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Cherry AB (publ) – STO: CHER-B.ST, has resolved to call on the option to acquire addition 7.5 percent of the shares in the Maltese company Almor Holding Limited (Almor). The company is an operator of onlince casino and sportsbook in primarily German-speaking countries. Following the acquisition Cherry will own 90.0 percent of the shares in Almor.
Following continued favourable development of Almor’s group of brands, Cherry has resolved to call on the option to acquire additional 7.5 percent of the shares in the company. The purchase price for Almor Holding Limited will, according to the agreement amount to approximately EUR 4.4 million and to be paid through a combination of equal portions cash and newly issued shares in Cherry AB (publ). The share issue in Cherry AB (publ) has been proposed to be established by the shareholders in the Annual General Meeting on 30 May 2018.
Cherry’s current holding in Almor amounts to 82.5 percent and will amount to 90.0 percent following the transaction has been completed. Cherry holds the right to utilise its option to buy the remaining shares in Almor in the first six months of 2019. The option to acquire additional shares is based on a multiple of five times EBIT, calculated as an average of the years 2017 and 2018. For further information, please contact:
Cherry is a Swedish innovating and fast-growing company with operations in gaming, entertainment and media. The company was established in 1963 and today operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.
Source: European Gaming Industry News