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2013-08-26 08:00:01 CEST 2013-08-26 08:00:04 CEST REGULATED INFORMATION Efore - Company AnnouncementTHE BOARD OF DIRECTORS OF EFORE IS PREPARING A SHARE ISSUE IN ORDER TO STRENGTHEN THE COMPANY’S FINANCIAL POSITIONEspoo, Finland, 2013-08-26 08:00 CEST (GLOBE NEWSWIRE) -- EFORE PLC Stock Exchange Release August 26, 2013 9.00 a.m. The Board of Directors has proposed to the Extraordinary General Meeting (to be held today, August 26, 2013) that EGM would grant an authority for the Board to issue in maximum 10.000.000 share. The Board has decided to prepare a share issue directed for subscription by public in Finland (“the Share Issue”) and its intention is to use the proposed authorization for the execution. The purpose of the Share Issue is to strengthen the Company's financial position. It is expected that the share issue would take place before end of October 2013. The planned terms of share issue would be: - A minimum of 5.000.000 new shares in the Company will be offered for subscription by public in Finland, in deviation from the shareholders' pre-emption rights. - Some of the new Shares shall be allocated to the Company's shareholders who have subscribed for shares in the Share Issue and who are recorded in the Company's shareholder register so that they shall receive New Shares in the Share Issue in proportions corresponding to their shareholdings. Board of Directors sees ensuring the diversity of the company's shareholding desirable. - The subscription price would be set market based and published before the subscription period commences. - The terms and conditions for the Share Issue will be published via stock exchange release. If all the New Shares will be issued in the planned Share Issue, the New Shares will, following the Share Issue, represent approximately 17.3 per cent of all of the Efore shares and related voting rights. EFORE PLC Board of Directors For further information please contact Mr.Vesa Vähämöttönen, President and CEO, on August 26, 2013 at 10 - 11 a.m., tel. +358 9 4784 6312 DISTRIBUTION NASDAQ OMX Helsinki Ltd Principal media Efore Group Efore Group is an international company which develops and produces demanding power products. Efore's head office is based in Finland and its production units are located in China and Tunis. Sales and marketing operations are located in Europe, United States and China. In the fiscal year ending in October 2012, consolidated net sales totaled EUR 78,1 million and the Group's personnel averaged 888. The company's share is quoted on the Nasdaq OMX Helsinki Ltd. www.efore.com |
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