HitecVision's Technor sale falls through at EGM

HitecVision's exit of Technor to Simtronics fell through after the deal failed to secure a sufficient majority vote at the EGM. Around 35% voted against the private placement and thus the rights issue was also subsequently withdrawn. The planned acquisition of Technor would have been paid partly in cash and partly in Simtronics shares for a total consideration of NOK 186.9m.

Technor have been in HitecVision's ownership since June 2006 after a take-private valued at NOK 560m. Forty shareholders were present at the EGM in Oslo, which, together with shares represented by proxy, amounted to 82% of Simtronics shares.

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