EQS-Adhoc: Allterco JSCo acquires 60% of the Slovenian IoT provider GOAP doo

Allterco JSCo acquires 60% of Slovenian IoT provider GOAP doo

Sofia / Munich, January 03, 2023 – Allterco JSCo (Ticker A4L / ISIN: BG1100003166) (“Allterco“) today announced the first phase of the acquisition of Slovenian IoT provider GOAP Raunalniki ineniring in avtomatizacija procesov doo (“GOAP” or the “target company“), which consisted in the acquisition of 60% of the capital of the target company. The transaction is based on contracts for the sale of company shares (“SPA’s“), which were signed today with all four GOAP shareholders. The total purchase price for the first phase transactions is EUR 2 million.

The remaining 40% interest, held by three individual GOAP shareholders, is subject to an option agreement signed with the SPAs. Under the terms of the option agreement, Allterco will receive unconditional call options and the selling shareholders will receive conditional put options on two packages of shares (the exercise of each of the options by the sellers is subject to the achievement of certain minimum criteria for KPI, EBITDA and sales in the period 2023 to 2025). One option is 16% of the GOAP common stock and the other option is 24% of the GOAP common stock. The total price for company shares in case of exercising the options depends on the extent to which the relevant conditions are met and can range from EUR 699,999.70 (BGN 1,369,080.41) to EUR 3,449,998.60 (BGN 6,747,610, 76) lie.

The transactions will be carried out in accordance with the decision of the December 2022 general meeting of shareholders of Allterco.

With the takeover, Allterco wants to expand its technology portfolio and thus expand its product range for customers and professional users.

For more information please visit allterco.com.

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