Admicom Oyj's subsidiary Tocoman Oy has completed the acquisition of Bauhub OÜ and Admicom Oyj has decided on a directed share issue as part of the acquisition
Unofficial translation of the company release on December 12, 2024 at 10:05 p.m. EET. In case the document differs from the original, the Finnish version prevails.
Admicom Oyj's (”Admicom”, ”Yhtiö”) subsidiary Tocoman Oy has completed the acquisition of Bauhub OÜ ("Bauhub") announced on December 3, 2024, and Admicom's Board of Directors also decided, as part of the acquisition, on a directed share issue to companies owned by Bauhub's operative founding shareholders and key personnel, Teet Parts, Marko Leek and Henri Trees. Bauhub will become part of the Admicom Group as of December 12, 2024.
Strategically, the acquisition expands Admicom's international growth opportunities and market potential, strengthens the Company's value proposition for customers, and enhances cross-selling and upselling opportunities in existing target markets. The acquisition is also well aligned with Admicom's ongoing strategic initiative to consolidate and integrate the Group's software into two stronger entities: ERP solutions and project management solutions
In accordance with the terms and conditions of the purchase agreement, Admicom's Board of Directors decided to offer 18,867 new Admicom’s shares for subscription at a subscription price of EUR 47.70 per share, which corresponds to the volume-weighted average trading price of the Company's share on Nasdaq First North Growth Market Finland between 2.11.-2.12.2024. The Estonian companies OÜ Uus Kuu, Pallene OÜ and Terasaju OÜ owned by Bauhub's operative founding shareholders have subscribed for all the shares offered to them in the share issue.
After the registration of the directed issue, the total number of Admicom shares will increase to 5,007,852 shares. The number of new shares corresponds to approximately 0.38 per cent of the Company's share capital after the directed share issue. The Company has a weighty financial reason for deviating from the shareholders' pre-emptive subscription right in order to ensure the commitment of key personnel, the growth and development of business operations, the implementation of transaction, and partial financing of it. The sellers have committed to restrictions on the transfer of Admicom's shares (Lock-up), whereby the restrictions on the sale of shares will be fully released no later than three years after the subscription of the shares.
The decision on the directed share issue was based on the share issue authorization granted to the Board of Directors by Admicom's Annual General Meeting on March 19, 2024. The shares are estimated to be registered with the Trade Register on December 14, 2024. The shares will be admitted to trading on Nasdaq First North Growth Market Finland maintained by Nasdaq Helsinki Ltd on approximately December 17, 2024, following their registration in the Trade Register.
Admicom Oyj
BOARD OF DIRECTORS
Additional information:
Satu Helamo
Interim CEO
satu.helamo@admicom.com
+358 45 633 7710
Certified advisor:
Oaklins Finland Ltd
+358 09 612 9670
Keywords
Admicom Oyj
Established in 2004, Admicom is a pioneer in system development and a comprehensive software and accounting services partner for small and medium-sized enterprises.
At the core of our service package is the Admicom Ultima ERP system (formerly Adminet), which covers a wide range of solutions for managing customer companies' operations from mobile tools on the construction site to real-time financial monitoring and project management. A highly automated SaaS solution helps SMEs improve their competitiveness and profitability and saves significant time on site and in the office. We also offer our clients training, consulting and accounting services.
Our software family also includes Ultima Lite (formerly Adminet Lite), a cost-effective software and service package for small businesses, Admicom Flex (formerly Hillava), a precision solution for mobile work management, Admicom Vision (formerly Kotopro), which offers modern solutions for higher quality documentation, and a project management unit whose range of services includes solutions for quantity and cost calculation (Estima and Estima Pro), scheduling (Tempo and Planner, formerly Tocoman Aikataulu) and BIM3 solutions for utilising building information models.
We are constantly working to coordinate the functions of our software family in order to provide our customers with a consistent user experience between systems and eliminate
extra work phases, enabling our customers to do more profitable business using modern software solutions.
The continuously growing Admicommunity employs more than 270 people in its offices in Jyväskylä, Helsinki, Tampere, Oulu, Seinäjoki and Turku. More information: www.admicom.com.
Admicom's press releases and financial reports: https://investors.admicom.fi/releases-and-reports
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