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

CITYCON OYJ  Stock Exchange Release  23 February 2024 at 20:40 hrs

HELSINKI, Finland, Feb. 24, 2024 /PRNewswire/ -- Citycon Oyj ("Citycon" or the "Company") has received on 23 February 2024 the following notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act according to which G City Ltd.'s holding of shares in Citycon has decreased below fifty (50) percent.

G City Ltd. has subscribed for 3,700,000 new shares in Citycon Oyj in the directed share issue of 11,900,000 new shares by Citycon Oyj, the results of which were announced on 23 February 2024. The new 11,900,000 shares were registered in the Finnish Trade Register on 23 February 2024 and the resulting number of all registered shares in Citycon Oyj is 183,894,204. The aggregate total shareholding of G City Ltd. in Citycon Oyj has decreased below the 50% threshold and this notification describes the shareholdings following the delivery of the new shares subscribed in the directed share issue, which is expected to take place on 27 February 2024. Until the delivery of such new shares to all investors, including G City Ltd., the number of shares held by G City Ltd. in Citycon Oyj will not increase.

G City Ltd., the parent of Gazit Europe Netherlands B.V., is controlled by Norstar Holdings Inc, which is ultimately controlled by Chaim Katzman. In addition to 54,974,016 shares held by G City Ltd. (including the shares subscribed for in the directed share issue) and 36,285,000 shares held by Gazit Europe Netherlands B.V., 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 183,894,204.

The holding of shares of G City Ltd. according to the notification:

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

For further information, please contact:
Sakari Järvelä
Chief Financial Officer
Tel. +358 50 387 8180
sakari.jarvela@citycon.com

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.

Citycon has investment-grade credit rating from Standard & Poor's (BBB-). Citycon's shares are listed on Nasdaq Helsinki Ltd.

www.citycon.com