Final result of the rights issue by Enedo Plc and Regie

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ENEDO PLC stock exchange announcement April 7th, 2021 at 7:30 p.m.

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Final result of the Rights Issue and the Directed Issue of Enedo Plc

On March 11, 2021, Enedo Plc (the “Companies“Announced a rights issue and a directed issue (together the”Problems“) In the amount of around 12 million euros.

The subscription period for the issues ended on April 1, 2021. According to the final result, a total of 39,320,336 new shares were subscribed for as part of the rights issue, which corresponds to around 156.7% of the 25,090,458 shares on offer. Of the 25,090,458 new shares offered as part of the rights issue, 23,340,992 new shares were purchased with subscription rights and 15,979,344 new shares without subscription rights. In the targeted issue, all of the 35,000,000 shares offered were subscribed. The subscription price for the rights issue and the direct issue was EUR 0.20 per new share, and the company will receive gross proceeds of around EUR 12.0 million from the issues.

The company’s Board of Directors today approved the subscriptions made in the issues and allocated the new shares subscribed in the issues in accordance with the terms and conditions of the issue. As a result of the issue, the number of shares in the company will increase from the current 8,432,735 shares by 60,090,458 shares to a total of 68,523,193 shares. After the issues are complete, the new shares issued in the issues will account for approximately 88% of the company’s issued and outstanding shares.

The Swedish Inission AB (publ) (“Inmission“) Has subscribed to 34,000,000 of the shares offered in the context of the targeted issue in accordance with its subscription obligation and will be the company’s largest shareholder with a stake of around 49.6%. On March 8, 2021, the Federal Financial Supervisory Authority granted Inission a permanent exemption from the obligation to submit a mandatory offer for the company’s shares. In addition, Joensuun Kauppa has Kone Oy (“Joensuun Kauppa yes Kone“), Which has subscribed 1,000,000 of the shares offered in the targeted issue in accordance with its subscription obligation.

The issues in connection with the company’s loan agreement announced on February 16, 2021 in the amount of EUR 8.6 million, through which the company will repay EUR 5.3 million of these loans and cancel a total of EUR 3.3 million of the loans (the “Loan agreement“). The remainder of the proceeds from the issues will be used for the company’s general working capital needs and for the implementation of the company’s turnaround program announced on February 16, 2021 Commercial Register. After that, Jussi Capital Oy will sell all of the company’s shares to Joensuun Kauppa ja Kone.

“I am very satisfied with the result of the rights issue and would like to thank all existing and new Enedo shareholders who participated in the rights issue. An oversubscribed issue shows strong confidence in the company’s turnaround program and a new profitable future, ”said Vesa Leino, President and CEO of Enedo. “I would also like to thank our new distinguished owners who contributed to the targeted edition for their belief in the company and its future. The successful issues secure the necessary financing for the implementation of the turnaround program, provide security for the duration of the implementation and improve the financial and balance sheet position of the company significantly through the loan agreement. “

The new shares will be entered in the commercial register on or around April 9, 2021. The last trading day of the Interim Shares on the Nasdaq Helsinki Ltd list of exchanges (the “Helsinki Helsinki Stock Exchange”) Will be on or around April 9, 2021. Interim shares will be merged with the company’s existing shares on or around April 9, 2021. Trading in the shares is expected to begin on or about April 12, 2021 on the Helsinki Stock Exchange. The new shares have the same rights as the other shares of the company if the shares are entered in the commercial register and entered in the investors’ accounts.

UB Securities Ltd is acting as lead manager of the issues and Castrén & Snellman Attorneys Ltd is the company’s legal advisor. Access Partners Oy is the company’s financial advisor in relation to the loan agreement.

ENEDO PLC

Vesa Leino
President and CEO

For further information please contact Mr. Vesa Leino, CEO, tel. +358 40 759 8956.

DISTRIBUTION
Nasdaq Helsinki Ltd
Main media

ENEDO IN BRIEF

Enedo is a European designer and manufacturer of high quality electronic power supplies and systems for critical devices in even the most demanding environments. Enedo’s mission is to make electricity better – more reliable, safer, more energy-efficient – and just right for its purpose. Enedo’s three main product categories are LED drivers, power supplies and power systems. In 2020, the group’s turnover was 38.5 million euros. Enedo has 354 employees and its main functions are in Finland, Italy, Tunisia and the USA. The group is headquartered in Finland and the parent company Enedo Plc is listed on Nasdaq Helsinki Oy.

IMPORTANT INFORMATION

This announcement is not an offer of securities for sale in the United States. Securities may not be sold in the United States without registration with the US Securities and Exchange Commission or an exemption from registration under the US Securities Act of 1933, as amended. The Company does not intend to register any portion of the issues in the United States or to make any public offering of securities in the United States.

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In all EEA member states except Finland, this press release is addressed only to qualified investors in this member state within the meaning of Regulation (EU) 2017/1129 (the “Prospectus Ordinance“).

This notice is only being sent to (i) persons outside the UK or (ii) investment professionals pursuant to Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “assignment“) Or (iii) high net worth companies and other persons to whom it may lawfully be disclosed, within the meaning of Article 49 (2) (a) to (d) of the Regulation (all of these persons are collectively referred to as”Relevant people“). All securities referred to herein are available only to Relevant Persons and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities is entered into only with them. Any person who is not a Relevant Person should not trust or act on this press release or its contents.

This publication does not constitute a prospectus within the meaning of the Prospectus Ordinance and, as such, is neither an offer to sell nor a solicitation or solicitation of an offer to buy, purchase or subscription and may not be interpreted as such for securities or an incentive to take up investment activities.

No part of this press release, or the fact that it is distributed, should form the basis of or relate to any contract, commitment or investment decision. The information contained in this press release has not been independently verified. No representation, warranty, or representation, express or implied, is made as to the fairness, accuracy, completeness, or veracity of the information or opinions contained herein and no reliance should be placed on them. The company or its respective affiliates, consultants or agents or any other person shall in no way be liable (negligently or otherwise) for any loss arising out of the use of this press release or its contents or otherwise in connection with this publication. Each person must rely on their own examination and analysis of the company, its subsidiaries, its securities and the transactions, including the benefits and risks associated therewith.

The lead manager acts exclusively for the company and for no one else in connection with the emissions. It does not consider any person other than its respective customer in relation to emissions. The Lead Manager is not responsible to anyone other than the Company for providing the protection offered to its respective customers or for providing advice regarding the issues or transactions or agreements referred to herein.

This press release contains “forward-looking statements”. These statements may not be based on historical facts but are statements about future expectations. In this press release, the words “aim”, “anticipate”, “assume”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “planet”, “should” are used “,“ Will, ”“ would ”and similar expressions relating to the company and the transactions identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. These forward-looking statements are based on current plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations that, even if they appear reasonable at the moment, may prove to be wrong. Such forward-looking statements are based on assumptions and are subject to various risks and uncertainties. Readers should not place undue reliance on these forward-looking statements. Numerous factors could cause actual results of operations or financial condition of the company to differ materially from those expressed or implied in any forward-looking statements. The company or its affiliates, consultants or agents or any other person undertakes no obligation to examine, confirm or publicly release any forward-looking statement to reflect events or circumstances that occur after the date of this release.

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