Ikonisys S.A. (ENXTPA:ALIKO) entered into an agreement to acquire Hospitex International S.R.L. for ?3.5 million on November 30, 2023. Under the terms of the Agreement, Ikonisys will acquire Hospitex International for a total consideration of ?4.5 million, paid through the issuance of 2 million new Ikonisys shares and in addition, if certain revenue targets are reached by Hospitex by December 31, 2024, an additional ?1.125 million will be paid by Ikonisys in June 2025 through the issuance of additional 0.5 million new Ikonisys shares. Hospitex International has reported revenues of ?1.8 million in 2022.

The Consideration Shares which may be issued shall be admitted to trading on Euronext Growth Paris, on the same line as existing Ikonisys shares. The issuance of the Consideration Shares will not require the approval of a prospectus by the AMF. The sellers agreed to grant a lock-up commitment on all Consideration Shares that they may receive in consideration for the Transaction, until June 30, 2025 (the ?Lock-Up Commitment?), except in customary circumstances or with the prior approval of the Issuer.

The transaction is subject to customary conditions precedent. The transaction is expected to complete by February 2024.