Clarification regarding a dispute in the District Court of Stockholm between a buyer and housing association West Side Solna

In order to correct certain reporting in the media and to ensure that correct information regarding the main hearing in the dispute on 8-9 April 2019 in the District Court of Stockholm between a buyer and housing association West Side Solna, the following clarification is made.

On December 4, 2017 housing association West Side Solna received a termination notice regarding a pre-agreement from a couple, which had bought an apartment in the project. On February 28, 2018 a writ of summons was issued after application by the couple, in which the couple requests the District Court to order housing association West Side Solna to re-pay SEK 25,000 plus interest which has been paid by the couple in advance. During the fall of 2018 the couple has also invoked that the pre-agreement has formal shortcomings and also that they terminated the agreement for other causes. In addition the couple has claimed compensation for litigation costs.

It is housing association West Side Solna position that the pre-agreement is valid and that the termination is unfounded. The housing association West Side Solna also considers that the parties have acted as if the pre-agreement was valid all the time, inter alia since the couple confirmed in late September 2017 that they wanted to sign the rights agreement (Upplåtelseavtal) for the apartment knowing when the apartment would be accessible for moving in.

In addition to this dispute, around 50 other buyers have terminated their pre-agreements and sued housing association West Side Solna regarding repayment of their pre-payments. The District court of Stockholm has not yet decided when these disputes will be examined.

The home owners in housing association West Side Solna will start getting access to their apartments during Q3, 2019.

For more information, please contact:

Ann-Charlotte Johansson
Chief Communications & IR Officer
Phone: +46 761 65 17 71
Email: ann-charlotte.johansson@ssmliving.se
Twitter:@AnnCharlotteSSM

About SSM Holding AB (publ)

SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group – the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 50 percent cooperative apartments and 50 percent rental units. SSM is the leading property developer in its niche within the Greater Stockholm area and at year-end 2018, the company has approximately 6,500 building permits in its portfolio. SSM has been listed on Nasdaq Stockholm (Small-Cap) since April 6, 2017. www.ssmlivinggroup.com