Acquisition Closing, Issue Delayed: Talkpool - LCC Pakistan- A Talkpool Company

Due to technicalities related to the emission and trade of subscription rights between Sweden and Switzerland, Talkpool cannot carry out the acquisition and rights issue as earlier announced. Talkpool, therefore, plans to carry out a new issue that does not involve subscription rights. The issue will be directed to existing shareholders and the Swedish public. Talkpool’s board is committed to giving preferential treatment to existing shareholders and lenders despite the administrational hurdles. A new extraordinary shareholders meeting is expected to be held around mid-September, and the complete emission is expected to be completed before the end of October 2017. An invitation with further information and exact dates for the upcoming new share issue will be announced shortly.

Talkpool has through loans already received sufficient cash to close the acquisition of LCC Pakistan (Pvt) that was signed on the 21st of June 2017. Talkpool plans to close the acquisition by paying 4.0m US$ around the 1st of September this year if all closing conditions have been fulfilled by then.

Lender information:

Mr Sparrholm paid 11.28 mkr on 12th June and receives 0% interest
Calypso Real Estate Ltd paid CHF 500’000 on the 19th of June and receives 6% annual interest. In addition, Mr Guggenheim receives 5% in commission payable in shares for brokering the convertible loan, which will become convertible at maximum 36 kr per share
The guarantors paid approximately 13 mkr on the 3-4 July and receive 2% per month interest (in addition to 10% guarantee fee on the 9mkr guarantee amount)
Mr Fresenius paid 10.5 mkr to TalkPool on the 9th of August and receives 0% interest. In addition, Mr Fresenius has paid 0.5 mkr to Sparrholm / Strömstedt

In summary, the acquisition is hence likely to be closed as scheduled, whereas the issue will be delayed. Learn more on LCC Pakistan News.

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