Brief: Savosolar And Meriaura To Merge With Share Exchange

Summa Defence Oyj

29/08/2022 06:37

Aug 29 (Reuters) - Savosolar Oyj  SAVOH.HE :
    * REG-SAVOSOLAR OYJ AND MERIAURA OY TO MERGE WITH A SHARE EXCHANGE
    * SHARE EXCHANGE AGREEMENT ON 29 AUGUST 2022 WITH VG-SHIPPING OY TO ACQUIRE MARINE LOGISTICS
COMPANY MERIAURA AND BUSINESS OF VG ECOFUEL
    * SAVOSOLAR'S CURRENT SHAREHOLDERS WILL OWN 30% AND VG-SHIPPING 70% OF NEW CORPORATE ENTITY.
    * IN TRANSACTION, IMPLIED VALUE OF MERIAURA'S SHARES HAS BEEN DEFINED AS EUR 30.0 MILLION
AND
SUBSCRIPTION PRICE AS EUR 0.05404 FOR SHARES DIRECTED TO VG-SHIPPING
    * SUBSCRIPTION PRICE IS 51.4% HIGHER THAN SAVOSOLAR'S CLOSING PRICE ON TRADING DAY PRIOR TO
ANNOUNCEMENT 26 AUGUST 2022 (EUR 0.0357 PER SHARE)
    * SUBSCRIPTION PRICE IS 40.4% HIGHER THAN VOLUME-WEIGHTED AVERAGE PRICE ON NASDAQ FIRST
NORTH
GROWTH MARKET FINLAND OR 3 MONTHS PRIOR TO ANNOUNCEMENT (APPROXIMATELY EUR 0.0385 PER SHARE)
    * TRANSACTION WILL BE IMPLEMENTED BY ORGANIZING A DIRECTED SHARE OFFERING TO VG-SHIPPING,
WHICH
OWNS ALL SHARES OF MERIAURA OY
    * ACCORDING TO AGREEMENT, TRANSACTION WILL BE IMPLEMENTED BY NOV 30 

Source text for Eikon:  ID:nGNE68XHKL 
Further company coverage:  SAVOH.HE 

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