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This is paid through a new issue of 102,280,077 shares for a Crown product. The current owner of SENS will own 90% of the merged company, whose name is proposed as Sustainable Energy Solutions Sweden Holding after the completion of the acquisition.
For IQS, the acquisition is a solution to the problems caused by the change of some projects, while SENS sees great opportunities in IQS services and villa operations. Fusion will also mean more muscle to increase market share in large and complex heat and cool projects.
The company's preliminary sales forecast for 2018 is between 80 and 100 million. Due to restructuring costs, investments and development costs, a negative result will be posted this year, which should be positive next year.
As part of the acquisition the company's CEO, Arne Olafssen, chose to leave his position with immediate effect, according to the press release.
At the AGM, SENS representatives will be elected to the Board, after which it is planned to appoint a new CEO. The agreement requires a decision from an extraordinary general meeting of IQS Energy Comfort and a notice will be announced shortly in the press release.
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