GEOSENTRIC SIGNS TERM SHEET ON ACQUIRING NEW BUSINESS


GEOSENTRIC OYJ      STOCK EXCHANGE RELEASE January 30, 2013 at 16:15

 

 

GEOSENTRIC SIGNS TERM SHEET ON ACQUIRING NEW BUSINESS

 

GeoSentric Oyj announces the signing of a term sheet regarding the acquisition of Sinophi Healthcare Limited, a company operating in the field of private specialty healthcare, especially in China. The Sinophi business is focused on leveraging its healthcare platform of hospital management, pharmacy outsourcing and the provision of hospital supplies. The transaction would involve acquisition of the entire share capital, shares and votes of Sinophi Healthcare Limited in exchange for newly issued shares of GeoSentric representing 90 % of the GeoSentric shares and votes after the acquisition. As a result of the acquisition, Sinophi Healthcare Limited would become a wholly owned subsidiary of GeoSentric and the shareholders of Sinophi Healthcare Limited would hold 90 % of GeoSentric’s outstanding shares.

 

The acquisition is anticipated to be agreed and closed during the Q1/2013. The acquisition shall be subject to approval by the General Meeting of GeoSentric Oyj.

 

According to the rules of the Nasdaq OMX Helsinki stock exchange, the arrangement means that an extensive change (reverse takeover) would take place concerning GeoSentric Oyj’s business, thus the fulfilling of listing criteria must also be re-evaluated. For GeoSentric Oyj, this means that a new listing application needs to be submitted to the stock exchange and it will be handled in the listing committee. In the arrangement, GeoSentric Oyj will issue an amount of new shares that will require drawing up a new prospectus and having it accepted by the Finnish Financial Supervisory Authority. After the acceptance, the stock exchange will decide on admitting the new shares to public trading.

 

More details on the acquisition and invitation to the Extraordinary General Meeting shall be disclosed within next few days.

 

 

 

GEOSENTRIC OYJ

 

Board of Directors

 

Distribution:

NASDAQ OMX Helsinki

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