Brief: Hiddn Solutions To Acquire Arribatec

Arribatec ASA

04/09/2020 08:12

Sept 4 (Reuters) - Hiddn Solutions ASA  HIDS.OL :
    * HIDDN - HIDDN SOLUTIONS ASA TO ACQUIRE ARRIBATEC AS
    * TRANSACTION WILL BE SETTLED BY ISSUANCE PF NEW SHARES IN
HIDDN,
EACH VALUED AT NOK 0.94 PER SHARE.
    * ENTERED INTO A SHARE EXCHANGE AGREEMENT WITH ARRIBATEC AS
AND
MAJORITY OF ITS A-SHAREHOLDERS
    * SHAREHOLDERS IN HIDDN WILL RECEIVE NOK 50 MILLION IN
DIVIDEND (
"DIVIDEND") PRIOR TO CLOSING OF ARRIBATEC ACQUISITION,
CORRESPONDING TO NOK 0.56 PER SHARE
    * DEAL FOR NOK 340 MILLION
    * AGREEMENT IS EXPECTED TO BE CLOSED IN OCTOBER 2020,
FOLLOWING
WHICH COMPANY INTENDS TO CHANGE ITS NAME TO ARRIBATEC ASA.
    * FOLLOWING COMPLETION OF TRANSACTION, ARRIBATEC
SHAREHOLDERS WILL
ON A 100% BASIS IN TOTAL RECEIVE 359,635,028 NEW SHARES IN
HIDDN, EACH SHARE VALUED AT NOK 0.94
    * SHAREHOLDERS IN HIDDN NOT INVITED TO PARTICIPATE IN
PRIVATE
PLACEMENT IN ARRIBATEC WILL BE OFFERED TO PARTICIPATE IN A
SUBSEQUENT OFFERING OF HIDDN SHARES AT NOK 0.94 NOK PER SHARE

Source text for Eikon:  ID:nObifdJpha 
Further company coverage:  HIDS.OL 

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