Supplement to the release: Inside information: Digitalist Group has signed a letter of intent to acquire the share majority in Open Communications International AB 10.5.2023

Digitalist Group Plc Inside information May 10th, 2023 at 18:15

Supplement to the release: Inside information: Digitalist Group has signed a letter of intent to acquire the share majority in Open Communications International AB 10.5.2023

Digitalist Group supplements the stock exchange release published on 10.5.2023 at 9:30: Inside information: Digitalist Group has signed a letter of intent to acquire the share majority in Open Communications International AB

The stock exchange release is supplemented with Open Communications International AB’s key figures 2022 and 2021:

Key figures of OC:

	2022	2021
Turnover (MSEK)	14	13
EBITDA (MSEK)	1.4	0.3
EBITDA%	10%	3%
Balance sheet total (MSEK)	6.9	4.7
Equity (MSEK)	2.8	1.6
Liabilities (MSEK)	4.1	3.1

Key figures are presented according to Swedish accounting standards.

The supplemented stock exchange release in full below:

Digitalist Group Plc (“Digitalist Group”) has signed a letter of intent (“LOI”) for a Transaction (“Transaction”) in which Digitalist Group would acquire a majority of the shares in the Swedish company, Open Communications International AB (“OC”) ( www.open.se ) in order to strengthen the expert services within brand, strategy and communications. The seller is David Gray Communications AB (“DGC”), who would stay on as one of the minority shareholders after the transaction.

In the intended Transaction, Digitalist Group would acquire 70 percent of the shares in OC for a total consideration of 5.5 MSEK of which approximately half paid in cash and, the other half by a issuing a maximum of 12 M new Digitalist Group shares to be directed to DGC, following a share purchase agreement to be agreed upon between the parties.

OC is a Swedish, internationally active, agency within brand, strategy, and communications. The company’s turnover in 2022 was around 14 MSEK and with an EBITDA of around 1.4 MSEK. The Company has 9 employees. With the intended Transaction, and together with the group subsidiary Grow AB, the group’s brand development business will be further strengthened.

The Transaction is subject to customary due diligence processes and the acceptance of final terms and conditions. The objective is to sign the final agreement for the Transaction by the end of June 2023.

More detailed information of the Transaction and the financial impact on Digitalist Group will be published separately, once the transaction has been finalized and the final terms and conditions have been confirmed.

Key figures of OC: