TargetEveryOne: Increases ownership in subsidiary and issues convertible loan
TargetEveryOne AB has increased its ownership in the Norwegian subsidiary ViaNett AS. After an extension of the offer that was issued in March 2016, the holding is now 97.9 percent.
As payment for the minority shares, equal parts convertible bonds and shares in the parent company are offered. The convertible bonds carry a 6 percent annual interest rate. The bonds can until March 30, 2018, be converted into shares in the parent company at the price of SEK 5.01 per share.
Shares in ViaNett AS are given as security for the convertible loan.
The new shares issued as part of half of the purchase price, will also be issued at the price of SEK 5.01 per shares.
Dilution in TargetEveryOne after full utilization, will amount to 8.1 percent, which corresponds to 2,398,803 new shares.
The Board has also exercised its mandate from the Annual General Meeting, to issue convertible bonds to strengthen cooperation to persons who are distributors and licensees. In total convertible bonds for SEK 2.2 million are issued.
The convertible loan carries a 6 percent annual interest rate. The bonds can until 30 March 2018, be converted into shares in the parent company at the price of SEK 5.01 per share.
Dilution in TargetEveryOne after full utilization, will amount to another 1.5 percent, which corresponds to 445,651 new shares.
January 11, 2017
For more information contact
Jan Benjaminson, CFO
Cell: +46 70-666 93 88
Email: jan@targeteveryone.com
This information is information TargetEveryOne AB (publ) is obliged to publish under the EU Market Abuse Regulation and the Securities Market Act and/or the Trading in Financial Instruments. The information was provided by the above contact person's auspices, for publication January 11, 2017 at 5:15 pm.
About TargetEveryOne
TargetEveryOne helps companies build better mobile customer relationships and increase sales with a user-friendly and efficient cloud service for mobile marketing. The company is listed on Nasdaq First North, Sweden, started in the Nordic mobile entrepreneurial environment and now has customers and partners in over 80 countries.
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