Valoe Oyj - Major shareholder announcements

VALOE CORPORATION HAS RECEIVED FLAGGING NOTIFICATION FROM MR. KAI MÄKELÄ IN ACCORDANCE WITH CHAPTER 9 SECTION 5 OF THE FINNISH SECURITIES MARKET ACT

Valoe Corporation                                                  Stock
Exchange release 1 September 2015 at 20.00 Finnish time 



VALOE CORPORATION HAS RECEIVED FLAGGING NOTIFICATION FROM MR. KAI MÄKELÄ IN
ACCORDANCE WITH CHAPTER 9 SECTION 5 OF THE FINNISH SECURITIES MARKET ACT 

Valoe Corporation (hereinafter "Valoe") hereby discloses in accordance with the
Finnish Securities Market Act Chapter 9 Section 10 that it has on 1 September
2015 received a flagging notification from Mr. Kai Mäkelä  pursuant to the
Finnish Securities Market Act Chapter 9 Section 5. Pursuant to the flagging
notification of Mäkelä, his or party nominated by him share of all issued Valoe
shares and voting rights may exceed 5 per cent as a result of the arrangement
described below and which arrangement may thus lead to exceed the flagging
notification threshold. 

1. Issuer

Valoe Corporation, business ID 0749606-1

2. Person subject to the notification obligation

Mr. Kai Mäkelä or party nominated by him, ID 200747-.

3. Grounds for the flagging notification

Arrangement which may result in exceeding the flagging notification threshold
of 5 per cent calculated in accordance with the Finnish Securities Market Act
Chapter 9 Section 5. 

4. Date on which the flagging threshold was exceeded

31 August 2015

5. Flagging threshold that is exceeded

5 per cent of all shares and voting rights in Valoe after Convertible Bond.

6. Arrangement

Mäkelä or party nominated by him has resolved to subscribe for the convertible
bond I/2015 (further herein "Convertible Bond") which maximum amount is EUR
7,700,000 and which Valoe has on 29 May 2015 disclosed to issue in order to
secure the financing required to strengthen Valoe's capital structure. Against
subscription of the Valoe Convertible Bond, Valoe issues simultaneously free of
charge in maximum 770,000,000 loan shares. One (1) loan share is issued against
each subscription of EUR 0.01 of the loan capital. The minimum subscription
amount of the Convertible Bond is one hundred thousand (100,000.00) euro. 

According to the terms of the Convertible Bond the holder of the loan shares is
entitled to convert the loan shares to Valoe's shares during the conversion
period (the subscription period for the shares), which begins on 1 August 2015
and ends on 1 August 2018. 

According to the terms of the Convertible Bond one (1) loan share entitles the
Convertible Bond holder to subscribe one (1) new Valoe share. Based on the
subscriptions made pursuant to the loan shares Valoe shall issue a maximum
amount of 770,000,000 new Valoe shares. 

The loan period commences on the payment date and expires on 1 August 2018 on
which the Convertible Bond expires and is repayable in its entirety in
accordance with the loan terms. 

Mäkelä or party nominated by him has on 31 August 2015 committed to subscribe
for Valoe's Convertible Bond for EUR 1,000,000. On account of the subscription
Mäkelä or party nominated by him shall receive 100,000,000 Valoe's loan shares
that Mäkelä or party nominated by him may convert to Valoe's shares in
accordance with the terms of the Convertible Bond. 

Due to the arrangement the number of Valoe shares and voting rights owned by
Mäkelä or party nominated by him may rise to the following amounts: 



Number of Shares  % of the Shares  Number of Voting Rights  % of Voting Rights
     100.000.000            6,1 %              100.000.000               6,1 %



The above mentioned portions have been calculated in relation to the Valoe
shares registered with the Finnish Companies Register on 31 August 2015 and
related voting rights i.e. 862,472,136 shares and voting rights increased by
maximum amount of shares allowed by Convertible Bond i.e. 770,000,000 shares
and votes. 



In Mikkeli, 1 September 2015

Valoe Oyj

Iikka Savisalo

President and CEO







For more information please contact:

Iikka Savisalo, President and CEO, Valoe Corporation, tel. +358 40 521 6082,
iikka.savisalo@valoe.com 



Distribution:
NASDAQ OMX, Helsinki
Main media
www.valoe.com



Valoe Corporation specializes in the clean energy, especially in photovoltaic
solutions. Valoe provides automated production technology for solar modules
based on the company's own technology; production lines for modules; solar
modules and special components for solar modules. Valoe's head office is
located in Mikkeli, Finland.