Sandefjord, 10 May 2022: Reference is made to the stock exchange release by
Komplett ASA ("Komplett" or the "Company") dated 9 February 2022 on the
combination with NetOnNet AB ("NetOnNet").
As stated in the release, Komplett has financed the NOK 1,500m cash
consideration paid to the NetOnNet shareholder with a bridge loan maturing in
April 2023 which Komplett at the time intended to replace with proceeds from the
issuance of new shares in due course.
The board of directors is of the view that it is in the best interest of
shareholders to reduce the size of the planned share issue in the current
market. The board of directors has therefore decided that no dividend shall be
proposed for 2021 and thereby reducing the need for new equity by approximately
NOK 310m (based on the board's former NOK 2.90 per share dividend proposal). The
Company is also considering refinancing a portion of the remaining part of the
NOK 1,500m bridge loan with long-term debt and thereby further reduce the size
of the planned share issue.
The final financing structure will support Komplett's dividend policy which
remains a pay-out of 60-80% of net profit adjusted for any non-recurring and
special items going forward.
For further inquiries, please contact:
Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com
Krister A. Pedersen, CFO
Krister.Pedersen@komplett.com
About Komplett ASA
Komplett Group is a leading online-first electronics and IT products retailer,
operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and
distribution markets, the Group is deeply focused on delivering best in class
customer experience, built through decades of knowhow, expertise and deep
customer commitment. Komplett Group operates an efficiency and scalable business
model that supports costs leadership and enables a competitive product offering.