DGAP-Ad-hoc: OTI Greentech AG / Key word(s): Mergers & Acquisitions/Miscellaneous Public disclosure of inside information in accordance with Article 17 MAR OTI Greentech AG signs agreement to acquire KMI Cleaning Solutions, Inc. Berlin, 30 July 2021 - OTI Greentech (AG ISIN DE000A2TSL22, "OTI"), an international provider of innovative and sustainable chemicals and services for industrial applications listed on the stock exchange in Düsseldorf has entered into a binding agreement to acquire 100 percent of the shares of KMI Cleaning Solutions, Inc. ("KMI") (see ad hoc dated October 15, 2020). The purchase price includes a cash component of US$ 2.762 million, of which US$ 1.120 million is due at the time of acquisition. The remaining amount will be paid in variable installments over time. In addition to the cash component, another 2,996,095 shares will be issued as part of capital increase through contributions in kind. A value per share of EUR 1.18 was agreed. This will increase nominal equity to € 10,514,235 by the end of the 3rd quarter of 2021. After completion of the capital increase, the owners of KMI will become significant shareholders of OTI. The legal implementation and closing of the acquisition is expected by the end of August 2021. After consolidation, OTI expects revenues of approximately € 8.5 million and positive earnings before interest, taxes, depreciation and amortization, EBITDA, in 2021.
Information and Explanation of the Issuer to this News: The 2020 annual report can be downloaded from www.oti.ag under Investor Relations (available in German). Contact: OTI Greentech AG
30-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | OTI Greentech AG |
Friedrichstraße 79 | |
10117 Berlin | |
Germany | |
Phone: | +49 30 887 865 62 |
Fax: | +49 30 690 884 88 |
E-mail: | info@oti.ag |
Internet: | www.oti.ag |
ISIN: | DE000A2TSL22 |
WKN: | A2TSL2 |
Listed: | Regulated Unofficial Market in Dusseldorf |
EQS News ID: | 1222925 |
End of Announcement | DGAP News Service |
|
1222925 30-Jul-2021 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.