Acquisition of Bidou and issue of new shares
2013-03-19 08:42:40
Reference is made to the stock exchange notice on 4
March 2013, regarding Nio Inc.'s purchase of Les
Encheres Bidou Inc. ("Bidou").
Nio has conducted a due diligence of Bidou without
revealing any material matters affecting the
valuation of Bidou or the feasibility or execution of
the acquisition, and has resolved to complete the
acquisition of Bidou as described in the stock
exchange notice from 4 March 2013.
Nio has today issued 1,000,000 new shares of its
common stock to the previous owners of Bidou. Nio`s
share capital has increased from USD 14,992,431 to
USD 15,092,431, and the number of outstanding shares
has increased from 149,924,309 to 150,924,309 (par
value USD 0.10).
Nio Inc. confirms that the new shares have been duly
authorized by all necessary corporate action and that
the shares have been fully paid and validly issued.
The new number of outstanding shares in Nio is
150,924,309 (par value USD 0.10) and all shares are
listed and admitted for trading on the Oslo Stock
Exchange. The new shares are issued under the
Company's 250,000,000 authorized shares.
For more information, please contact: Brian Palm
Svaneeng Mertz, CEO, tel: +45 2390 3300.
About Nio Inc.
Nio Inc. has two primary business areas; internet
auctions and online gaming. Nio owns and operates
Internet auction sites which offer a unique and
entertaining way to shop on the Internet, and the
gaming sites Panda365.com, Lunacasino.com and
Lunacasino.dk. Nio Inc. is a US company with more
than 150 employees with its headquarter in Oslo,
Norway. Nio is listed on the Oslo Stock Exchange
(ticker: NIO).
The information is subject of the disclosure
requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.