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2024-06-12 08:49:50
12.6.2024 08:49:47 CEST | Aqua Bio Technology ASA | Inside information
Aqua Bio Technology ("ABT" or the "Company" and together with its wholly owned
subsidiaries, the "ABT Group") entered into an agreement in principle on 11 June
2024 with the shareholders of Jetcarrier AS to acquire all outstanding shares in
Jetcarrier AS (together with its wholly owned subsidiaries, the "Jetcarrier
Group") (the "Acquisition").
The Jetcarrier Group is a logistic and customs clearance expert with advanced
technological capabilities. Jetcarrier Group handles millions of parcels for the
B2B and B2C market every year and has had steady growth since its inception in
2000. The revenues in 2023 were close to 350 MNOK with an EBITDA of 13 MNOK.
Jetcarrier Group's unaudited numbers for the first quarter of 2024 showed an
average growth of 6% in revenues compared to 2023 and 30% in EBITDA. The Q1
numbers are preliminary and should be regarded as estimates. For 2024,
Jetcarrier Group expects to generate revenues of approximately 365 MNOK.
Today, the Jetcarrier Group is working with renowned brands across various
sectors, including Nike, Asendia, Victoria's Secret, HP, YunExpress and several
others. These partnerships underscore Jetcarrier Group's position in global
logistics and its ability to meet diverse industry requirements.
Read more about Jetcarrier Group on: https://www.jetcarrier.com/site/
Through a series of strategic acquisitions, the ABT Group has obtained
significant distribution capabilities within the cosmetics and personal care
domain. With the integration of the Jetcarrier Group, ABT gains essential
expertise in shipping, import/export, customs clearance and warehouse
management. The Acquisition is expected to result in considerable synergies for
the ABT Group, in particularly enhancing the wholesale business and in warehouse
management efficiency. ABT believes that the Jetcarrier Group's advanced
technological capabilities will help ABT improving its technological proficiency
across its various operations.
ABT's completion of the Acquisitions is subject to inter alia the entrance into
a final share purchase agreement, completion of a valuation verification and a
satisfactory due diligence, and approval from ABT's board of directors.
The estimated maximum purchase price under the Acquisition is 241 MNOK, which
shall be settled in a combination of subscription of shares in ABT and cash
payments, detailed as follows:
* 126 MNOK will be used to subscribe to 18 million shares in ABT, at NOK 7 per
share
* 35 MNOK cash payment is due by November 2024
* 20 MNOK cash payment is due by November 2025
* 60 MNOK cash payment is conditional upon Jetcarrier Group achieving a total
minimum EBIT of 73 MNOK for the cumulative financial years 2024-2027
The sellers will commit to a 36-month lock-up period for the shares in ABT.
****
For further information, please contact CEO Håvard Lindstrøm mobile phone +47
941 32 288.
Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skincare products. ABT's cosmetics ingredients are
highly effective and they provide the cosmetics industry with natural
alternatives to traditional ingredients. ABT is also marketing and distributing
natural skincare products developed by partners towards consumers and
professional users. ABT's focus on commercialization and development of natural
ingredients and natural skincare products has been, and will continue to be, an
important part of the Company's strategy going forward. Aqua Bio Technology is
listed on the Euronext Expand market of the Oslo Stock Exchange.
****
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.
This stock exchange notice was published by CEO Håvard Lindstrøm on the date and
time provided.
DISCLOSURE REGULATION
This information is subject of the disclosure requirements pursuant to section
of 5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Håvard Lindstrøm, 004794132288, hl@aquabiotech.no
ABOUT AQUA BIO TECHNOLOGY ASA
Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skin care products. ABT's cosmetics ingredients are
highly effective and they provide the cosmetics industry with natural
alternatives to traditional ingredients. ABT is also marketing and distributing
natural skin care products developed by partners towards consumers and
professional users. Aqua Bio Technology is listed on Euronext Expand.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847556/18136810/4636/Download%20announce
ment%20as%20PDF.pdf