Share Issue 2013

Efore Plc’s (“the Company” or Efore”) Board of Directors decided on 26 September 2013 to execute a share issue directed for subscription by public in Finland (“Share Issue”). The purpose of the Share Issue is to strengthen the Company’s financial position.

In the Share Issue, a maximum of 8,000,000 new shares in the Company (“New Shares”) were offered for subscription, at the subscription price of 0.69 euros per share. The subscription period of the Share Issue ended on 8 October 2013, at 4.00 p.m.

A total of 8,464,277 New Shares were subscribed in the Share Issue, corresponding to a total of 5,840,351.13 euros. The Share Issue was oversubscribed and the subscriptions have been adjusted in accordance with the terms and conditions of the Share Issue. The Board of Directors approved the subscriptions of 8,000,000 New Shares in the Share Issue, which corresponds to a total of EUR 5,520,000 at the subscription price of EUR 0.69.

The subscriptions made by the current shareholders of the Company have been allocated to the current shareholders pro rata to their current shareholding. Subscriptions of up to 20,000 New Shares were accepted in full.

With regards to subscriptions of over 20,000 New Shares, the amount of New Shares subscribed by individual shareholders that exceeded the pro rata amount of the said shareholder’s share ownership at the time of subscription was adjusted, and the subscribers were treated equally.

The New Shares subscribed in the Share Issue correspond altogether to approximately 16.7 per cent of the existing shares and votes provided by the existing shares prior to the Share Issue and approximately 14.3 per cent of the existing shares and New Shares as well as the votes provided thereby after the Share Issue.

New shares corresponding to subscriptions have been entered into the Trade Register on 18 October 2013. After the increase the Company’s registered share capital is divided into 55,772,891 shares. The shares will entitle their holders to dividends and other shareholder rights in the Company as of the date of registration of the shares in the Trade Register. The new shares will be traded on the main list of the NASDAQ OMX Helsinki Ltd together with the old shares as of 21 October 2013.

Moreover, trading of the 5,243,243 new shares entered into the Trade Register on 12 July, 2013 begins at the same time. These shares were assigned as a part of the acquisition published on 10 July, 2013 when Efore acquired the entire share capital of Roal Electronics S.p.A.  The shares are subject to a lock-up period of 12 months after the closing of the deal as announced on 10 July, 2013.

Terms and conditions for the share issue

 

For more information about the Share Issue (in Finnish only), please click here