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Provider: Wright Reports
Provider: Reuters Investment Profile

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Concentric AB Transfers Own Shares as Consideration for LICOS Trucktec GmbH

Wednesday, 26 Jun 2013 02:00am EDT 

Concentric AB announced that its Board of Directors has resolved on the transfer of 64,308 own shares as part of the consideration for the acquisition of LICOS Trucktec GmbH (Licos) announced earlier in June 2013. The purchasing company, a newly established wholly-owned German subsidiary, shall as consideration for all shares in Licos pay EUR 9,250,000, where EUR 8,750,000 shall be paid in cash and EUR 500,000 shall be paid with shares in Concentric. The settlement rate for the shares in Concentric has been determined to SEK 67.72 per share, which is based upon the quoted share price of the Concentric share during the five trading days closest to signing of the Licos Share Purchase Agreement. The Concentric Shares shall be subscribed and transferred during the period starting July 26, 2013 up till and including July 31, 2013. Licos seller has committed not to sell the Concentric shares within an 18 months period. Concentric AB currently holds 323,603 own shares. 

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