GEOSENTRIC OYJ STOCK EXCHANGE RELEASE October 14, 2013 at 10:35
GEOSENTRIC HAS RECEIVED OFFER FOR ITS GEOSOLUTIONS HOLDINGS N.V. SHARES AND CALLS FOR ANY OTHER OFFERS TO BE DELIVERED BY OCTOBER 27, 2013
GeoSentric has received an offer from its key creditors for the Company’s approximately 24% holding in its former Dutch subsidiary GeoSolutions Holdings N.V. (“GHNV”). The creditors have offered to purchase the GHNV shares at the fixed purchase price of €1,521,228, which corresponds to the repayable amount of the secured debt the Company has from these creditors as of the date of the offer. As a part of their offer the key creditors have additionally undertaken to provide the Company with limited additional funding to enable the Company to continue its operations. This additional funding will be included in the purchase price for GHNV shares with no repayment obligation to the Company.
The Board of Directors has handled the offer and accepted it subject to Extraordinary General Meeting’s approval. The Company plans to publish the invitation to Extraordinary General Meeting on October 15, 2013. The conditional share purchase agreement based on the key creditors’ offer will be published in its entirety as a part of Board’s proposals to the Extraordinary General Meeting.
The Board of Directors calls for any other offers for Company’s GHNV shares to be delivered on October 27, 2013 at the latest so that they can be published and handled in the Extraordinary General Meeting. Any offers can be delivered by mail to the Company’s address or by email at investors@gypsii.com.
GEOSENTRIC OYJ
Board of Directors
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