Efore - Company Announcement

THE BOARD OF DIRECTORS OF EFORE IS PREPARING A SHARE ISSUE IN ORDER TO STRENGTHEN THE COMPANY’S FINANCIAL POSITION

Espoo, 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