Sitowise Group Plc’s stock exchange release June 21, 2022 at 11.40 (ESTONIA)
Sitowise Group Plc will issue 171,771 treasury shares in a directed issue related to the acquisition of the company Bitcomp Oy
On June 20, 2022government Sitowise Group Plc (“Sitowise”) has been resolved by authorization of the Annual General Meeting April 20, 2022, to issue 171,771 shares of Sitowise (the “Shares”) in the allotted issue. The number of shares to be subscribed for in the share issue (the “Share Issue”) corresponds to approximately 0.48 percent of Sitowinen’s shares.
The share issue is related to the acquisition of the company’s share capital Bitcomp Oy, a company providing intelligent forest information systems and up – to – date forest analytics based on satellite data (“Procurement”). The share issue will be directed to certain sellers Bitcomp Oy: Jani Heikkilä, Sanna Härkönen, Janne LoikkanenMaarit Louna, Johanna Salmi and Tapani Stjernvall (The “Sellers”) as part of the Acquisition through which the Sellers will use part of the purchase price to subscribe for the Shares of the Offering. The acquisition has been completed June 21, 2022.
The share subscription price is approx EUR 5.68. The subscription price is based on the volume-weighted average trading price of a Sitowise share Nasdaq Helsinki Oy Stock Exchange during the period April 28, 2022 towards June 9, 2022. The subscription of shares will be completed and paid for June 24, 2022.
The Subscribed Shares will be subject to a transfer restriction for a period of 12 months from the completion of the Acquisition.
Bitcomp provides digital services and SaaS solutions to the forest sector and natural resource operators. Bitcomp employs nearly 80 people Finland and in 2021, the company’s revenue exceeded EUR 5.6 million. With the acquisition of Bitcomp and its Leafpoint and Foresta products, Sitowise will more than double its SaaS business with scalable recurring earnings agreements.
Sitowinen’s Board of Directors considers that the Acquisition supports Sitowise Group growth and implementation of its strategy, in addition to which the purpose of the Offering is to bind the Sellers to Sitowis after the Acquisition. Therefore, there is a compelling financial reason for the directed Offering.
Following the transfer of the Shares issued on the basis of the share issue, Sitowise owns a total of 73,884 of its own shares, corresponding to approximately 0.21 percent of all Sitowise shares. The shares are expected to be transferred to the Sellers no later than estimated June 24, 2022 at the latest.
Sitowise Group Plc
Board of Directors
Additional information:
Minttu Vilander, Vice President, Communications and Corporate Responsibility Sitowise Group Plctel. +358 40 575 6660
Distribution:
Nasdaq Helsinki
Main media
www.sitowise.com
About Sitowise
Sitowise is a Nordic expert in the built environment and a digital expert. We offer design and consulting services for smarter and more sustainable urban development and smooth traffic. We operate in three business areas Finland and Swedish: real estate and buildings, infrastructure and digital solutions.
We want to raise the bar for smart and sustainable development, which is why our vision is to be the most responsible partner in developing a prosperous living environment. Sitowise has grown rapidly and profitably in recent years. The Group’s net sales were EUR 179 million in 2021 and the company employs more than 2,000 experts. Sitowise Group Plc is listed on Nasdaq Helsinki under the name SITOWS.
https://news.cision.com/sitowise/r/sitowise-group-plc-issues-171-771-own-shares-in-a-directed-issue-relating-to-acquisition-of-bitcomp-,c3588944
https://mb.cision.com/Main/20385/3588944/1595355.pdf
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