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2011-03-14 12:05:17 CET 2011-03-14 12:05:56 CET REGULATED INFORMATION Aspo - Company AnnouncementASPO PREPARES A RIGHTS OFFERING OF UP TO EUR 20 MILLIONASPO Plc STOCK EXCHANGE RELEASE March 14, 2011 at 13:05 Not for release, publication or distribution in or into the United States, Australia, Japan, Canada, Hong Kong or Singapore. The Board of Directors of Aspo Plc has decided to begin preparations of a rights offering of up to EUR 20 million. The Board of Directors proposes the Annual Shareholders' Meeting to be held on April 5, 2011 to authorize the Board of Directors to decide on the issuance of a maximum of 5 500 000 new shares in a rights offering. The proceeds from the rights offering are intended to be used to support the company's growth strategy both by organic growth and through acquisitions, to strengthen the balance sheet and to develop the business. Pohjola Corporate Finance would act as Lead Manager for the rights offering. The following major shareholders Henrik Nyberg, Aatos Vehmas, Tapio Vehmas, Ilmarinen Mutual Pension Insurance Company, Liisa Vehmas, Berling Capital Oy, Henrik Estlander, Gustav Nyberg, Varma Mutual Pension Insurance Company, Aspo Management Oy and Hollming Oy as well as all Board members have given their irrevocable commitments to subscribe the new shares offered for subscription in the rights offering. The shareholders' irrevocable commitments represent approximately 36.6 percent of the company's registered shares."Aspo Group's current structure creates a good basis for operational growth. The Group seeks organic growth in particular in Russia and other CIS countries, as well as in the Ukraine and China. Aspo's segments also seek growth through acquisitions. The contemplated rights offering supports the company's growth strategy and development of the business," states Aki Ojanen, Aspo's CEO. Provided that the Annual Shareholders' Meeting authorizes the Board of Directors, the Board of Directors intends to take the resolution on the rights offering in accordance with the notice to the Annual Shareholders' Meeting. The rights offering is expected to be completed by the end of June 2011 taking into consideration the prevailing market conditions. The Annual Shareholders' Meeting will be held on April 5, 2011. The notice of the meeting was published through a separate stock exchange release today. The proposal for the authorization of the issuance of new shares and other information relating to the Annual Shareholders' Meeting are available on the company's website at www.aspo.com. ASPO Plc Aki Ojanen CEO Further information: Aki Ojanen, CEO, tel. +358 9 521 4010, Arto Meitsalo, CFO, tel. +358 9 521 4020 or Harri Seppälä, Group Treasurer, tel. 358 9 521 4035 Distribution: NASDAQ OMX Helsinki Key Media www.aspo.com Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules. IMPORTANT NOTICE: The information in this press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would require preparation of further prospectuses or other offer documentation, or be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under the Securities Act or an exemption therefrom. [HUG#1496564] |
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