A significant amount of hidden balance sheet value is released with the transaction. If I have understood correctly, Leden Group has been valued on the balance sheet according to the purchase price of 4,2M, and now 10,8M was received for it, plus a potential additional purchase price of 4,7M. Now Arvo receives approx. 900k Hanza shares as payment (approx. 70 SEK/share), which is >1 share per Arvo unit, and in addition, cash of 5,4M, which is approx. 6,60 euros per unit. At least there is a good chance for a significant increase in the unit dividend even for two years if the additional part of the deal materializes and at least 60% of the profit is paid out as the company’s dividend policy states.
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