Potential delay of signature of expansion project with Rhenus Group

Oslo, 2nd of March 2022 at 08.37 CET – Baltic Sea Properties AS («BALT» or «the Company», and together with the Company’s subsidiaries, «BSP») refers to Oslo Stock Exchange release and information on the 17th of February 2022, regarding the memorandum of understanding (MoU) with Rhenus Group regarding expansion of the existing logistic terminal with approximately apx. 16,000 sqm.

The company has received notification from the German based Rhenus Group to temporarily postpone the planned final signature of the expansion agreement. The request from Rhenus comes in response to the outbreak of war in Ukraine and the sanctions imposed on Russia and Belarus, as Rhenus would like more time to evaluate the situation.

The company has not received signals from Rhenus Group that their intention to proceed according to the MoU has changed.

For more information, please contact:
Lars Christian Berger
CEO
phone: +47 930 94 319
Lcb@balticsea.no