Number of Shares in Citycon Oyj has Changed due to the Reverse Share Split and as a Result Thereof Citycon has Adjusted its Outlook Accordingly

ESPOO, Finland, March 18, 2019 /PRNewswire/ --

CITYCON OYJ  Stock Exchange Release 18 March 2019 at 09.00 hrs

CHANGE IN THE NUMBER OF SHARES IN CITYCON

The number of shares in Citycon Oyj has changed due to the reverse share split. After the reverse share split, the total number of shares in Citycon Oyj is 177,998,525. The new number of shares has been registered with the Trade Register on 16 March 2019 and trading with the merged shares commences today 18 March 2019 with a new ISIN code FI4000369947.

The Annual General Meeting of Citycon Oyj held on 13 March 2019 resolved that the number of shares in the company be reduced without reducing the share capital by merging each five (5) shares in the company to one (1) share by means of the procedure provided in Chapter 15, Section 9 of the Limited Liability Companies Act (624/2006, as amended). The purpose of merging the shares is to facilitate trade in the company's shares by increasing the value of an individual share as well as to increase flexibility in connection with a possible distribution of funds. The procedure has been explained in more detail in Citycon Oyj's stock exchange release issued on 13 March 2019.

CITYCON'S OUTLOOK FOR THE YEAR 2019

Citycon's earlier outlook 2019 for EPRA Earnings per share (basic) is adjusted to correspond with the change in the number of shares of the company. Citycon forecasts the 2019 EPRA Earnings per share (basic) to be EUR 0.775–0.875. Previously Citycon forecasted the 2019 EPRA Earnings per share (basic) to be EUR 0.155–0.175. Otherwise the outlook remains unchanged.

Citycon's updated outlook for the year 2019

Citycon forecasts the 2019 EPRA Earnings per share (basic) to be EUR 0.775–0.875. Furthermore, the Direct operating profit is expected to be in the range of EUR 188–206 million and EPRA Earnings in the range of EUR 138–156 million.

These estimates are based on the existing property portfolio as well as on the prevailing level of inflation, the EUR–SEK and EUR–NOK exchange rates, and current interest rates. Premises taken offline for planned or ongoing (re)development projects reduce net rental income during the year.


For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 50 557 9137
eero.sihvonen@citycon.com

Mikko Pohjala
IR and Communications Director
Tel. +358 40 838 0709
mikko.pohjala@citycon.com

Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total approximately EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

Citycon has investment-grade credit ratings from Moody's (Baa2) and Standard & Poor's (BBB-). Citycon Oyj's share is listed in Nasdaq Helsinki.

www.citycon.com 

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