Valoe Oyj - Changes in company's own shares

Valoe Corporation Pays Commission Fee to ISC Bioheat Oy in Valoe Shares

Valoe Corporation                Stock Exchange Release 6 July 2022 at 15.10 (Finnish Time)

Valoe Corporation has been cooperating with ISC Bioheat Oy with Matts Kempe as the company’s CEO in sales and marketing since 2019.

On 30 December 2021, Valoe agreed with ISC Bioheat Oy on separate fees as compensation for the services provided by ISC Bioheat to Valoe in 2021 and 2022 under the consulting agreement between the parties. Valoe pays ISC Bioheat a total fee of EUR 24,927.44 for the second half of 2021, for which Valoe has issued a promissory note (“Promissory Note”) to ISC Bioheat.

Valoe's Board of Directors has today resolved to convert the Promissory Note into Valoe shares and transfer a total of 295,699 treasury shares to ISC Bioheat. The subscription price for one (1) share is EUR 0.0843, which corresponds to three months’ volume-weighted average price of Valoe share for the three-month period ended 23 February 2022.

After the above-mentioned share transfer, Valoe will have in total 12,178,924 treasury shares.

In Mikkeli, 6 July 2022

Valoe Corporation

BOARD OF DIRECTORS

For more information:
CEO Iikka Savisalo, Valoe Corporation
Tel. +358 405216082
email: iikka.savisalo@valoe.com

Distribution:
Nasdaq Helsinki Oy
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.