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Catena Media resolves upon a directed new share issue as payment for assets acquired in December 2017
The board of directors of Catena Media plc (“Catena Media” or the “Company”) has, under the authorization in the articles of association of the Company and in accordance with a press release on 4 December 2017, resolved upon a directed new issue of 468,132 shares at a subscription price of SEK 103.6742 per share, as payment of part of the upfront purchase price for acquired assets in Baybets Ltd.
On 4 December 2017, the Company announced that it had acquired assets in Baybets Ltd. (“Baybets”), one of the leading affiliate marketing players in the sports betting segment focused on the German market.
The upfront purchase price, payable in shares has now been resolved to be issued, following the terms of the agreement. The first earn-out is total EUR 13,524,263.28 of which thirty-five (35) percent is to be paid in shares, which corresponds to 468,132 shares and the remaining part of the payment is to be paid in cash.
In light of the foregoing, the board of directors of the Company has, under the authorization in the articles of association of the Company, resolved upon a directed share issue of 468,132 shares to the seller of the assets.
The subscription price amounts to SEK 103.6742 per share, corresponding to the volume-weighted average price for Catena Media’s share on Nasdaq Stockholm during a period of 30 trading days up to and including 28 November 2018.
Through the share issue, the number of ordinary shares in Catena Media increases by 468,132 shares from 56,286,872 shares to 56,755,004 shares and the share capital increases by EUR 702 from EUR 84,430 to EUR 85,132.
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