Brief: Hiddn Enters Into LoI For Potential Business Combination With Energos Group

Arribatec ASA

25/03/2019 07:03

March 25 (Reuters) - Hiddn Solutions ASA  HIDDNS.OL :
    * HIDDN: ENTERS INTO A LOI FOR A POTENTIAL BUSINESS
COMBINATION
WITH ENERGOS GROUP, TO DIVERSIFY BUSINESS TO INCLUDE RENEWABLE
ENERGY TECHNOLOGY.
    * HAS ENTERED INTO A LETTER OF INTENT (LOI) FOR A POTENTIAL
BUSINESS COMBINATION WITH ENERGOS GROUP AS (ENERGOS)
    * FOLLOWING POTENTIAL TRANSACTION, ENERGOS SHAREHOLDERS ARE
EXPECTED TO HOLD 70% OF HIDDN ON A FULLY DILUTED BASIS
    * TRANSACTION IS EXPECTED TO CLOSE DURING Q2 OF 2019.
    * ENERGOS REPORTS NON-AUDITED REVENUES IN 2018 OF
APPROXIMATELY
NOK 165 MILLION AND AN EBIT OF NOK 20 MILLION FOR CONTINUED
BUSINESSES

Source text for Eikon:  ID:nWkr8rv0X7 
Further company coverage:  HIDDNS.OL 

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