Xplora Technologies AS: Closing of Xplora Mobile acquisition and resolution to increase share capital
2021-04-16 10:32:26
Oslo, Norway, 16 April 2021: Reference is made to the stock exchange announcement made by Xplora Technologies AS (“Xplora” or the “Company”) on 25 March 2021 regarding the share purchase agreement related to the acquisition of Xplora Mobile Holding AS (“XM“). Xplora is pleased to announce that it today has completed the acquisition of XM. XM has been acquired for a consideration reflecting an enterprise value (EV) of NOK 226,802,000 on a cash and debt-free basis, in addition to a performance-based element of up to NOK 20,000,000 dependent on certain EBITDA and cash flow targets for 2021. The initial consideration has been settled in a combination of cash (37 %) and Xplora shares (63 %). On closing today, Xplora has paid an amount of NOK 80,304,940 in cash and NOK 138,796,739 in Xplora shares at a subscription price of NOK 45.87. The number of consideration shares are 3,025,871, and the issuance of these shares were resolved on in a meeting of the board of directors of Xplora today, pursuant to the board authorization granted by the Company’s extraordinary general meeting held on 13 April 2021. Further to this, the Company’s share capital shall be increased by NOK 12,103.484, and the capital increase is expected to be completed by the end of April 2021, following registration in the Norwegian Register of Business Enterprises (Norwegian: Foretaksregisteret). After the registration of the share capital increase, the Company’s new share capital will be NOK 157,644.316 divided into 39,411,079 shares, each with a par value of NOK 0.004. Each share carries one vote. Xplora will issue a separate announcement when the registration of the share capital increase is completed. For further information please contact: Sten Kirkbak, CEO +47 922 03 710 Mikael Clement, CFO +47 990 08 000 Karen Guillot Ruiz, Business Analyst +47 948 85 859 About Xplora Technologies AS: Xplora is a platform and services company and an industry leader in the market for children’s smartwatches. Xplora was founded to give children a safe onboarding to the digital life and a better balance between screen time and physical activity. Xplora’s vision is to enable children around the world to experience how their everyday activities can create value and make a positive change to the world. The company is headquartered in Norway with operations in leading European markets.