|
|||
2007-12-19 10:00:00 CET 2007-12-19 10:00:00 CET Done Solutions Oyj - Tender offerDONE SOLUTIONS ACQUIRES THE STOCK CAPITAL OF MIDAS TOUCH OYDone Solutions Corporation Stock Exchange Release December 19, 2007, 11:00 a.m. DONE SOLUTIONS ACQUIRES THE STOCK CAPITAL OF MIDAS TOUCH OY On December 18, 2007, Done Solutions Corporation has acquired the entire stock capital of Midas Touch Oy and GDZ Markkinointi Oy from Timo Juurakko, Sami Latva and Markku Pihlajaniemi. Midas Touch Oy owns 100% of its subsidiaries Midas Tech Oy, Midas Touch Gateway Oy, Midas Touch Interactive Oy and Midas Touch Care Oy, all active in business, and 81 per cent of Midas Touch Media Oy. The transaction is based on a share swap according to which Done Solutions Corporation offers 7,500,000 new shares. The subscription price per share is EUR 0.66, which corresponds to the closing price of Done Solutions Corporation's share on Monday, December 17, 2007. Waiving the shareholders' pre-emption rights, this private placement is based on the share-issue authorization given by the Annual General Meeting of April 3, 2007. The unexercised share-issue authorization of the Board of Directors covers 23,500,002 shares after the transaction. As a result of the private placement to Timo Juurakko, Sami Latva and Markku Pihlajaniemi, Done Solutions Corporation's number of shares will increase by 7,500,000 shares, from 68,436,482 to 75,936,482. Furthermore, the transaction will include an additional share swap in addition to the one cited above, with the sellers of Midas Touch Oy receiving 10-60% of the company's profit from 2008-2010 in the form of a Done Solutions Corporation rights issue each year. The new shares issued under the swap will be valued at their average closing value weighted by the number of shares traded in January in the previous year. Midas Touch is Finland's leading, rapidly growing Contact Center and telemarketing company, operating in six localities. The Pieksämäki Technology Center specializes in expert services for the IT sector, managing HelpDesk operations for leading Finnish IT service providers. Highly trained professionals, qualified with a Diploma in Business Information Technology, form the core staff. Certain services operate on a 24/7 basis. The Lapinlahti and Iisalmi service centers specialize in the public sector, in managing a variety of special tasks in the care sector, in health care services, in social sector travel center services and in serving major customers in the financial sector. The Jämsä Media Center focuses on expert services for the television and media sector, with a customer base mainly comprising large firms in the electronic media industry. Furthermore, the Media Center provides services for major customers in the insurance sector. The Lappeenranta Gateway Center specializes in services rendered by the company's international customers. Special expertise and customers in the tourism sector, alongside expert services provided in the Russian language, are centered in the Gateway Center. At present, business targeted directly at Russia is minor, but it is expected to form one of the main growth areas for the whole company in the next few years. The Helsinki Service Center focuses on solutions providing services for the public sector. The company is based in Lapinlahti and has a staff of 520 (www.midastouch.fi). In the financial year 8/2006 - 7/2007, the company posted net sales of EUR 10.5 million and its operating profit was EUR 0.5 million. The company's audited financial figures over the last three financial periods were as follows: INCOME STATEMENT (MEUR) 8/06-7/07 8/05-7/06 8/04-7/05 Net sales 10.5 8.5 5.4 Operating profit 0.5 0.4 0.4 Pre-tax profit 0.5 0.4 0.4 Net profit 0.3 0.2 0.3 BALANCE SHEET (MEUR) 31.7.2007 31.7.2006 31.7.2005 Non-current assets 0.6 0.3 0.2 Current assets 2.4 1.7 1.4 Total assets 3.0 2.0 1.7 Shareholder's equity 0.4 0.3 0.3 Minority interest 0.1 0.1 0.0 Long-term liabilities 0.5 0.1 0.1 Short-term liabilities 2.0 1.6 1.2 Total liabilities & shareholder's equity 3.0 2.0 1.7 The CEO and former owner of Midas Touch Oy, Timo Juurakko (44), will continue working for the company in his old position. “Midas Touch is now taking the next step by finding its way into good company and, simultaneously, becoming part of a listed corporation. The former owners will still be owners via a share swap and the management will not change. We are confident that Done will provide outstanding support for our growth. It is good to become one of Done's growing and highly profitable subsidiaries. Simultaneously, we will provide a significant increase in Done Solutions Corporation's net sales and earnings per share. We also value the fact that Midas's ownership is remaining in Finnish hands. I expect Midas to increase its profits markedly next year”, comments Mr. Juurakko. “The acquisition of Midas Touch is in line with Done Solutions Corporation's strategy of growth, based on complementing our Group through the acquisition of the shares of Finnish, well-managed profitable companies with specialist expertise. Midas Touch is an outstandingly managed, intensively growing company providing outsourced customer services based on modern technology. The company's customer base is very broad, which means that the company is extremely well equipped for rapid and continuous profitable growth. The acquisition of Midas Touch will increase Done Solutions Corporation's net sales and operating profit considerably next year”, states Olli-Pekka Salovaara, CEO, Done Solutions Corporation. Done Solutions Corporation Olli-Pekka Salovaara President & CEO For further information, please contact: Olli-Pekka Salovaara, President & CEO, mobile +358 040 5675520 olli-pekka.salovaara@donesolutions.com Timo Juurakko, CEO, mobile +358 50 464 9411 timo.juurakko@midastouch.fi http://www.donesolutions.com Distribution: Helsinki Stock Exchange Financial Supervision Authority Major media Done Solutions Corporation, listed on the OMX Helsinki Stock Exchange, is the parent company of Done Group. Done's subsidiaries focus on the provision of advanced Finnish specialist expertise and export-based operations. |
|||
|