The Q1 report on the first phase of the West Metro and HKL’s reporting to Länsimetro were presented to the Board of Directors. (More information on the roles of the operators: Länsimetro Oy as the owner and developer of the metro system)
Länsimetro was presented with the West Metro use and property risk Q1 report.
The Board authorised the CEO to sell the shares in Kiinteistö Oy Jousenpuisto Pysäköinti at the transaction price of EUR 729.50 to the City of Espoo. Background for the decision: Jousenpuiston pysäköinti Oy arranged a directed issue in which the City of Espoo subscribed for 300,000 new shares and Länsimetro’s holding fell to a marginal level. Jousenpuiston pysäköinti Oy has proposed that Länsimetro’s shares would be purchased through a bill of sale for a redemption price of EUR 6,600. Espoo’s City Group Division decided on 24 February 2020 to buy 60 of Kiinteistö Oy Jousenpuisto Pysäköinti’s shares from Länsimetro Oy at a transaction price of EUR 729.50. The asset transfer tax on the transaction is altogether EUR 14.59. The City of Espoo will continue the park & ride operations in the parking facility.
The Board of Directors authorised the CEO to establish a company for the implementation of the Kivenlahti parking facility and to arrange the financing required for the implementation of the company to be established. The company to be established, “Koy Kivenlahden Park & ride facilities” is Länsimetro Oy’s wholly-owned subsidiary. A similar model is in use at Matinkylä (more information on Länsimetro Oy’s subsidiaries in Finnish). The facility will be completed at the latest at the end of 2023. The parking facility will include around 500 parking spaces, of which an estimated 400 will be used for park & ride.
A status report on the construction of the Matinkylä–Kivenlahti section was presented to the Board. Construction is progressing in line with the project plan’s schedule and budget.
A Q1 risk management report on the construction of the Matinkylä–Kivenlahti section was presented to the Board.
The Board was presented with the cost monitoring and financing for the construction project.
The Board of Directors decided that Länsimetro Oy’s Annual General Meeting will be held on 26 May 2020.
The next meeting of the Board of Directors will be held on 28 May 2020.
Olli Isotalo, Chairman of the Board of Länsimetro Oy, tel. +358 (0)50 593 3359
Ville Saksi, CEO, Länsimetro Oy, tel. +358 (0)40 823 2086
Media contacts: Satu Linkola, Communications Director, tel. +358 (0)46 877 3392