Cencorp - Major shareholder announcements

CENCORP CORPORATION HAS RECEIVED FLAGGING NOTIFICATION FROM KESKINÄINEN ELÄKEVAKUUTUSYHTIÖ ETERA IN ACCORDANCE WITH CHAPTER 9 SECTION 5 OF THE FINNISH SECURITIES MARKET ACT

Cencorp Corporation                      Stock Exchange Release 22 May 2013 at
09:30 Finnish time 



CENCORP CORPORATION HAS RECEIVED FLAGGING NOTIFICATION FROM KESKINÄINEN
ELÄKEVAKUUTUSYHTIÖ ETERA IN ACCORDANCE WITH CHAPTER 9 SECTION 5 OF THE FINNISH
SECURITIES MARKET ACT 

Cencorp Corporation (hereinafter ”Cencorp”) hereby discloses in accordance with
Finnish Securities Market Act Chapter 9 Section 10 that it has on 21 May 2013
received flagging notification from Keskinäinen Eläkevakuutusyhtiö Etera
(hereinafter “Etera”) pursuant to the Finnish Securities Market Act Chapter 9
Section 5. Pursuant to the flagging notification of Etera, its share of all
issued Cencorp shares and voting rights may exceed 10 per cent as a result of
the arrangement described below and which arrangement may thus lead to exceed
the flagging notification threshold. 

1. Issuer

Cencorp Corporation, business ID 0749606-1

2. Person subject to the notification obligation

Keskinäinen Eläkevakuutusyhtiö Etera, business ID 0117086-1

3. Grounds for the flagging notification

Arrangement which may result in exceeding the flagging notification threshold
of 10 per cent calculated in accordance with Finnish Securities Market Act
Chapter 9 Section 5 

4. Date on which the flagging threshold was exceeded

21 May 2013

5. Flagging threshold that is exceeded

10 per cent of all shares and voting rights in Cencorp.

6. Arrangement

Etera, which prior to the arrangement described herein has owned alltogether
16.394.735 Cencorp shares has resolved to subscribe for the convertible bond
which Cencorp has on 17 May 2013 disclosed to issue in order to secure the
financing required to strengthen Cencorp's capital structure. The maximum
amount of the capital bond is EUR 2,100,000. Simultaneously Cencorp issues
stock options with maximum amount of 30,000,000 free of charge. One (1) stock
option is issued per each subscribed loan capital amount of EUR 0.07. The
minimum subscription amount of the convertible bond is ten thousand (10,000.00)
euro. 

Pursuant to the terms of the convertible bond, the holder of the bond is
entitled to convertthe promissory note into the shares of Cencorp during the
conversion period (subscription periodof the shares) which commences on June 1,
2013 and which terminates on June 2, 2015. One (1) stock option pursuant to the
promissory note entitles the bond holder to subscribe for one (1) new Cencorp
share. Based on the subscriptions made pursuant to the stock options, Cencorp
shall issue a maximum amount of 30,000,000 new company shares. 
The loan period starts as of the payment of a loan to Cencorp and ends on 2
June 2015 when the convertible bond will be due in its entirety pursuant to the
loan terms. 
Etera has on 21 May 2013 subscribed the convertible bond for 1,500,000 euro in
accordance with the terms of the convertible bond. Due to the subscription,
Etera is entitled, shall the Board of Directors of Cencorp accept the
subscription made by Etera, to receive 21,428,571 option rights of Cencorp
which Etera is entitled to convert into the shares of Cencorp in accordance
with the terms of the convertible bond. 



Due to the arrangement the number of Cencorp shares and voting rights owned by
Etera may rise to the following amounts: 



Number of Shares  % of the Shares  Number of Voting Rights  % of Voting Rights
      37,823,306           10,40%               37,823,306             10,40 %



The above mentioned portions have been calculated in relation to the number of
Cencorp shares registered with the Finnish Companies Register on 21 May 2013
and related voting rights i.e. 342,161,270 shares and voting rights. The basis
for the calculation for the flagging is that Etera will use the option rights
related to the convertible bond it has subscribed in their entirety. 

In Mikkeli, 21 May 2013
CENCORP CORPORATION
Iikka Savisalo, President and CEO
For more information, please contact:Iikka Savisalo, President and CEO, Cencorp
Corporation, tel. +358 40 521 6082, iikka.savisalo@cencorp.com 
Distribution:
NASDAQ OMX, Helsinki
Main media
www.cencorp.com
Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment included in the product portfolio designed for
depaneling,odd-form assembly, testing and laser materials processing
substantially improves the efficiency of customers' production. The product
range also includes EMI shielding solutions, RFID antennas, other flexible
circuits including for example conductive back sheets used in photovoltaic
modules and mobile phone antennas. Cencorp's customers are manufacturers of
automotive electronics, mobile phone antennas and photovoltaic modules as well
as manufacturers operating in telecommunications and in industrial automation.
Cencorp's head office is located in Mikkeli, Finland. The company is part of
the Finnish Savcor Group.