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Affecto Plc Acquires Shares in Affecto Management Oy from Group Executives through Share Swap


Friday, 8 Nov 2013 07:00am EST 

Affecto Plc announced that The Company acquires shares in Affecto Management Oy from group executives through a share swap. The members of Affecto's executive management team acquired Affecto Management Oy in June 2010. Affecto Management Oy acquired 823,000 Affecto Plc shares from the market. The acquisition was financed by a EUR 0.4 million capital investments by the executives, and by a loan of EUR 1.6 million provided by Affecto Plc. The Board of Directors of Affecto Plc has decided that the loan will be repaid through a share swap where Affecto Plc acquires all the shares in Affecto Management Oy. To implement the share swap, the Board of Directors of Affecto Plc has decided on a directed share issue in which the Company offers, in deviation from the shareholders' pre-emptive subscription rights, a maximum total of 391,460 new Affecto shares to the shareholders of Affecto Management Oy against share consideration (Share Swap). In the Share Swap, the shareholders of Affecto Management Oy convey the Affecto Management Oy shares they hold and receive new Affecto Plc shares in return. In this arrangement, all the shares in Affecto Management Oy will be transferred to Affecto Plc. Through Affecto Management Oy, the Company will also receive 823,000 own Affecto Plc shares as well as the Company's loan receivable from Affecto Management Oy. 

Company Quote

3.08
-0.05 -1.60%
28 Aug 2014