DAT increases its shareholding in Sylog Sverige AB
Data Respons ASA ("DAT") has entered into an agreement with QTOB AB to acquire 8 % of the shares in Sylog Sverige AB ("Sylog"), and thereby increasing DAT shareholding in Sylog from 75% to 83% of the shares.
It has been agreed a consideration of NOK 19 861 680 paid in DAT shares through a private placement at the closing of the agreement, with an additional earnout payment in 2018 depending on the growth in the company's actual EBIT for 2017.
The Board of Data Respons ASA has approved a private placement of 724 877 shares to QTOB AB. The placement price is based on the weighted average traded price of the Data Respons share on the Oslo Stock Exchange the first 15 trading days in May 2017, resulting in a share price of NOK 27.40.
The transaction is expected to close within June 2017. After the transaction the number of shares outstanding will increase from 50 711 280 shares to 51 436 157.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913 90 918.
About Data Respons
Data Respons is a full-service, independent technology company and a leading player in the IoT and the embedded solutions market. We provide R&D services and embedded solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as Medical, Industry Automation, Smart grid/Smart home, Bank and Insurance, Automotive, Defence, Maritime, Energy and Telecommunications.
Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Norway, Sweden, Denmark, Germany and Taiwan. www.datarespons.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.