31/07/2015 - Sensys Traffic AB (publ) (”Sensys Traffic”) has today completed the acquisition of Gatso Beheer B.V. (”Gatso”).
On 23 June 2015 Sensys Traffic, a leading supplier of traffic enforcement systems, announced its intention to acquire the Dutch company Gatso. An extraordinary general meeting in Sensys Traffic held on 24 July 2015 resolved to inter alia approve the acquisition of Gatso and, in order to execute payment, authorised the board of directors to resolve on new issues of shares and convertibles.
In connection with the completion of the acquisition, the board of directors of Sensys Traffic has today, by using the authorisation from the extraordinary general meeting on 24 July 2015, resolved to issue 115,920,763 new shares (at a subscription price corresponding to SEK 1.2077 per share) to the seller as well as a convertible vendor loan of approximately SEK 64,812,0001) to the seller, as part of payment for the acquisition and in line with the information announced on 23 June 2015.
In connection with the issuance of the new shares Sensys Traffic has prepared a prospectus which has been approved by the Swedish Financial Supervisory Authority. The prospectus will be made available at Sensys Traffic’s webpage, www.sensys.se.
The acquisition of Gatso and the merger of the operations of Sensys Traffic and Gatso will create the largest supplier of traffic enforcement equipment for traffic safety with a strong and unique proposition in the managed services market. The combined company will have presence in Europe, the Middle East, Asia and Australia, and will also have a foothold in the North American managed services market. The combined company will operate under the name Sensys Gatso Group AB.
1) Corresponding to EUR 6,840,000 based on the EUR/SEK exchange rate as set by the Swedish Central Bank per 30 July 2015.
Sensys Traffic is obliged to publish the information contained in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication at 11.45 on 31 July 2015.
For further information:
Gunnar Jardelöv, Chairman of the Board, 46 (0)70-834 81 48
Torbjörn Sandberg, CEO, 46 (0)76-843 43 76
Sensys Traffic is a leading supplier of traffic enforcement systems. Sensys develops, markets and sells systems that are mainly used for speed enforcement and red-light enforcement. The company also provides servicing and maintenance alongside sales of systems. Sensys Traffic’s end customers are primarily police and road authorities throughout the world, as well as private operators. The company sells direct to customers, or via partners, agents and distributors. Sensys Traffic is headquartered in Jönköping and its shares are listed on Nasdaq OMX Stockholm. The company has 42 employees and its sales in 2014 totalled SEK 160.6 million.