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Getupdated Internet Marketing AB to Acquire Crystone Sweden AB; Proposes Rights Issue; Proposes Name Change


Friday, 28 Sep 2012 02:39am EDT 

Getupdated Internet Marketing AB announced that its Board has decided to convene an Extraordinary General Meeting (EGM) on October 26, 2012 to decide about a share issue for the acquisition of Crystone, an issue of SEK 45 million and an authorization of a private placement of SEK 11 million. The Board proposes that EGM approves acquisition of all shares in Crystone Sweden AB. The purchase price for all shares in Crystone consists of 151,385,092 new shares in the Company, which is equivalent to approximately SEK 30 million by the share price on September 27, 2012. The Board has decided on rights issue of SEK 45.4 million with preferential rights for the existing shareholders in order to strengthen the Company's capital structure and create better conditions for future growth. The Board also proposes name change to Online Group. The Board has on September 27, 2012 decided to, provided EGM approval, conduct a rights issue of SEK 45.4 million with preferential rights for existing shareholders. The share capital shall be increased by maximum of SEK 45,415,526.40 through the issue of up to 227,077,632 new shares. The shareholders will have preferential rights to subscribe for the new shares, with five existing shares entitle to subscription of nine new shares. The subscription price is SEK 0.20 per new share. Record date for participation is November 8, 2012 and with preferential subscription period from and including November 12, 2012 to November 26, 2012. 

Company Quote

12.25
-0.667 -5.16%
2 Sep 2014