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Annons
SaveLend Group completes acquisition of Finnish P2P pioneer Fixura Ab Oy

SaveLend Group AB (publ) ("SaveLend Group" or "the Company") has today completed the acquisition of all shares in Finnish Fixura Ab Oy ("Fixura"), which was announced on September 20, 2021. The acquisition is another step in SaveLend Group's expansion journey and is intended to accelerate growth in the prioritized Finnish market. Giving investors on SaveLend.se the opportunity to invest in Finnish credits and euros as currency is an important part of the Company's expansion strategy. As payment, the Board of Directors of SaveLend Group has today decided on a directed issue of 2,766,583 shares to the sellers of Fixura.

The transaction in short:

  • SaveLend Group has acquired all shares in Fixura.
  • The purchase price amounted to approximately SEK 25 million on a debt-free basis with deductions for certain transaction costs. The payment was made through a directed issue of 2,766,583 shares in SaveLend Group to the sellers of Fixura.
  • The subscription price in the directed issue amounts to SEK 6.448 per share and has been calculated based on the average closing price for the Company's share in the ten trading days immediately prior to the conclusion of the agreement.
  • After the directed issue, the sellers of Fixura own approximately 5.83 percent of the total number of shares and votes in SaveLend Group.

The acquisition of Fixura gives both investors in Finland and existing Swedish investors an expanded range of investment options via SaveLend.se. The acquisition also means that SaveLend Group keeps its promise to continue working with diversification for its investors through new investment options and increased volumes in euros.

"As of today, Fixura's operations and staff are incorporated into SaveLend Group, and the timing could not be better as it is also today that Finland removes the temporary covid rules regarding credit intermediation. It is a competent and hungry team that is now gaining momentum properly again, and I am convinced that we will show evidence of the potential in the acquisition already during the fourth quarter ", says Ludwig Pettersson, CEO of SaveLend Group.

Issue of shares
The company has acquired all shares in Fixura for a purchase price of approximately SEK 25 million, on a debt-free basis with deductions for certain transaction costs. The purchase price has been paid in full through a directed issue of 2,766,583 shares in SaveLend Group to the sellers of Fixura, which the Board has today decided on with the support of the authorization from the Annual General Meeting on April 26, 2021. The subscription price per share amounts to SEK 6.448 and has been determined based on the average closing price for the Company's share in the ten trading days immediately prior to the conclusion of the agreement. Through the directed issue, the number of shares in the Company increases to 47,492,846, and the share capital increases by approximately SEK 62,876.89 to approximately SEK 1,079,382.88.

The sellers of Fixura will hold approximately 5.83 percent of the total number of shares and votes in SaveLend Group after the registration of the directed issue.

Advisor
Cirio Advokatbyrå AB has been the legal advisor in the transaction and has been assisted by Dittmar & Indrenius Attorneys Ltd. regarding Finnish law.

Source: MFN
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