​GWS takes control of business in Asia

Further success within Asia leads GWS Production into the buy out of the contract with current sales partner GWS Asia in Malaysia.

The deal ensures greater control of business in the area and reduces commission costs for GWS Production.

GWS Asia was started as an externally owned sales company to sell and market GWS services in the region. GWS Production now estimates that as sales develop positively, specifically in Southeast Asia, then it is important to control the entire sales chain without additional commission costs. This buy out also improves the cash flow for GWS Production.

"The business in Asia is about to expand and we need a different structure," said GWS CEO Andreas Rodman.

By the agreement GWS will buy out GWS Asia with a purchase price of 1 786 000 SEK. The compensation will be paid by issuing 611 162 shares in GWS Production AB for a subscription price of 2,9223 SEK (which corresponds to the volume weighted average price for 10 trading days from 15 May to 28 May). The new issue resolution will be passed by the board based in the authorization granted by the Annual General Meeting on 29 May 2018 and subscription of the shares will be made no later than 2 July 2018.