Brief: Vmp And Smile To Unite

Eezy Oyj

05/07/2019 06:48

July 5 (Reuters) - Vmp Oyj  VMP.HE :
    * REG-VMP AND SMILE UNITE TO BECOME THE FRONT-RUNNER OF THE
HR
SERVICES INDUSTRY
    * TRANSACTION WILL BE EXECUTED AS A SHARE EXCHANGE, IN WHICH
SMILE'S SHAREHOLDERS WILL RECEIVE 0.8087 NEW SHARES IN VMP AS
SHARE CONSIDERATION FOR EACH SHARE IN SMILE OWNED BY THEM
    * SIGNED A SHARE PURCHASE AGREEMENT WITH NOHO PARTNERS OYJ
AND
MINORITY SHAREHOLDERS OF SMILE HENKILÖSTÖPALVELUT OYJ TO ACQUIRE
SHARE CAPITAL OF SMILE AS SHARE CONSIDERATION
    * CORRESPONDING TO A DEBT-FREE PURCHASE PRICE OF
APPROXIMATELY EUR
82 MILLION
    * BOARD OF DIRECTORS OF VMP WILL PROPOSE A DIVIDEND AND
CAPITAL
REPAYMENT AMOUNTING TO EUR 3.5 MILLION IN TOTAL
    * SAMI ASIKAINEN WILL ACT AS CEO OF COMBINED COMPANY AND
HANNU
NYMAN AS CFO
    * BOARD OF VMP WILL INCLUDE BOARD MEMBERS FROM BOTH
COMPANIES. IT
IS PROPOSED THAT CHAIRMAN WILL BE MR. TAPIO PAJUHARJU
    * TRANSACTION IS EXPECTED TO BE COMPLETED DURING Q3 OF 2019
    * LARGEST SHAREHOLDERS OF VMP SUPPORT COMBINATION AND HAVE
COMMITTED IN ADVANCE TO VOTE IN FAVOUR OF TRANSACTION IN EGM OF
VMP

Source text for Eikon:  ID:nGNE2d23s2 
Further company coverage:  VMP.HE 

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