3 January 2022
As announced in company announcement no. 7/2021 Roblon has signed an agreement to acquire Vamafil spol. s.r.o. 9 December 2021 with acquisition date 3 January 2022.
Completion of the transaction was subject to confirmatory due diligence on a couple of matters, retention of management and other customary closing conditions. This has been done with satisfactory results and the parties have agreed to carry out the transaction as agreed.
The agreed acquisition price for the shares is EURm 8, and preliminary adjustments made for net debt and normalization of working capital have been calculated at 0.7 mEUR. A total of 8.7 mEUR has been paid today, of which 1.5 mEUR is withheld via Escrow agreement as security for the seller’s warranty obligations for 18 months from today’s date.
As previously announced Roblon intends to continue the development of Vamafil’s existing business area. In addition, the acquisition of Vamafil will facilitate Roblon’s growth in its core business within the fibre optic cable industry and strengthen competitiveness and profitability by relocating selected parts of its production facilities from Denmark to the Czech Republic.
With the relocation, Roblon will moreover move geographically closer to the majority of the manufacturers in the European fibre optic cable industry. This means that Roblon’s position will be comparable to that achieved in the USA with the Company’s location in North Carolina. In view of the current COVID-19 resurgence, the planned relocation will be initiated once the spread of the virus has stabilised and the risk of travel restrictions in the Czech Republic and Denmark has been reduced. The relocation is expected to proceed in mid-spring 2022 and be completed by the end of 2022.
Frederikshavn, 3 January 2022
Roblon A/S
Jørgen Kjær Jacobsen Lars Østergaard
Chairman of the Board Managing Director and CEO
Enquiries regarding this announcement should be addressed to:
Managing Director and CEO Lars Østergaard, tel. +45 9620 3300
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