Before we get into Nokia, a small cap technology company is making huge strides by garnering praise from technology giants like Intel. The small cap company in focus is Provision Holding, Inc. (OTCQB:PVHO). PVHO has been hitting all the right cords lately by closesing in $4M in private placement funding that should assist in the Company’s growth beyond its current installations of approximately 450 3D Savings Center kiosks with a national retail customer. The Company plans to have 1,000 3D Savings Center kiosks installed by the second quarter. If that wasn’t enough, yesterday the company announced that Intel has published a Solution Brief entitled: “Tomorrow’s Digital Signage, Today with 3D Holographic Kiosks”. The report states, “Intel technologies and Provision 3D holographic kiosks lead to more focused campaigns and higher sales for consumer brands and retailers”. Looks like (OTCQB:PVHO) is all set to receive attention from Wall Street.
Nokia Corporation (ADR)(NYSE:NOK), Finnish telecoms network equipment manufacturer, announced that it holds 91% stake in the Alcatel-Lucent after recently concluded second round of $17.6 billion (15.6 billion euros) all-stock offer.
Insights of Matter
It was one of the major initiatives taken by Nokia to expand its market share in the recent time. To proceed further, Nokia has started combining its operations with those of Alcatel-Lucent. Although Nokia holds 91% stake in the company, it needs at least 95% shares to squeeze out rest of the stake.
Road So Far
The news regarding Nokia’s 91% holding in Alcatel was first published by Autorité des Marchés Financiers. According to reports, the reopened offer in the United States and France comprises of Alcatel’s ordinary shares, American Depository shares, and convertible bonds. The reopened offer is expected to take place on February 12, 2016. From how events have shaped up till now, it looks like Nokia will hold 91.17% of the voting rights and 91.25% of the share capital of Alcatel.
It was announced by the company a long time ago that as soon as the reopened offer is settled, Alcatel-Lucent ADS would be closed down immediately. If everything goes as per plans, this will be done on or before February 24, 2016. Based on the end result of reopened offer, Nokia will come up with a new lot of 320701193 shares as consideration of Alcatel’s securities tendered into the reopened offer. Nokia expects to finish the proceedings as soon as possible so that it can execute registration procedure and other formalities in a hassle-free way.
The senior management team of the company is delighted to announce this update and hopes that it will add value to shareholders’ investment in the long term. Going forward, Nokia will continue to take many more such initiatives, details of which will be shared from time to time with investors.