Brief: Ask and Paragon Group enter into MoU

Paragon Id SA

03/11/2016 15:58

Nov 3 (Reuters) - Ask SA  ASK.PA : 
    * Ask and Paragon Group enter into a memorandum of understanding with a view to merger of 
Ask with Paragon's Identification Division 
    * Agreement provides for contribution by Paragon to Ask of shares of Paragon Identification 
Companies (PID) 
    * Closing of transaction should take place at the latest in Q1 of 2017 
    * Operation would result in a contribution to Ask of 100 percent of shares of Paragon 
Identification 
    * Paragon Group LTD would receive new Ask shares representing 77.5 percent on a fully 
diluted basis of share capital of new group 
    * Paragon Group would subscribe for ordinary bonds of Ask to value 10.0 million euros ($11.1 
million) and to issuance of convertible bonds for amount of 10.0 million euros 
 
Source text for Eikon:  ID:nNDL1nwvMT  
Further company coverage:  ASK.PA  
 
($1 = 0.9013 euros) 
 
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