Aspocomp Group - Company Announcement

ASPOCOMP HAS SIGNED A BUSINESS PURCHASE AGREEMENT IN RELATION TO PURCHASE OF THE BUSINESS OPERATIONS OF CIBO-PRINT OY'S FACTORY IN TEUVA

Espoo, Finland, 2011-12-19 18:00 CET (GLOBE NEWSWIRE) -- 
Aspocomp Group Plc, Company Announcement, December 19, 2011 at 7:00 p.m.

An Aspocomp Group company Aspocomp Oulu Oy and Cibo-Print Oy have today signed
a Business Purchase Agreement in relation to purchase of the business
operations of a factory located in Teuva including the PCB trading operations
of Cibo-Print Oy. The transaction is intended to be completed approximately on
2 January 2012. 

As a result of completion of the purchase of the business operations all 42
employees of Teuva factory will be transferred to Aspocomp as long-service
employees. The purchase price payable for the business operations comprises of
1,440,000 shares in Aspocomp Group Plc and a cash consideration of
approximately 250,000 euros. If the Extraordinary General Meeting of Aspocomp
Group Plc to be held on 20 December 2011 resolves to approve the reverse share
split in accordance with the proposal of the Board, correspondingly the number
of shares to be transferred as a part of the consideration is reduced to
144,000 shares. The final amount of purchase price is determined based on the
inventory to be done before the completion and the amount of salary related
debts to be assigned at the completion date. 

Assuming that the purchase of the business operations is completed, it is
estimated that the net sales of Aspocomp will increase by over 20 percent
during the financial year 2012 compared to the financial year 2011. It is
estimated that the transaction will have a slight positive impact on the
earnings per share in 2012. 

For further information, please contact Sami Holopainen, CEO,
tel. +358 9 59 181, sami.holopainen(at)aspocomp.com.

ASPOCOMP GROUP PLC


Sami Holopainen
CEO

www.aspocomp.com


Aspocomp: Flexibility of product design

Aspocomp Group Plc provides services for the design and manufacture of
high-tech PCBs. Aspocomp's products are used in the electronics industry, for
instance, in telecommunications networks, automobiles and many type of
industrial applications.