ROBIT PLC STOCK EXCHANGE RELEASE 29 JANUARY 2018 AT 2.00 P.M.
ROBIT PLC PURCHASES REST OF HALCO BRIGHOUSE LTD'S SHARES
The Board of Directors of Robit Plc has in its meeting on 29 January, 2018 decided to purchase the rest of the shares (49 percent) owned by its subsidiary, Halco Brighouse Ltd's management. The purchase price of the remaining shares is approximately GBP 0,075 million (approx. EUR 0,086 million). The transaction takes place immediately.
Robit Plc disclosed in its company release on 16 February 2017 that it had purchased a majority of Halco Brighouse Ltd's shares. According to the release Robit Plc has the right and obligation to purchase the rest of the shares owned by Halco Brighouse Ltd's management after a year on the basis of an option agreement. The purchase price of the remaining shares is linked to Halco Brighouse Ltd's net sales of 2017.
Halco has internationalized and redeemed its place in global DTH market as a highly active actor and strong brand under ownership of Robit Group. Halco will be further developed as an independent brand by Robit Plc.
ROBIT PLC
Board of Directors
Further information:
Robit Plc
Harri Sjöholm, Chairman
+358 400 622 092
harri.sjoholm@robitgroup.com
Robit is a strongly internationalized growth company selling and servicing global customers in drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into three product and service range: Top Hammer and Down-the-Hole products as well as Digital Services. Robit has 21 own sales and service points as well as active sales networks in 115 countries. The manufacturing units are located in Finland, South Korea, Australia, UK and USA.
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com