Allenex acquires all remaining minority interests in the group

Allenex AB (publ) (”Allenex”) has signed an agreement to acquire all SSP Primers AB’s ("SSP Primers") shares in Olerup SSP AB, AbSorber AB, Olerup International AB and Olerup Inc. The acquisition will make Allenex the sole owner of all companies in the Allenex group. At the same time, Allenex acquires SSP Primers’ claim on Olerup Inc. of about 4 million SEK. These acquisitions are financed by loans made available by the company's main bank and by payments from Allenex to SSP Primers over a period of three years.

Pursuant to the agreement Allenex acquires 9% of Olerup SSP AB, 1.9% of AbSorber AB, 25% of Olerup International AB and 50% of Olerup Inc., USA. Following the transaction, Allenex will be in possession of all shares in these companies. Olerup GmbH, Austria, is a by Olerup International AB wholly owned company and it will consequently now be fully owned by Allenex, meaning that all group companies will now be wholly owned by Allenex.

The purchase price for these stock purchases totals 20 million SEK.

The agreement with SSP Primers also stipulates that Allenex acquires SSP Primers’ claim on Olerup Inc. at a price of 4 million SEK. Under the agreement SSP Primers waives further demands on Allenex and other companies in the Group, including accrued interest. The 2014 profits in Olerup SSP AB and Olerup International AB will belong fully to Allenex. The total purchase price will be 24 million SEK. These acquisitions are financed by a new loan from Allenex’ main bank, Danske Bank, totaling 10 million SEK. The remaining amount is funded by Allenex’ cash flow, with payments in three installments of 4 million SEK (Feb 2016), 5 million SEK (Feb 2017) and 5 million SEK (Feb 2018). For the outstanding future payments, a fixed interest rate of 3%, payable annually in arrears, has been agreed.

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Anders Karlsson, CEO of Allenex, comments:
"It is very satisfying that we have been able to acquire all the outstanding shares in the group. We can now focus on the group as a whole and gain a simpler, more transparently structured company. We expect to be able to find synergies to take advantage of while it also becomes easier to understand our business and evaluate what we do."

This transaction does not lead to any significant organizational changes. If Allenex had owned all minority interests in 2014, earnings per share would have been 0.13 SEK, compared to 0.11 SEK without this deal. The return on equity would have amounted to 7%, vs. 8% without this deal. During the past three years, an average yearly dividend of approximately 4 million SEK has been paid to SSP Primers from Olerup SSP and Olerup International. These funds will now instead remain in the group. As a result of this transaction, interest-bearing liabilities in Allenex now total 112 million SEK, also including the debt of 14 million SEK to SSP Primers as outlined above.

For more information please contact:

Anders Karlsson, CEO Allenex AB, and ph.: +4670-918 00 10, e-mail: anders.karlsson@allenex.se

Allenex AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on March 4, 2015, at 08.40 CET. Allenex is a life science-company that develops, manufacture, market and sell products for safer transplants of organs and bone marrow on the global market. Allenex is listed on NASDAQ OMX Stockholm Small Cap (ticker: ALNX). 55 persons are employed in the Allenex group.

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