Klövern AB

Klövern announces a mandatory public cash offer to the shareholders of Tobin

The Offer will not, and this press release may not be distributed, directly or indirectly, forwarded or transmitted to, from or within, and no acceptance forms will be accepted by shareholders or anyone else on behalf of the shareholders in especially Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Singapore, Switzerland, Taiwan, Brazil or USA (including District of Columbia), or any jurisdiction in where the submission of the Offer, distribution of this press release or the acceptance of the Offer would be contrary to applicable laws or regulations or require further offer document being established or registration occur or that any other measures in addition to those required by Swedish law.

Klövern announces a mandatory public cash offer to the shareholders of Tobin Properties

Klövern AB (publ) ("Klövern") hereby announces, through its indirectly wholly-owned subsidiary Dagon Sweden AB, registration number 556473-1213, (the "Offeror") a mandatory public cash offer in accordance with the Takeover Rules for certain trading platforms, effective as of 1 November 2017 by the Swedish Corporate Governance Board (the "Takeover Rules") to the shareholders of Tobin Properties AB (publ), registration number 556733-4379, ("Tobin Properties") to tender all outstanding ordinary shares and Class A preference shares in Tobin Properties to the Offeror.

As compensation, the Offeror offers SEK 20 in cash per ordinary share and SEK 108.50 in cash per Class A preference share in Tobin Properties that are not already owned by the Offeror (the "Offer"). The shares in Tobin Properties are traded on Nasdaq First North Premier ("First North Premier"). The Offeror has subscribed for 7,500,000 ordinary shares in Tobin Properties at a price of SEK 20 per ordinary share in a directed share issue (the "Directed Share Issue"), corresponding to issue proceeds in a total amount of SEK 150 million. The Offeror's ownership in Tobin Properties after the Directed Share Issue amounts to approximately 40 per cent of the total number of outstanding shares and approximately 42 per cent of the total number of outstanding votes in Tobin Properties. The obligation for the Offeror to announce the Offer occurred on 17 January 2018 when the Offeror was entered as owner in Tobin Properties' share register after the registration of the Directed Share Issue with the Swedish Companies Registration Office. For further information, see press release published by Klövern on 17 January 2018.