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2009-02-11 13:00:00 CET 2009-02-11 13:00:00 CET REGULATED INFORMATION Scanfil - Company AnnouncementRETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLCSCANFIL PLC STOCK EXCHANGE RELEASE 11 FEBRUARY 2009 2.00 P.M RETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLC On 30 April 2008, Scanfil plc's Board of Directors approved a business transfer agreement based on the authorisation given by the Annual General Meeting on 3 April 2008 and executed the transfer on 1 May 2008. The business transfer split the company into Scanfil plc, an investment company, and Scanfil EMS Oy, a subgroup engaged in contract manufacturing. In the business transfer, all contract manufacturing assets, liabilities and provisions were transferred to Scanfil EMS Oy in accordance to the provisions of the Finnish Act on Trade Tax. This made the Scanfil EMS Oy balance sheet too strong for effective equity management. The Board of Directors of Scanfil EMS Oy has proposed to the Annual General Meeting of Scanfil EMS Oy to be held on 17 March 2009, that it will return equity to its parent company Scanfil plc by decreasing the reserve for invested non-restricted equity so that the equity ratio of Scanfil EMS Oy will be approximately 40%. Return of equity, approximately EUR 47 million, will be completed in two instalments by autumn 2009. SCANFIL PLC Harri Takanen President Additional information: Marjo Nurkkala, Director, Finance Tel +358 8 4882 111 Distribution NASDAQ OMX Helsinki Major Media www.scanfil.com Scanfil is a global contract manufacturer and systems supplier for communication and industrial electronics with over 30 years experience in demanding contract manufacturing Scanfil offers contract-manufacturing services as a systems supplier to the telecommunication industry, mainly to wireless communication sector, as well as to the industrial electronics industry. Main telecommunication products are among others integrated enclosure systems for mobile phone and ADSL networks and assembly and testing of modules related to enclosure systems. Examples of industrial electronics products include box-built tested devices, various electronic modules, backplanes and assembled circuit boards as well as cable assemblies. Production plants are situated in China, Hungary, Estonia and Finland. |
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