Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, has reached an agreement on taking over the majority stake of ANT Power Energy, a forecasting service provider for photovoltaic and wind power plants. The transaction is subject to approval at the Extraordinary General Meeting of Shareholders on December 28, 2021.

Simtel Team is considering the acquisition of a 51% majority stake in ANT Power Energy for approximately 1.5 million lei. The amount will be paid in two installments, the first having a value of approximately 475,000 lei and will be paid in cash, immediately after the date of adoption of Simtel’s EGMS decision. The second tranche, worth about 1 million lei, will be converted into shares issued by Simtel, which will be settled in a share capital increase.

The minority stake of 49% of ANT Power Energy will be owned by the founder Adrian Tița, who will continue to hold the position of CEO of the company.

In terms of development plans, ANT Power Energy plans to expand its team and services, while Simtel will support the company in increasing market visibility, stability through access to finance and support in expanding its customer portfolio. The main objective of this partnership is that in the next five years ANT Power Energy will be in the top three companies in Romania that perform representation services on the energy markets on behalf of customers. The company is also considering a potential listing on BVB over the next three years. For Simtel, the partnership with ANT Power Energy means expanding the range of services offered to customers and multiplying the sources of income. Simtel Team has been listed on the AeRO market of the Bucharest Stock Exchange since July 1, 2021, and currently has a market capitalization of over 160 million lei. As of October 11, 2021, SMTL shares are included in the BET-AeRO index developed by the Bucharest Stock Exchange for the AeRO market.