BTS carries out a directed new share issue of SEK 1.7 million as part payment for previous acquisitions – Yahoo Finance
Posted: September 27, 2019 at 12:46 am
P R E S S R E L E A S E
Stockholm, September 26, 2019
STOCKHOLM, SWEDEN - The Board of Directors of BTS GROUP AB (publ) has today, based on the authorization from the Annual General Meeting on May 15, 2019, decided to carry out a directed new issue of 10,428 Class B shares.
The newly issued shares will be used as part payment for the two previous acquisitions of Polaris Assessment Systems (Polaris) and Swiss Virtual Business School VBS AG (VBS). Of those shares, 6,295 shares are allocated to the seller of Polaris and 4,133 shares are allocated to the sellers of VBS. For more information on these two acquisitions, please see the press releases from February 28, 2019 and July 15, 2019, respectively.
The new share issue relates to final settlements of the initial purchase price of SEK 956,840 (Polaris) and SEK 727,408 (VBS) according to the acquisition agreements, which were also mentioned when the acquisitions were announced. The reason for the deviation from the shareholders' preferential rights is to secure part-financing of the two acquisitions in a time- and cost-effective manner.
The share prices, in accordance with the acquisition agreements, have been determined through a calculated volume-weighted average price per trading day for the company's B-share on Nasdaq Stockholm during a period of 30 trading days before each acquisition, corresponding to SEK 152 per share for Polaris and SEK 176 per share for VBS.
The total number of shares issued before the issue was 19,307,864. After the issue, there are a total of 19,318,292 shares. At the same time, BTS's share capital increases from SEK 6,435,955 to SEK 6,439,431.
For more information, please contact:
Michael WallinHead of investor relationsBTS Group ABmichael.wallin@bts.com+46-8-587070 02+46-708-78 80 19
This information is such information as BTS Group AB (publ) is obliged to disclose pursuant to the Financial Instruments Trading Act. The information was provided, through the above contact person, for publication on 26 September 2019 at 16:00 CET.
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden, with approximately 780 professionals at 35 offices located on six continents.
We focus on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learnbest by doing. For 30 years, weve been designing fun, powerful experiences that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. Its strategy made personal.
We serve a wide range of client needs, including: Assessment centers for talent selection and development, Strategy alignment and execution, Business acumen, Leadership and sales training programs, and On-the-job business simulations and application tools.
We partner with nearly 450 organizations, including over 30 of the worlds 100 largest global corporations. Our major clients include, for example, AT&T, Chevron, Coca-Cola, Ericsson, Google, GSK, HP, HSBC, Salesforce.com, and Unilever.
BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.
For more information, please visit http://www.bts.com.
Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.
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BTS carries out a directed new share issue of SEK 1.7 million as part payment for previous acquisitions - Yahoo Finance
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