June 29th 2022
Correction: Photocat to acquire sustainable de-icer and dust reduction products from Danish Alumichem
Yesterday, Photocat announced that it has agreed to acquire Danish Alumichem A/S’ CMA (Calcium Magnesium Acetate) business. The acquisition is expected to become effective in the third quarter of 2022.
The announcement did not include information about the purchase price and how it will be funded.
The agreed purchase price is DKK 5m, of which DKK 4m will be paid in cash and DKK 1m in shares.
Photocat intends to finance the purchase price through a private placement of 500.000 shares in cash at market price and 100.000 new shares (or less) depending on the market price at the time of issue.
Thus, Photocat expects to issue up to 600.000 new shares to finance the acquisition. This will result in a total of 5.850.000 new shares (or less) compared to the current 5.250.000 shares. The dilution effect will be up to 11.4%.
If you have questions to this announcement, please contact:
Michael Humle, CEO: michael@photocat.net, +45 2210 2523
Pernille F. Andersen, IR: pfa@photocat.net, +45 3093 1887
About Photocat
Photocat manufactures patented coating materials for both outdoor and indoor applications with the effect to degrade NOx and VOC´s when exposed to light. Both NOx and VOC’s are severely damaging to human health. Photocat’s patented technology is a very efficient and an economically viable alternative to many of the traditional technologies targeting NOx. Photocat’s shares are listed on Nasdaq Stockholm, First North with the ticker symbol PCAT. The company’s Certified Advisor is Mangold Fondkommission AB, 08-50301550 – ca@mangold.se.
Photocat A/S is obliged to publicize this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at CET 13:30 on June 29th 2022.
Photocat A/S (publ) l Langebjerg 4 DK-4000 Roskilde l Tel: +45 7022 5055 l www.photocat.net
Attachment
