Reltime As entered into a letter of intent to acquire Bonzun AB (publ) (OM:BONZUN) for approximately SEK 170 million in reverse takeover on May 3, 2024. The parties have agreed on an indicative purchase price that amounts to approximately SEK 150 - SEK 165 million and is intended to be paid in the form of newly issued shares in Bonzun through a non-cash issue of approximately SEK 0.045 - SEK 0.0496 per share. After the transaction, existing Bonzun shareholders will retain approximately 8-9% of the equity, while Reltime shareholders will hold about 91-92%. Post-acquisition, Bonzun will discontinue its prior operations to fully integrate into Reltime?s business model and technology. The company will rebrand as Reltime AB (publ). This acquisition will significantly change management team and board compositions to align with strategic goals. Completion of the transaction is conditional upon satisfactory completion of due diligence; Bonzun completing a directed debt set-off issue; an extraordinary general meeting in Bonzun approving the transaction and the other resolutions proposed by the board of directors in the notice to the extraordinary general meeting; Reltime's largest shareholder Julo obtaining an exemption from the mandatory offer that would otherwise arise as a result of the transaction; and Nasdaq Stockholm granting approval for continued listing of the Bonzun shares on First North. The majority owner of Reltime, has undertaken to enter into a customary lock-up commitment for a period of 12 months from the completion of the Transaction The deal is expected to conclude in Q3 2024.

Eversheds Sutherland Advokatbyrå AB acted as Legal Advisor and Eminova Partners Corporate Finance AB acted as financial advisor to Reltime.