Oslo ,9 November 2023 The proposed transaction marks EV for the Company atNOK 340 MNOK. PreciseCredit Solutions 17 S.a.r.l. (the "Buyer") will maintain its creditor position towards Questback AS going forward and take a 75% shareholding in the business. The Buyer, the main lender under the Company's bond loan agreement and a minority owner inQuestback Group AS , has decided to increase their ownership in Questback AS. This move demonstrates the Buyer's strong belief in the Company. At the same time,Questback Group AS retains a significant 25% stake in the business and a corresponding upside going forward. Over the past two years, Questback AS has undergone a successful operational turn-around with an ARR of 128 MNOK, positioning itself for remarkable growth. This proposed transaction secures a sustainable and robust financial solution for Questback AS to continue its upward trajectory.Saeid Mirzaie , CEO of Questback AS, expressed his excitement, saying, "This is a remarkable milestone in the proposed transaction and demonstrates the Buyer's confidence in our team and what we do. This transaction will significantly strengthen our ability to continue executing our growth journey."Terje Bakken , Chairman of Questback AS andQuestback Group AS , added "This transaction marks a new chapter for Questback AS, with a strong and supportive partner in Precise Credit Solutions. The enterprise value demonstrates the strong potential and value of our company, even in the face of tough market conditions. We are eager to move forward with the Buyer and the management to continue the value creation journey in Questback." The joint ownership of the Company byQuestback Group AS and the Buyer will be governed by a shareholders' agreement between the two parties setting out the terms of their joint ownership on customary terms. As part of this strategic move,Questback Group AS will retain a 25% stake in Questback AS and intends to apply for a de-listing of the shares from trading on Euronext Growth. A proposal for such de-listing will be presented to the shareholders at the same general meeting, which will also consider the transaction. The reporting and approval of the annual accounts and report for the fiscal year 2022, which has been postponed due to the proposed transaction, will be conducted concurrently. The proposed transaction: Closing of the transaction is expected to be conditional upon various customary closing conditions, including but not limited to approval at the general meeting ofQuestback Group AS of the transaction by a two-thirds majority vote.Questback Group AS has entered into final and binding agreements with Precise Credit Solutions 17 S.a.r.l., being the lender under the Company's bond loan agreement (the "Buyer"), regarding a sale of 75% of the shares in the company's operational subsidiary Questback AS (the "Company") forNOK 1 . As part of the transaction, 100 % of the bonds issued by the Company (the "Bond Loan") will after closing of the Transaction be converted to new equity by a capital increase in the Company with the Buyer as the subscriber and with the new shares issued as preference shares. The share deposit will be settled by a set-off against the current claim the Buyer has against the Company pursuant to the Bond Loan. Questback is a leading provider of SaaS solutions for employee and customer feedback. The company was founded in 2000 and was listed inAugust 2021 on the Euronext Growth exchange inOslo . Find out more about Questback at Questback.com. For further queries, please contact:Saeid Mirzaie Chief Executive Officer Ph. +46 733 414407 Email: saeid.mirzaie@questback.com Cautionary note regarding forward-looking statements: This communication may contain certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. Any such forward-looking statements are solely opinions and forecasts reflecting views as of the date set out on the cover of these materials, which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development, including the risk factors set forth in the Information Document prepared by the Company in connection with the Listing, available at https://newsweb.oslobors.no/message/540413 under the heading "Vedlegg". No liability for such statements, or any obligation to update any such statements or to conform such statements to actual results, is assumed. Furthermore, information about past performance given in this communication is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. The information included in this announcement is considered by the Company to be inside information pursuant to the EU Market Abuse Regulation. Thisstock exchange announcement was published bySaeid Mirzaie , Chief Executive Officer of the Company on9 November 2023 at18:30 CET .
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