Primetel proceeds with Spidernet squeeze-out

Primetel announced that as part of the process to complete the squeeze out of the remaining share capital held by the shareholders of Spidernet Services Public Limited who had not accepted the Public Offer, the Board of Directors approved the issue of 1,192,864 shares and 199,235 warrants to the shareholders of 1,589,944 shares of Spidernet who accepted the acquisition of the shares against a consideration and also approved the payment of EUR39,052.44 to the holders of 278,946 shares of Spidernet who exercised the option for alternative consideration in cash.
With the issue of the shares and the payment of cash, the Company will acquire 100% of the shares of Spidernet.