Cherry acquires an additional 4 percent of the shares in Almor Holding Ltd
Cherry has acquired an additional 4 percent of the shares in Almor Holding Ltd (Almor), a leading online casino business specialising in German-speaking markets. Cherry acquired 71 percent of the shares in Almor in July 2015 and after today’s acquisition Cherry owns 75% of the company. Almor has continued to perform above expectations and during the first half of 2015 turnover amounted to 7.2 MEUR, while operating profit reached 1 MEUR. The business is consolidated within the Cherry group from July 1.
The purchase price for the additional 4 percent of the shares in Almor Holding Limited is paid in cash and amounts to 0.76 MEUR (7.1 MSEK). Cherry has the right to buy the remaining part of Almor within the next four years and five months. The purchase of any additional shares will be based on an operating profit (EBIT) multiple of 5.
If Cherry decides to utilize its option to buy additional shares, the payment can be made either through shares in Cherry or in cash. In such a case, the shares will be valued based on the average closing price in the three (3) trading days prior to and the three (3) trading days including and following the announcement day.
Translation
This is a translation of the Swedish original.
For further information, please contact:
Fredrik Burvall, CEO Cherry AB (plc), Telephone +46 8-514 969 52, +46 709 279 632, Email: fredrik.burvall@cherry.se
Cherry in brief
Cherry is a Swedish gaming company established in 1963 specialized in online casinos and lotteries; (www.cherrycasino.com, www.EuroLotto.com, www.EuroSlots.com, www.SpilleAutomater.com, www.NordicSlots.com,www.NorgesSpill.com, www.SveaCasino.com, www.Sunmaker.com, www.Sunnyplayer.com and www.Kingplayer.com), affiliate business through Game Lounge and games development (www.Yggdrasil.com), through subsidiaries in Malta. Cherry is the market leader in casinos in restaurants and nightclubs in Sweden. Cherry employs around 750 people and has more than 2,600 shareholders. The Company's B-shares are listed on AktieTorget.
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