Hemply Balance is listed on the Nordic Growth Market (“NGM”) – a part of the Stuttgart Boerse Group.
The memorandum stipulates that the current ±1,500 shareholders of Hemply would hold 4% of the resulting post-Transaction shares. Dendrio shareholders will receive shares pro-rata to their current holdings, amounting to 96% of the post-Transaction shares.
The transaction is intended to close in Q4 2024, after some conditions are met, including Satisfactory reciprocal due-diligence, agreeing on and signing a share purchase agreement, approval by NGM of the transaction, Hemply´s approval at the EGM, Swedish Financial Supervisory Authority clearance.
The Transaction is conditional on the Swedish Securities Council granting majority shareholders of Dendrio customary exemption from the mandatory bid requirement (i.e., ownership exceeding 30% following completion of the Transaction).
„Post the Transaction the combined company will be one of the largest 20 companies on the NGM, with more than 1,500 shareholders which will allow the continued development of its Digital Infrastructure business unit of Bittnt group, on a European scale, by providing access to capital to fund the company’s organic growth and growth through acquisition,” reads Bittnet’s report.
Aalto Capital LLP, in London is acting as the exclusive financial advisor to Bittnet Systems in relation to this Transaction.
(English version by Catalina Apostoiu)