Brief: Strongpoint Acquires Air Link Group

Strongpoint ASA

20/05/2022 11:09

May 20 (Reuters) - Strongpoint ASA  STRO.OL :
    * ACQUIRES AIR LINK GROUP LIMITED
    * ANNOUNCES SIGNING OF FINAL SHARE PURCHASE AGREEMENT (SPA)
TO
ACQUIRE 100% OF SHARES IN AIR LINK GROUP LIMITED (AIR LINK) WITH
ITS SUBSIDIARIES
    * ESTIMATED TIME OF CLOSING IS END OF Q2 OF 2022
    * ESTIMATED PURCHASE PRICE IS APPROX. GBP 9.5 MILLION AND
WILL BE
SETTLED WITH 80% CASH AND 20% CONSIDERATION SHARES IN
STRONGPOINT. STRONGPOINT HAS FREE CASH AVAILABLE TO SETTLE FULL
AMOUNT OF CASH PORTION OF PURCHASE PRICE AND COMPLETION OF
TRANSACTION IS THEREFORE NOT SUBJECT TO ANY FINANCING CONDITIONS
    * CONSIDERATION SHARES WILL BE FUNDED BY A COMBINATION OF
500,000
TREASURY SHARES HELD BY STRONGPOINT, PLUS ISSUANCE OF NEW SHARES
TO MEET TOTAL NUMBER OF CONSIDERATION SHARES

Source text for Eikon:  ID:nObibzlnka 
Further company coverage:  STRO.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))