- Share Purchase Agreement for acquisition of Swedish consumer credit company
Captum Group AB ("Captum") fromStena Adactum AB ("Adactum"), and - Investment Agreement with Adactum for subscription of 1.5 million shares in Lea and issue of 3.6 million warrants (depending on approval from the general meeting in Lea), and
-
Strategic Cooperation Agreement with
Stena Line Scandinavia AB andStena Line Travel Group AB
Stena is one of the largest family-owned companies in
Adactum is Stena's investment company that acquires companies focused on growth and profitability, and holds ownership positions in 11 portfolio companies in the Nordics. Adactum's investment strategy is value creation through long-term ownership.
Captum is a
Strategic cooperation with Stena
The cooperation agreement makes Lea the exclusive consumer finance partner for Stena.
Stena has been looking for a financing partner with a good track record and to support our retail companies, says
The Investment Agreement - Private placement and warrants
Adactum has agreed to subscribe for 1.5 million shares (1.58% of the current share capital of Lea) at an issue price of
Adactum will be granted 3.6 million warrants with the following structure, subject to approval by the Lea General Meeting:
- 1,200,000 warrants with Strike of
12.40 NOK per share, with 12 months vesting period -
1,200,000 warrants with Strike of
14.40 NOK per share, with 24 months vesting period -
1,200,000 warrants with Strike of
16.40 NOK per share, with 36 months vesting period
- 1,200,000 warrants with Strike of
Exercise of the warrants as set out in number 1, 2 and 3 above are conditional upon Lea and Stena reaching defined milestones in the cooperation agreement.
Shares issued through the private placement and by use of the warrants will be subject to customary lock-up provisions for a period of 24 months from such new shares are registered with the Register of
The board of Lea will in due course convene a general meeting to issue the warrants.
Acquisition of Captum
Lea acquires 100% of the shares in Captum. The transaction is subject to approval by Swedish and Norwegian financial supervisory authorities and certain other conditions. As a result of the transaction, Captum will become a Swedish subsidiary of Lea. The transaction will not have material impact on the equity of Lea.
With this transaction we expand our distribution capabilities in the Swedish market, and we are pleased to welcome a large and successful company like Stena as owner and strategic partner. This cooperation and acquisition of Captum supports our strategy to strengthen our presence in the Swedish market, says CEO in Lea bank Oddbjørn Berentsen who looks forward to the cooperation with
The information included in this announcement is defined as inside information pursuant to article 7 of the Market Abuse Regulation and is publicly disclosed in accordance with article 17 of the Market Abuse Regulation. The announcement is made by the contact person.
Contact:
Oddbjørn Berentsen, CEO
Phone: +47 22 99 14 00
E-post: ir@leabank.no
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