I’m not sure why this information is not disclosed in English. Here is just for your information.
The Acquisition Announcement of Excitor A/S by Soliton K.K. (only in Japanese) (as of Nov 28, 2014)
This announcement says that Soliton System K.K., IT company in Japan listed on JASDAQ, acquired 100% shares of Excitor A/S in Denmark, from Verdane Capital.
Before this acquisition, Excitor A/S stocks holders were as follows.
[Stock holders before acquisition]
Soliton K.K. 11.1%
Verdane NVP II SPV K/S 71.5%
Verdane NVP Speed SPV K/S 9.0%
Investteam Holding Aps 3.1%
Verdane NVP II Associates SPV K/S 2.2%
Verdane NVP I SPV K/S 1.5%
After this acquisition, Soliton System K.K. holds 100$ shares of Excitor A/S, i.e. 17,979,861 common stocks.
The acquisition price of Excitor A/S common stocks is 1.00USD (17,979,861 common stocks).
The advisory fee paid by Soliton System K.K. is 1,500,000JPY.
So the estimation price of Excitor A/S per common stock nearly equals to zero.
Based on the disclosure of Soliton System K.K., the consolidated financial status of Excitor A/S at the end of Dec 2013 as follows.
[Excitor A/S consolidated financial status at the end of Dec 2013]
(Unit: million DKK)
Net assets: (24.5)
Total assets: 16.3
Total revenues: 43.1
Gross loss: (7.9)
Loss from operations: (12.3)
Net loss: (11.3)
The entire bank debt of Excitor A/S, 1.2 millions GBP, will be assumed by Soliton System K.K.
*) On Dec 12 2014, Excitor A/S disclosed this news on their web site (Soliton Systems KK Acquires Excitor A/S for Secure Enterprise Mobility Expansion Worldwide). But they naturally said no words about being acquired only for one dolloar. And Verdane Capital still doesn’t disclose this exit.