Further success within Asia leads GWS Production into the buy out of the contract with current sales partner GWS Asia in Malaysia.
The deal ensures greater control of business in the area and reduces commission costs for GWS Production.
GWS Asia was started as an externally owned sales company to sell and market GWS services in the region. GWS Production now estimates that as sales develop positively, specifically in Southeast Asia, then it is important to control the entire sales chain without additional commission costs. This buy out also improves the cash flow for GWS Production.
“The business in Asia is about to expand and we need a different structure,” said GWS CEO Andreas Rodman.
By the agreement GWS will buy out GWS Asia with a purchase price of 1 786 000 SEK. The compensation will be paid by issuing 611 162 shares in GWS Production AB for a subscription price of 2,9223 SEK (which corresponds to the volume weighted average price for 10 trading days from 15 May to 28 May). The new issue resolution will be passed by the board based in the authorization granted by the Annual General Meeting on 29 May 2018 and subscription of the shares will be made no later than 2 July 2018.
For additional information, visit www.globalwarningsystem.com or contact
GWS CEO Andreas Rodman: +46 (0) 708 – 10 13 16. firstname.lastname@example.org
About GWS Production AB and Safeture
GWS (Global Warning System) was founded in 2009 following a number of historic events namely the outbreak of a global SARS epidemic, the 2004 Indian Ocean tsunami and the Mumbai terror attacks. GWS supply Safeture, a mobile device based personal security service developed to protect the traveler by providing real-time tracking and valuable information regarding ongoing disasters and other threats that could impact them.
The GWS share is listed on NASDAQ First North Stockholm. Penser Bank AB is the Certified Advisor.
This information is information that GWS Production AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.00 CET on 25 June, 2018.