Brief: ZignSec To Buy 70% Of Shares In Data Depot Engineering
01/09/2020 06:57
Sept 1 (Reuters) - ZignSec ZIGN.ST :
* SAID ON MONDAY ENTERED INTO AN AGREEMENT TO ACQUIRE 70
PERCENT
OF THE SHARES IN DATA DEPOT ENGINEERING PTE LTD
* WILL ALSO ENTER INTO AGREEMENTS REGARDING ACQUISITIONS OF
70 PER
CENT OF THE SHARES AND SHARE CAPITAL IN EACH OF DATADEPOT OÜ AND
DATA DEPOT ASIA PTE LTD
* WILL BE GRANTED A CALL OPTION TO ACQUIRE THE REMAINING 30
PERCENT OF THE BASIS ID GROUP FOR A PREDETERMINED CONSIDERATION
* THE OPTION IS VALID UNTIL DECEMBER 31, 2023
* UPFRONT PURCHASE PRICE OF USD 1.2 MILLION, EQUIVALENT TO
SEK
10,392,000, IS PAID WITH USD 600 000 CASH AND USD 600 000 IS
PAID WITH NEWLY ISSUED ZIGNSEC SHARES
* CONSIDERATION SHARES ARE ISSUED AT A PRICE OF SEK 17.5 PER
SHARE
* COMPLETION OF THE TRANSACTIONS IS EXPECTED TO TAKE PLACE
DURING
THE FOURTH CALENDAR QUARTER 2020
Source text for Eikon: urn:newsml:reuters.com:*:nMFN8gKP3G
Further company coverage: ZIGN.ST
(Gdansk Newsroom)
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