Momentum Group proceeding with preparations for separate listing of business area Components & Services on Nasdaq Stockholm
Published 15 september 2021, 12:10
The Board of Directors of Momentum Group AB (publ) has resolved to initiate work to prepare for a separate listing of the existing business area and operating segment Components & Services on Nasdaq Stockholm. The separate listing will be conducted through a distribution of shares in the existing subsidiary Momentum Group Komponenter & Tjänster AB to the shareholders of Momentum Group AB. The aim is to conduct the listing during the first half of 2022.
The Momentum Group currently comprises two strong, operationally independent business areas with separate focus areas and dedicated management teams. In an effort to provide the two business areas with better prerequisites to achieve their goals in an optimal manner and thereby increase shareholder value, the Board of Directors has now assigned Group management the task of continuing the work to split the Group’s operations into two independent companies, as previously announced.
“As two independent listed companies, the two current business areas within Momentum Group will be able to continue their rapid journeys, with Components & Services continuing its work on acquisition-driven growth and Alligo its efforts to realise synergies and economies of scale through the coordination of TOOLS and Swedol,” says Johan Sjö, Chairman of Momentum Group. “This will promote the growth and profitability of both operations and create new opportunities for attractive acquisitions and to more clearly highlight the value created in each company."
As a result of the decision to prepare for a separate listing of the business area, a Board of Directors has been appointed for the subsidiary Momentum Group Komponenter & Tjänster AB, comprising Johan Sjö, Stefan Hedelius, Gunilla Spongh, Ylva Ersvik and Anders Claeson, with Johan Sjö as Chairman.
The Board of Directors also intends to propose to an Extraordinary General Meeting of Shareholders that the company’s name be changed from the current Momentum Group AB to Alligo, since it is planned that the business area Components & Services will be listed under the name Momentum Group.
Stockholm, 15 September 2021
Momentum Group AB (publ)
For further information, please contact:
Ulf Lilius, President & CEO – Tel: +46 10 454 54 70
Niklas Enmark, CFO – Tel: +46 70 393 66 73 / e-mail email@example.com
The information in this document is such that Momentum Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 12:10 a.m. CEST on 15 September.
Momentum Group is a leading reseller of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 9.5 billion and some 2,700 employees. Momentum Group AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.momentum.group.