Torp Computing Group ASA

More documents

Recommendations

Info

36 INFORMATION MEMORANDUM Merger of Komplett ASA and Torp Computing Group ASA The goodwill resulting from the Merger will be subject to impairment testing. Other intangible assets resulting from the Merger will be subject to amortization. TCG’s interest bearing debt will be included in the Merged Company’s balance sheet The company's ambition is to offer European end-users the best selections of products, prices and customer service available with a view to computer equipment, consumer electronics and appliances. Improved economies of scale and mutual development are among the areas in which synergies are expected. The brand names Komplett, MPX, Itegra and Norek will be continued. The merger is motivated by ambitions of growth. The Merged Company aspires to achieve a healthy balance between growth in sales and profits. The company’s strategy of continued geographical and product-related expansion stands firm. Komplett focuses on prompt delivery and therefore on extremely low order backlogs. This, combined with innovative marketing efforts, tends to limit visibility. E-commerce is expected to continue to win a rising share of the overall market for the products that Komplett offers. With increasing competition and falling prices, Komplett must work to keep its customers satisfied and work continuously to streamline operations. The project to automate parts of the warehouse facilities in Sandefjord is expected to be increased as a result of this merger. TCG’s ongoing construction of a logistics center in Sandefjord will be coordinated with Komplett’s existing infrastructure. The goal is to reduce relative warehousing costs substantially, increase delivery capacity and improve customer service by cutting delivery time even further.
37 INFORMATION MEMORANDUM Merger of Komplett ASA and Torp Computing Group ASA 6 INFORMATION ABOUT KOMPLETT 6.1 Introduction Komplett is one of the leading European companies in Internet shopping, and the operations include the Internet shops Komplett.no, Komplett.se, Komplett.co.uk, Komplett.ie, Komplett.nl, Komplett.be, Komplett.de, Komplett.at, Komplett.dk, Komplett.fr, Norek.no, Af.komplett.se and inWarehouse.se. Komplett offers computer components, PCs, home electronics, white goods and related equipment to end-users and dealers. The revenue in 2006 was NOK 2 249 million and Komplett has more than 1 600 000 registered customers in Norway, Sweden, UK, Ireland, the Netherlands, Belgium, Germany, Austria, Denmark and France. 6.2 Incorporation, registered office Komplett ASA is a Norwegian public limited liability company pursuant to the Norwegian Public Limited Companies Act of 13 June 1997 no. 45 with registered office in Østre Kullerød 4, 3241 Sandefjord, Norway, with telephone +47 33 45 42 00 and telefax +47 33 45 42 01. Komplett’s registration number is 980 213 250. The company was incorporated 30 June 1998 and registered 2 November 1998. 6.3 History The table below illustrates some important events in Komplett’s history: 1991 Norek established 1996 Started with e-commerce: Komplett.no 1999 Norkom established (merger between Norek and Komplett Data). Later changed name to Komplett 2000 Listed on OSE. Komplett.se established 2001 Komplett.co.uk established 2002 Komplett.ie established 2003 MBO Komplett Data retail stores. Dutch warehouse established 2004 New ERP system (SAP). Komplett.nl established 2005 Offering consumer financing. Komplett.be established 2006 Komplett.de, Komplett.at and Komplett.dk established. Offering white goods online. 2007 Komplett.fr established. Acquisition of inWarehouse AB. Proposed merger with Torp Computing Group ASA
Page 1 and 2: INFORMATION MEMORANDUM in connectio
Page 3 and 4: TABLE OF CONTENTS 3 INFORMATION MEM
Page 5 and 6: 5 INFORMATION MEMORANDUM Merger of
Page 23 and 24: Lars Seeberg, Manager TCG 23 INFORM
Page 33 and 34: Full year 2006 Figures in NOK milli
Page 35: 35 INFORMATION MEMORANDUM Merger of
Page 43 and 44: 2004 Investments in the period amou
Page 53 and 54: 6.19.3 Balance Sheet Figures in NOK
Page 61 and 62: Share capital per 01.01.2004 5 910
Page 63 and 64: 7 INFORMATION ABOUT TCG 63 INFORMAT
Page 69 and 70: Figure: People having purchased pro
Page 79 and 80: Appendix 1: Merger Plan with append
Page 81 and 82: CONTENTS Page 1 BACKGROUND ........
Page 83 and 84: MERGER PLAN This merger plan is ent
Page 85 and 86: ) The share capital in Komplett is
Page 87 and 88:
8 PROPOSALS FOR AMENDMENTS TO THE A
Page 89 and 90:
16 DISTRIBUTION TO SHAREHOLDERS Non
Page 91 and 92:
Appendices Appendix 1 Articles of A
Page 93 and 94:
Articles of Association for KOMPLET
Page 95 and 96:
Articles of Association for TORP CO
Page 97 and 98:
Articles of Association for KOMPLET
Page 100 and 101:
100
Page 102 and 103:
102
Page 104 and 105:
104
Page 106 and 107:
106
Page 108 and 109:
108
Page 110 and 111:
110
Page 112 and 113:
112
Page 114 and 115:
114
Page 116 and 117:
116
Page 118 and 119:
118
Page 120 and 121:
120
Page 122 and 123:
122
Page 124 and 125:
124
Page 126 and 127:
126
Page 128 and 129:
128
Page 130 and 131:
130
Page 132 and 133:
132
Page 134 and 135:
134
Page 136 and 137:
136
Page 138 and 139:
138
Page 140 and 141:
140
Page 142 and 143:
142
Page 144 and 145:
144
Page 146 and 147:
146
Page 148 and 149:
148
Page 150 and 151:
150
Page 152 and 153:
152
Page 154 and 155:
154
Page 156 and 157:
156
Page 158 and 159:
158
Page 160 and 161:
160
Page 162 and 163:
162
Page 164 and 165:
164
Page 166 and 167:
166
Page 168 and 169:
168
Page 170 and 171:
170
Page 172 and 173:
172
Page 174 and 175:
174
Page 176 and 177:
176
Page 178 and 179:
178
Page 180 and 181:
180
Page 182 and 183:
182
Page 184 and 185:
The Board of Director’s Annual Re
Page 186 and 187:
Financial risk The Group is exposed
Page 188 and 189:
Translated into English for informa
Page 190 and 191:
Translated into English for informa
Page 192 and 193:
Torp Computing Group ASA Short-term
Page 194 and 195:
Torp Computing Group ASA Auditor Th
Page 196 and 197:
Torp Computing Group ASA Note 7 Sub
Page 198 and 199:
Torp Computing Group ASA Note 14 Sh
Page 200 and 201:
200
Page 202 and 203:
202
Page 204 and 205:
204
Page 206 and 207:
206
Page 208 and 209:
208
Page 210 and 211:
210
Page 212 and 213:
212
Page 214 and 215:
214
Page 216 and 217:
216
Page 218 and 219:
218
Page 220 and 221:
220
Page 222 and 223:
Appendix 6 Interim balance sheet fo
Page 224 and 225:
Komplett ASA INTERIM BALANCE SHEET
Page 226 and 227:
Appendix 7 Interim balance sheet fo
Page 228 and 229:
Torp Computing Group ASA Equity and
Page 230 and 231:
Appendix 8 Draft opening balance sh
Page 232 and 233:
Komplett ASA Draft Opening balance
Page 234 and 235:
234
Page 236 and 237:
REPORT OF THE BOARD OF DIRECTORS CO
Page 238 and 239:
The exchange ratio for the Merger w
Page 240 and 241:
UNOFFICIAL TRANSLATION FROM NORWEGI
Page 242 and 243:
UNOFFICIAL TRANSLATION FROM NORWEGI
Page 244 and 245:
Appendix 3: Expert Statements on th
Page 246 and 247:
246
Page 248 and 249:
248
Page 250 and 251:
Appendix 5: Financial statements fo
Page 252 and 253:
Trend, active customers (number) 1Q
Page 254 and 255:
THE KOMPLETT GROUP JANUARY - MARCH
Page 256 and 257:
KOMPLETT REPORTS 45 PER CENT GROWTH
Page 258 and 259:
Business development/operations Kom
Page 260 and 261:
THE KOMPLETT GROUP, APRIL - JUNE 20
Page 262 and 263:
Appendix 6: Summary of Fairness Opi
Page 264 and 265:
28 August 2007 Strictly confidentia
Page 266 and 267:
Appendix 7: Summary of Fairness Opi
Page 268 and 269:
28 August 2007 consummated. TCG and
show all

Torp Computing Group ASA

Create successful ePaper yourself

Delete template?

Save as template?