Cherry has called on the option to acquire an additional 7.5 percent of the shares in Almor

Cherry has called on the option to acquire an additional 7.5 percent of the shares in Almor

Cherry AB (publ) – STO: CHER-B.ST, has resolved to call on the option to acquire addition 7.5 percent of the shares in the Maltese company Almor Holding Limited (Almor). The company is an operator of onlince casino and sportsbook in primarily German-speaking countries. Following the acquisition Cherry will own 90.0 percent of the shares in Almor.

 Following continued favourable development of Almor’s group of brands, Cherry has resolved to call on the option to acquire additional 7.5 percent of the shares in the company. The purchase price for Almor Holding Limited will, according to the agreement amount to approximately EUR 4.4 million and to be paid through a combination of equal portions cash and newly issued shares in Cherry AB (publ). The share issue in Cherry AB (publ) has been proposed to be established by the shareholders in the Annual General Meeting on 30 May 2018.

 Cherry’s current holding in Almor amounts to 82.5 percent and will amount to 90.0 percent following the transaction has been completed. Cherry holds the right to utilise its option to buy the remaining shares in Almor in the first six months of 2019. The option to acquire additional shares is based on a multiple of five times EBIT, calculated as an average of the years 2017 and 2018.  

For further information, please contact:

Anders Holmgren, CEO: +46 708 607 534, This email address is being protected from spambots. You need JavaScript enabled to view it.
Christine Rankin, CFO, tel: +46 765 399 492, This email address is being protected from spambots. You need JavaScript enabled to view it.
Anders Antonsson, IR & Communications: +46 709 994 970, This email address is being protected from spambots. You need JavaScript enabled to view it.

This information was submitted for publication on 30 April 2018, at 5:00 p.m. CET.