LBIcon/Framfab merger closed today
Posted by Susan Scrupski on July 31, 2006
I don’t have time to comment on this today because I’m on deadline. It’s worth posting the press release info, however. I will come back post-deadline with comments.
From the Press Release:
LBI International AB, Europe’s leading digital and interactive agency is born
With today’s registration of the merger between Framfab and LB Icon the leading digital and interactive agency in Europe has been born. The combined entity will adopt its new name, LBI International AB, as of August 1. In addition to the existing listing on the Stockholm Stock Exchange, LBI International AB will as from August 1, be listed on Eurolist by Euronext in Amsterdam. The new company symbol (ticker) on both exchanges will be “LBI”.
The Swedish Companies Registration Office (the “SCRO”) has today registered the merger between Framfab AB and LB Icon AB. The SCRO has also registered the issue of 35,634,133 new Framfab shares which will be used as merger consideration where LB Icon shareholders receive one Framfab share for each LB Icon share. The new shares are expected to be registered on LB Icon shareholders’ accounts on August 1. Following the registration of the merger and the new issue of shares, Framfab has in total 60,522,946 shares outstanding.
The registration of the merger and the new issue completes the merger process from a legal perspective and as a result LB Icon has been dissolved. LB Icon will be delisted from the Stockholm Stock Exchange and Eurolist by Euronext in Amsterdam as of August 1. The last day of trading in LB Icon shares on the Stockholm Stock Exchange was July 26 and the last day of trading in LB Icon shares on Eurolist by Euronext in Amsterdam is today, July 31.
On July 13 Framfab held an extraordinary shareholders meeting where it was resolved that the parent company Framfab AB, subject to the registration of the merger, would change its name to LBI International AB. With today’s registration of the merger such condition has been fulfilled and as of August 1, the merged entity currently known as Framfab AB will be renamed LBI International AB. The completion of the merger process between Framfab and LB Icon and the related name change to LBI International AB marks the creation of the leading digital and interactive agency in Europe.
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