OTI Greentech AG
OTI Greentech AG: OTI Greentech AG signs agreement to acquire KMI Cleaning Solutions, Inc.
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 |