Rolling Optics International AB (publ) intends to acquire ICTA AB (publ) (OM:ICTA) in a reverse merger transaction for approximately KRW 1 billion on April 2, 2020. As per terms of transaction, ICTA AB will issue 123 million new shares as consideration for the shares in Rolling Optics Upon completion of the transaction, Rolling Optics' shareholders will hold 89.4% of the number of ordinary shares and 88.4% of the voting shares in the combined company and ICTA's existing shareholders will hold approximately 10.6% of ordinary shares and 11.6% of the voting shares. RP Ventures AB will hold 12% stake, ICTA's existing shareholders will hold 11% stake, CCL Secure Ltd will hold 10% stake, Axel Lundvall will hold 6% stake, Johan Stern incl will hold 5% stake, Westindia AB will hold 4% stake, SVEA Sarl will hold 4% stake and other shareholders in Rolling Optics will hold 47% stake in Rolling Optics Holding AB (publ). Post completion, ICTA AB (publ) will change its name to Rolling Optics Holding AB (publ).

Johan Stern will be appointed as Chairman of the Board, Axel Lundvall will be appointed as Chief Executive Officer, Carin Jakobson will be appointed as Chief Financial Officer, Rikard Östberg will be appointed as Business Development Manager, Axel Brangenfeldt will be appointed as Sales Manager and Johannes Enlund will be appointed as Technical Manager. The transaction is subject to approval of issue of preference shares to the existing shareholders and new issue of SEK 10 million that will be directed to Rolling Optics' existing owners. Transaction is subject to approval of application for listing on Nasdaq First. Transaction is conditional on at least 75% of Rolling Optics 'existing shareholders accepting the offer. As of April 2, 2020, ICTA has obtained voting commitments from existing shareholders corresponding to 55% of the shareholder.

Erik Penser Bank AB acted as financial advisor and Håkan Fohlin and Marcus Nivinger of Setterwalls Advokatbyrå AB acted as legal advisors to ICTA AB.

Rolling Optics International AB (publ) completed the acquisition of ICTA AB (publ) (OM:ICTA) in a reverse merger transaction on May 26, 2020. As on May 26, 2020, the issue of preference share is approved. As on May 29, 2020, ICTA changed its name to Rolling Optics Holding AB (publ) and the ticker will change to "RO". On June 9, 2020, shareholders in Rolling Optics International AB will receive the new shares in the combined Rolling Optics Holding AB.