Wag Payment Regulatory News (WPS)

25 April 2024

W.A.G payment solutions plc

FireTMS restructuring option for remaining 19% equity shareholding

W.A.G payment solutions plc ("Eurowag", or the "Group") a leading pan-European integrated payments and mobility platform focused on the commercial road transportation industry ("CRT"), today announces a restructuring of its call option for the remaining 19% equity shareholding in FireTMS. 

Eurowag acquired an 81% shareholding in FireTMS as part of the Inelo acquisition, with a put and call option being in place for the remaining 19% equity shareholding under pre-agreed terms, exercisable in 2026. Following the period of ownership, Eurowag has decided that it would benefit the Company to utilise the FireTMS' expertise for its new digital platform. Eurowag therefore has today restructured the option mechanism in order to accelerate the FireTMS integration. The maximum option price and final option timing remains the same, however the payments will be phased and subject to new terms. Eurowag will buy 7.6% of the equity shareholding for €3.4m, paid in two equal instalments in April and July 2024. The final 11.4% equity shareholding remains subject to an option mechanism exercisable in H1 2026 and the price is subject to certain financial and KPI targets met by FireTMS. 

Eurowag will be acquiring the remaining 19% of FireTMS from two minority shareholders: Krzysztof Adamczyk and Sebastian Rzytki. As Krzysztof Adamczyk is Director of FireTMS, the restructuring of the put and call option constitutes a smaller related party transaction for Eurowag, falling within LR11.1.10 R. Accordingly, Eurowag has received confirmation from a sponsor, that the terms of the restructuring of the put and call option are fair and reasonable as far as the shareholders of the Company are concerned.

ENQUIRIES

EurowagCarla Bloom

Head of Investor Relations and Communications

+44 (0) 789 109 4542

investors@eurowag.com

Powerscourt

Justin Griffiths, Gilly Lock

IR and international media

+44 (0)20 7250 1446

eurowag@powerscourt-group.com

About Eurowag

Eurowag was founded in 1995 and is a leading technology company and an important partner to Europe's commercial road transport industry, with a purpose to make it clean, fair and efficient. Eurowag enables trucking companies to successfully transition to a low carbon, digital future by harnessing all mission critical data, insights and payment and financing transactions into a single ecosystem and connects their operations seamless before a journey, on the road and post-delivery. http://www.eurowag.com