Formpipe has completed the acquisition of the remaining shares in Formpipe Intelligo AB
Formpipe Software AB (publ) (”Formpipe”) has completed the acquisition of the remaining 35.1 per cent of the shares in the subsidiary Formpipe Intelligo AB ("Formpipe Intelligo").
As previously announced in March 2018, Formpipe entered an agreement to acquire the minority stake of 35.1 per cent of the shares in Formpipe Intelligo from Staffan Hugemark, with a purchase price amounting to SEK 10.7 million. Payment should be made with newly issued shares in Formpipe. In April 25, the Annual General Meeting decided about newly issued shares. The final number of shares in Formpipe was to be paid as non-cash consideration for the shares in Formpipe Intelligo corresponding to the volume weighted average price paid in accordance with Nasdaq Stockholm's official price list for the shares in Formpipe during the period from April 19, 2018 to April 27, 2018. Based on the established share price of SEK 15.23, the final number of shares to be made as payment is 699,805 shares. Because of this, the number of shares in the company will increase to 52,572,830 and the share capital will increase by SEK 69,980.50 to SEK 5,257,283.00. Formpipe Intelligo is a wholly-owned subsidiary to Formpipe after the acquisition.
For additional information, contact:
Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85
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This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.
This information is information that Formpipe Software AB is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication at 12:00, May 2, 2018.
Formpipe develops ECM products and solutions for structuring information and supplies them to major companies, authorities and organisations. ECM products help organisations to capture, manage and distribute information, and to place it in context. The company’s software helps improve efficiency, cut costs and reduce risk exposure. Formpipe was founded in 2004 and has offices in Sweden, Denmark, United Kingdom, The Netherlands, Germany and USA. The Formpipe share is listed on NASDAQ Stockholm.