Incap - Company Announcement

Incap continues negotiations on arrangement concerning convertible bond

Incap Corporation
Stock exchange release     30 November 2012 at 3.40 p.m.


INCAP CONTINUES NEGOTIATIONS ON ARRANGEMENT CONCERNING CONVERTIBLE BOND

Based on the financing arrangement in spring Incap Corporation is committed to
redeem the remaining amount (a total of EUR 2.3 million) of the convertible bond
issued in 2007 by the end of 2012 in two instalments: EUR 1.1 million by 30
November and EUR 1.2 million by 31 December. The company planned at first to
collect the funds for the redemption through a share issue in autumn 2012. Now,
the company has decided to postpone the share issue to the year 2013 and
investigated other tools to finance the redemption. The company is currently
consulting with major shareholders, financiers and holders of the convertible
bond with the target to find a proper solution for financing arrangement.

Incap's management is confident about the successful arrangement in financing
because major shareholders of the company have already expressed their support
to the financing of the company. The financing position of the company will
improve after the redemption of the convertible bond, because the second
instalment of the additional loan granted by a Finnish bank (EUR 1.5 million)
can be withdrawn based on the loan conditions after the redemption of the
convertible bond and after the bank has accepted the achieved level of net
IBD/EBITDA.

The profitability of the company is estimated to improve further and according
to the guidance given on 31 October 2012 the operating profit (EBIT) for July-
December 2012 is estimated to be positive.

INCAP CORPORATION
Sami Mykkänen
President and CEO

Additional information:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Kirsti Parvi, CFO, tel. +91 990 204 2813
Hannele Pöllä, Director, Communications and IR, tel. +358 40 504 8296

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.incap.fi

INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose
comprehensive services cover the entire life-cycle of electromechanical products
from design and manufacture to maintenance services. Incap's customers include
leading equipment suppliers in energy-efficiency and well-being technologies,
for which the company produces competitiveness as a strategic partner. Incap has
operations in Finland, Estonia, India and China. The Group's revenue in 2011
amounted to EUR 68.9 million, and the company currently employs approximately
670 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional
information: www.incap.fi.

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