Pursuant to the heads of agreement of 31 May 2013 with the associated stores, a condition for extending the time-limited trading terms from 31 October 2017 to 31 October 2025 including certain changes was, as stated in the offering circular of 13 June 2013 issued by Matas A/S, that Matas would be given the opportunity to acquire six identified associated stores with total revenues of DKK 80-95 million excluding VAT and that final agreements had been entered into with these six stores on or before 1 October 2013.
Matas A/S has received signed term sheets from the six associated stores, which means that an agreement has been reached on the general terms for the acquisition of the six stores. If, as expected, the final agreements for the acquisition of the six stores are entered into and the six stores are taken over on or before 1 November 2013, Matas A/S intends to enter into an agreement with the other associated stores to extend the heads of agreement, including the time-limited trading terms in the articles of association of the Matas store network from 31 October 2017 to 31 October 2025 subject to certain changes as set out in the heads of agreement, including:
- Matas A/S will have the right to charge the associated stores after 31 October 2017 in connection with the support, operation and maintenance of the associated stores' IT system for receipt of orders and management of inventories.
- The associated stores will have an obligation to pay for their share of costs relating to the Club Matas loyalty programme after 31 October 2017 based on an objective and documented basis.
- Matas will have an obligation to pay an agreed share of costs if it becomes necessary to replace the associated stores' current IT system for receipt of orders and management of inventories after 31 October 2017.
Matas A/S
