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BRIEF-Talkpool purchase 100 pct of shares in LCC Pakistan
June 21, 2017 / 7:15 AM / 6 months ago

BRIEF-Talkpool purchase 100 pct of shares in LCC Pakistan

June 21 (Reuters) - TALKPOOL AG:

* TALKPOOL GROWS SUBSTANTIALLY AND BECOMES PROFITABLE THROUGH THE ACQUISITION OF LCC PAKISTAN

* ‍ANNOUNCES PURCHASE OF 100% OF SHARES IN LCC PAKISTAN​

* SHARES IN LCC PAK ARE BEING ACQUIRED FOR A TOTAL CONSIDERATION OF USD 5.2 MILLION OF WHICH USD 4.0 MILLION WILL BE PAID AT CLOSING

* REMAINING USD 1.2 MILLION WILL BE MADE IN TWO INSTALMENTS IN 2018 AND 2019 AND WILL BE FINANCED THROUGH TALKPOOL‘S FUTURE CASH FLOW

* PAYMENT IN CONNECTION WITH CLOSING WILL BE FINANCED THROUGH A RIGHTS ISSUE OF 32.9 MILLION SEK AND A CONVERTIBLE LOAN OF 500,000 CHF

* RIGHTS ISSUE IS UNDERWRITTEN TO 81% THROUGH SUBSCRIPTION UNDERTAKINGS OF SEK 17.8 MILLION AND GUARANTEE AGREEMENTS OF SEK 9.0 MILLION

* LCC PAK WILL BE CONSOLIDATED INTO TALKPOOL‘S FINANCIAL REPORTING, CLOSING IS EXPECTED TO TAKE PLACE LATEST BY OCT. 31, 2017 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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