ZetaDisplay completed today the acquisition of the Dutch company QYN BV. The acquisition is being carried out in accordance with the agreement entered into with the seller on 24 October 2017, which was made public through a press release issued the same day. In conjunction with the acquisition, ZetaDisplay’s board of directors has resolved to carry out a private placement of shares to the seller in accordance with the conditions previously announced.
ZetaDisplay has today completed the acquisition and acquired all of the shares in QYN.
As made public through a press release issued on 24 October 2017, ZetaDisplay was entitled to pay up to SEK 9.7 million of the purchase price in the form of ordinary shares in ZetaDisplay. ZetaDisplay opted to pay SEK 8.7 million in the form of newly-issued ordinary shares. The subscription price was calculated as the volume-weighted average price for an ordinary share in ZetaDisplay on First North Premier during a period of 30 days prior to the day before the closing date, with a discount of 9.6%, corresponding to SEK 16,99 per ordinary share. The share capital will be increased by SEK 510,823. 510,823 new ordinary shares will be issued. The seller, LMD Beheer B.V, has subscribed for and been allotted 510,823 ordinary shares in ZetaDisplay. Payment through ordinary shares entails a dilution effect of approximately 2.6 percent of the share capital and approximately 2.7 percent of the voting capital. The dilution effect is calculated as the number of newly-issued shares, or votes, divided by the total number of shares, or votes, after the completed new share issue. All newly-issued shares will be registered during the month of November 2017. LMD Beheer B.V, has agreed not to, without the consent of ZetaDisplay, divest the Shares before 31 March 2020.
Advisors
Fredersen Advokatbyrå and Heussen are the legal advisers to ZetaDisplay in conjunction with the acquisition.
In the event of questions, please contact:
ZetaDisplay AB (publ)
CEO Leif Liljebrunn
Telefon: +46 70 845 80 52
E-mail: leif.liljebrunn@zetadisplay.com
The information contained in this press release is the type of information which ZetaDisplay is obligated to publish according to the Market Abuse Regulation. The information was caused to be published by Leif Liljebrunn on 3 November at 1:42 PM.
About ZetaDisplay
ZetaDisplay is a leading supplier of Digital Signage to major retail chains and the service industry on the European market.
Its headquarters are located in Sweden with sales offices in Denmark, Norway, Finland, Estonia and the Netherlands. Since April 2011, the company’s shares have been traded on NASDAQ First North Premier under the ticker name ZETA. The Certified Adviser is Erik Penser Bank.
About Digital Signage and multi-channel communication
ZetaDisplay defines Digital Signage as systems for advertising, profiling and store communications which convey sound, images and films at shops and in public environments. Solutions based on digital screens are a large part of the market, but the development is towards utilizing ever more digital channels in order to communicate offers and other information to customers. This involves solutions which are integrated with social media and websites, as well as applications for smart mobile telephones and tablets which create interactivity with the customer. The development is also towards integrating solutions with the cashier systems of the store chains for automatic price updates and automatic replacement of messages on the digital screens.