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Empire AB Acquires 49% Ownership in Semac Oy and Proposes New Share Issue


Tuesday, 24 Sep 2013 04:54am EDT 

Empire AB announced that the Company is acquiring 49% of a Finish distributor, Semac Oy, for SEK 2.1 million. The remaining 51% of shares in Semac Oy will be acquired by Semac's management for SEK 2.2 million. Empire will have an option to acquire the 51% of Semac owned by the company's management. The option is valid to and including 2018. In order to finance the acquisition Empire will set up an Extraordinary General Meeting to decide on a new share issue of class B shares. The issue would be directed towards a limited number of investors. Subscription price is proposed to be SEK 2.35 per share. If fully subscribed for, the issue would bring the Company proceeds of SEK 10 million. Mangold Fondkommission AB acts as Financial Advisor in connection with the issue. 

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