SANDPIPER Digital Payments AG discloses details of the carve out (english)
- Major shareholder of SANDPIPER informs the company about details of the carve out
- Share exchange ratio on the basis of CHF 0.21 per SANDPIPER share
- Free float will be significantly increased after closing
St. Gallen / Switzerland, 18th of December 2017: SANDPIPER Digital Payments AG (BX Berne eXchange, Ticker: SDP, www.sandpiper.ch, Open Market,
Frankfurt, ISIN: CH0033050961), with focus on digital payment systems and access control solutions, discloses details about the carve out announced on the 13th of December.
Thereby, Mountain Partners AG, the largest shareholder of SANDPIPER, is offering its shareholders SANDPIPER shares in a shareswap. MPAG shares will be bought back at a price of CHF 32.50 per share, whereby the purchase price is not paid in cash, but in the form of SANDPIPER shares at a price of CHF 0.21 per share. The exchange ratio as well as the value of both shares were confirmed as appropriate in a fairness opinion from EY Ernst & Young, Zürich. The closing of this transaction is not expected before the end of January 2018.
As already published in the company announcements on the 5th and 13th of December 2017, the results could include a changed shareholder structure and expansion of the free float, which would also enable the entry of new institutional and strategic investors. This announcement constitutes neither an offer to sell, nor a request to buy or subscribe securities.
About SANDPIPER Digital Payments AG
SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed holding company with a focus on innovative payment systems, solutions for marketing and customer retention as well as IT-services, access control and security. The company ranks amongst the leading and largest operators of closed- and open-loop proximity payment solutions in field of high schools, events and digital content networks.
SANDPIPER holds a majority stake in the companies Multicard NL B.V., InterCard AG Informationssysteme, Ergonomics AG, IDpendant GmbH as well as PAIR Solutions GmbH.