AARHUS, Denmark, Aug. 29, 2013 (GLOBE NEWSWIRE) --
As stated in announcement no. 10/2013, Trifork is planning a restructuring to support the company's international growth.
The company's investigation has reached the following preliminary conclusions:
- The company wants to change residence to Switzerland because this is considered to:
- Make the company more attractive to international investors, thereby creating easier access to capital.
- Provide better opportunities for financing of new international acquisitions.
- Contribute to an organizational structure that is aligned with the business processes of the Group. International business development is already being handled out of Switzerland, whereto all other units report.
- A change in the Group's official residence may be done either, by moving the existing listing to a new Swiss company, or by the company being delisted from OMX Nasdaq Copenhangen.
- If a delisting becomes part of the process, then it is the objective of the Board that:
- All shareholders who so wish should be able to keep their shares.
- All shareholders who do not wish to keep an unlisted equity should be able to sell their shares.
- As far as possible enable all shareholders to subsequently trade their shares.
- The company should continue to follow the same accounting policies and practices as previous and maintain a comparable level of information to all shareholders.
- The company should later be listed again on an international stock exchange.
- As part of the restructuring of the Group, Trifork still expects to implement a relatively small issue of new shares.
Trifork was founded in 1996 and is listed on NASDAQ OMX in Copenhagen. It is an innovative software development company focusing on Mobile, Agile and Cloud. It develops and delivers business critical IT systems for several sectors including finance, healthcare, government, manufacturing and telecom. Trifork employs 260 people in 12 offices in Aarhus, Copenhagen, Esbjerg, London, Zurich, Amsterdam, Krakow, Budapest, Stockholm and San Francisco. At the end of 2012 Trifork had a market value at DKKm 243 / EUR 33M, with a turnover in 2012 of DKKm 223 / EURm 30.
Board of directors, Trifork A/S
DK-8000 Arhus C, Denmark
Phone: +45 8732 8787
Fax: +45 8732 8788
CEO, Joern Larsen
Direct: +41 79 430 9697