Negotiations with Pendum concerning compensation finalized
During 2011, Loomis acquired the US cash handling business of Pendum. In connection with the acquisition, the parties made an agreement that Loomis would be eligible for compensation if certain customers chose to diversify their suppliers of cash handling services following the acquisition.
During the fourth quarter of 2012, a first installment of USD 4.9 million (approximately SEK 33 million) was received. The negotiations are now completed and the remaining compensation amounts to USD 6.3 million (approximately SEK 41 million) and will, similar to the first installment, be reported as acquisition-related income during the first quarter of 2013. Acquisition-related income is not included in the operating result (EBITA).
In aggregate, the total compensation amounts to USD 11.2 million (approximately SEK 74 million).
Lars Blecko Anders Haker
President and CEO CFO
Loomis offers safe and effective comprehensive solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network consisting of almost 400 branch offices in 16 countries. Loomis has 20 000 employees and annual revenue of 11 billion Swedish kronor. Loomis is a midcap listed company on NASDAQ OMX Stockholm.
Loomis AB discloses the information provided herein pursuant to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 2.45 p.m. (CET) on March 14th, 2013.