October 17, 2016 / 6:17 AM / 9 months ago

BRIEF-Anoto replaces agreement with SMark with agreement with ABLE Investment Advisors

1 Min Read

Oct 17 (Reuters) - Anoto Group AB :

* Enters into investment agreement with ABLE Investment Advisors Inc. in total amount of $6 million to replace investment agreement with SMark

* On July 15 Anoto and Digiwork entered into agreement to establish cross shareholding involving $2 million investment by Anoto into SMark, Digiwork's listed parent company, and $5 million investment by SMark in Anoto

* Parties have now decided to revise their plan for SMark's investment into Anoto as due to recent KOSDAQ Market Regulations regarding cross-investment investment by SMark into Anoto could potentially lead to sanctions being imposed

* ABLE Investment Advisors is related party to SMark

* Says cooperation between Anoto and SMark continues as planned and will not be affected by new investment agreement with ABLE

* Says joint development between Anoto and Digiwork of "Product DNA" is progressing according to plan Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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