TECHNOPOLIS PLC STOCK EXCHANGE RELEASE 26.9.2005 at 6.45 p.m.
TECHNOPOLIS SIGNS PRELIMINARY AGREEMENT ON MAJORITY HOLDING IN
Technopolis Plc, a provider of high-tech operating environments,
has signed a preliminary agreement with Lappeenrannan
Kaupunkiyhtiöt Oy on the acquisition of a majority holding in
Technology Centre Kareltek Inc. The agreement concerns 79 % of
Kareltek Inc’s shares. The remaining shares are held by 65
shareholders, to whom Technopolis will later make an offer aimed
at achieving 100 % ownership of Kareltek Inc.
The acquisition price will be 79 % of EUR 21.7 million, less
Kareltek Inc’s net liabilities at the time of making the
transaction. The acquisition price is estimated to be EUR 8.0 -
8.5 million. Three quarters of the price will be paid in cash and
one quarter in Technopolis Plc shares.
The transaction will be closed under the planned terms and
conditions provided that the due diligence investigations made
and ordered by Technopolis do not raise any obstacles to closure
and that a Technopolis Extraordinary General Meeting approves the
share issue to be proposed later.
Technopolis believes that the combination of the strengths of the
two companies will form an even stronger nationwide service
enterprise for high tech companies. In the view of Technopolis,
the Group formed through the share acquisition will have
excellent opportunities to continue to develop its business
competitively and profitably. Technopolis expects Kareltek’s
Russian expertise to add value to the Group’s operations. The
transaction will also expand the operational and regional
profitability of the Group’s property investments.
Technology Centre Kareltek is a high tech operating environment
in the vicinity of the Lappeenranta University of Technology. The
technology center hosts 98 companies employing 765 persons.
Kareltek Inc’s net sales for 2004 were EUR 3.8 million and its
net profit was EUR 0.6 million. The total surface area of the
office buildings owned by the company is 26,346 floor square
A news briefing on the matter will be arranged for the media at
the Lappeenranta Town Hall on Tuesday, September 27, 2005 at 2.30
Oulu, September 26, 2005
President and CEO
For further information, please contact:
Pertti Huuskonen, tel. +358 400 680 816
Helsinki Stock Exchange
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