QBNK completes acquisition of Exigus

Press Release

QBNK has today completed the acquisition of and access to the shares of Exigus AB.


The purchase price represents, as previously announced, a fixed purchase price of 2 350 000 SEK and an additional price. Of the fixed purchase price paid 258 505 SEK in cash at closing, which is equivalent to the acquisition of 11 shares in Exigus AB. The remaining 89 shares to boost QBNK in a non-cash issue at an issue price of SEK 7, which corresponds to 298,785 shares in QBNK.

Additional purchase consideration amounts to SEK 1 000 000 in the event that net sales for the period 2015-12- 01 to 2016-11-30 amounts to the same net as the financial year 2014. Adjustment will be made SEK by SEK in the event that net sales for the period exceeds or falls below net sales for the fiscal year 2014.

Following the completed share issue will Pontus Uggla AB's holding in QBNK be about 5%. Pontus Uggla AB has 12-month "lock-up" period on the sale of shares received.

Furthermore pays QBNK through a vendor loan 305 112 SEK, which corresponds to retained earnings and profit, after tax, as of 2015-10-31 in Exigus AB. The promissory note matures in equal parts 2016-03-31 and 2016-07-01.


About Exigus

Exigus AB is based in Stockholm and operates in the same industry as QBNK. They have more than 120 customers such as KTH, Fjällräven, the Stockholm County Council, Naturkompaniet, Twilfit and Tullverket. 


About QBNK Holding AB (publ)

QBank's mission is to provide companies and government agencies cloud-based products and services in Digital Asset Management. The company develops their own products and supply them through partners for a provision. Clients are signed to subsrictions of 12, 24 or 36 months. The company has seen a profitable annual growth of 30 - 40% over the last four years.

The ticker symbol for the stock is: QBNK
ISIN code of the company's shares is: SE0007278726

For more information, please contact:

Carl Petruson, CEO
QBNK Holding AB (publ)
Tel: +46 8-459 99 90
e-mail: carl.petruson@qbank.se

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