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Innofactor will pay the 2016 adjustment payment of

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Post# of 301275
(Total Views: 43)
Posted On: 03/08/2017 2:00:26 AM
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Posted By: News Desk 2018
Innofactor will pay the 2016 adjustment payment of Cinteros AB deal partly with new company shares

Innofactor Plc Stock Exchange Release March 8, 2017, at 08:30 Finnish time

On December 21, 2015, Innofactor Plc signed a contract to purchase the entire share capital of Cinteros AB from the company management. In accordance with the contract announced on December 22, 2015, the purchase price depends on Cinteros’ realized EBITDA during 2016 and the sales growth during 2017. The 2016 adjustment price is approximately EUR 4.6 million of which approximately EUR 55 thousand will be paid in cash and approximately EUR 4.5 million in company shares in March 2017.

Innofactor Board of Directors has decided, on the basis of the authorization of the General Meeting given on 29 March 2016, on a directed share issue of new shares in connection with the 2016 adjustment payment of the deal. Innofactor will issue 3 286 848   new shares. The number of Innofactor Plc shares will be 36 188 225   in total when the new shares issued by the company have been registered in the Trade Register. The new shares correspond to 9,1 % of the total share number after the share issue. The new shares will be registered in the Trade Register approximately at the end of March 2017. The trading of the new shares is estimated to begin in the Helsinki Stock Exchange (NASDAQ OMX Helsinki) in March-April 2017. All Innofactor shares used as payment in this transaction are subject to transfer restrictions which are gradually released by 2020.  

Espoo, March 8, 2017

INNOFACTOR PLC

Board of Directors

Additional information: Sami Ensio, CEO Innofactor Plc Tel. +358 50 584 2029 sami.ensio@innofactor.com  

Distribution: NASDAQ Helsinki Principal media www.innofactor.com  

Innofactor is one of the leading Nordic providers of cloud solutions and digital transformation. Innofactor has Microsoft Ecosystem’s leading expertise and the most comprehensive offering in the Nordics. Innofactor has over 600 eager and motivated top professionals in Finland, Sweden, Denmark and Norway. Innofactor serves over 1,500 commercial, public, and third sector organizations. In 2011 to 2015, the annual growth of Innofactor’s net sales has been approximately 35%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. www.innofactor.com



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