%

Additional shares held by Chaim Katzman: 0.02%
Gazit Europe Netherlands BV (wholly-owned subsidiary of Gazit-Globe Ltd.): 10.26%

-
51.96%

0.02%
Position of previous notification (if applicable) Gazit-Globe Ltd.: 51.96%

Additional shares held by
Chaim Katzman: 0.02%
51.96%

0.02%

Notified details of the resulting situation following the crossing of the threshold:

A: Shares and voting rights
Class/type of
shares
ISIN code (if possible)
Number of shares and voting rights % of shares and voting rights
Direct(SMA 9:5) Indirect(SMA 9:6 and 9:7) Direct(SMA 9:5) Indirect(SMA 9:6 and 9:7)
FI4000369947 70,274,016 41.71%
FI4000369947 35,771 0.02%
SUBTOTAL A 70,309,787 41.73%

B: Financial Instruments according to SMA 9:6a
Type of financial instrument Expiration
date
Exercise/
Conversion Period
Physical or cash settlement Number of shares and voting rights % of shares and voting rights
Share purchase agreement leading to change in ownership - - Physical settlement 17,285,000 10.26%
SUBTOTAL B 17,285,000 10.26%
The controlled undertakings through which the shares, voting rights and financial instruments are effectively held:
Name % of shares and voting rights % of shares and voting rights through financial instruments Total of both
Chaim Katzman 0.02% 0.02%
Norstar Holdings Inc
Gazit-Globe Ltd. 51.96% 51.96%
TOTAL 51.98% 51.98%


CITYCON OYJ

For further information, please contact:
Laura Jauhiainen
Vice President, Strategy and Investor Relations
Tel. +358 40 725 7573
laura.jauhiainen@citycon.com


Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. We are committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, our centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.

Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj’s share is listed in Nasdaq Helsinki.

www.citycon.com

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