Sitowise Group Plc issues 33,394 own shares in a directed issue relating to the acquisition of Positive Impact Finland Oy
Sitowise Group Plc Changes in company's own shares 30 November 2023 at 10.15 a.m. EET
The Board of Directors of Sitowise Group Plc (“Sitowise”) has decided on 30 November 2023, by virtue of the authorization granted by the annual general meeting on 25 April 2023, to issue 33,394 own shares (the "Share") held by Sitowise in a directed share issue. The number of Shares to be subscribed for in the share issue (the “Share Issue”) corresponds to approximately 0.09 per cent of shares in Sitowise.
The Share Issue relates to an acquisition of all shares in Positive Impact Finland Oy, a company offering environmental and sustainability solutions (the “Acquisition”). The completion of the Acquisition has taken place on 30 November 2023.
The Share Issue will be directed to the sellers of Positive Impact Finland Oy (the “Sellers”), who will use a portion of the purchase price to subscribe for Shares in the Share Issue. The subscription price per Share is approximately EUR 2.99, which corresponds to the average volume weighted trading price of the Sitowise’s share on Nasdaq Helsinki Ltd stock exchange during the period of 12 October2023 to 22 November 2023. The subscription of Shares shall be made and paid by 30 November 2023.
The subscribed Shares shall be subject to a transfer restriction for a period of 12 months from the completion of the Acquisition.
The acquisition of Positive Impact Finland Oy strengthens Sitowise's expertise in sustainability services and related digital solutions offered to companies and communities. Positive Impact Finland Oy's services include, for example, carbon footprint calculators, carbon handprint studies, sustainability programs, climate roadmaps, and software related to sustainability. Positive Impact Finland Oy had net sales of 0.4 million euros in 2022 and it employs 7 people at the time of the transaction.
There is a weighty financial reason for the directed Share Issue, as the Acquisition supports the Sitowise Group’s growth and strategy implementation. The Share Issue also commits the Sellers to Sitowise after the Acquisition.
After the Shares issued pursuant to the Share Issue have been conveyed, Sitowise holds a total of 48,675 own shares, corresponding to approximately 0.14 per cent of all shares in Sitowise. The Shares are expected to be transferred to the Sellers on or about 4 December 2023 at the latest.
Sitowise Group Plc
Additional information:
Hanna Masala, talousjohtaja, Sitowise Group Oyj, puh. +358 40 558 1323
Distribution:
Nasdaq Helsinki Ltd
Major media
www.sitowise.com
About Sitowise
Sitowise is a Nordic expert in the built environment and digital solutions. We provide design and consulting services to enable more sustainable and smarter urban development as well as smooth transportation. Sitowise offers services related to real estate and buildings, infrastructure, and digital solutions both in Finland and in Sweden. Global megatrends drive huge changes that require a re-evaluation of the smartness in the built environment – therefore we have set our vision to be Redefining Smartness in Cities. The Group’s net sales were EUR 204 million in 2022, and the company employs more than 2,200 experts. Sitowise Group Plc is listed on the main list of Nasdaq Helsinki as SITOWS.
About Positive Impact Finland Oy
Positive Impact a full-service sustainability agency whose goal is to help our clients identify and manage sustainability issues in a changing world and to work effectively for a sustainable future. Founded in 2019, Positive Impact works as an expert partner for many companies and development projects. In addition to expert work, we also carry out software development and sustainability communication. We have developed, among other things, CO2 calculator for the travel industry for Visit Finland, and a climate management SaaS service called CO2 Roadmap. At the time of the acquisition, Positive Impact employs 7 people. www.positiveimpact.fi
