Efore - Company Announcement

EFORE’S BOARD OF DIRECTORS DECIDED ON A SHARE ISSUE TO STRENGTHEN THE COMPANY’S FINANCIAL POSITION

Espoo, Finland, 2013-09-26 14:05 CEST (GLOBE NEWSWIRE) -- 
Efore Plc           Stock Exchange Release September 26, 2013 3.05 p.m.

EFORE'S BOARD OF DIRECTORS DECIDED ON A SHARE ISSUE TO STRENGTHEN THE COMPANY'S
FINANCIAL POSITION 

Not for publication or distribution in or into Australia, Canada, Hong Kong,
Japan, South Africa, the United States or any other jurisdiction in which the
publication or distribution would be unlawful. 

Efore Plc's (“Company” or “Efore”) Board of Directors has, on 26 September
2013, decided to execute a share issue directed for subscription by the public
in Finland (“Share Issue”). The purpose of the Share Issue is to strengthen the
Company's financial position. The decision on the Share Issue is based on the
authorisation granted by the Company's Extraordinary General Meeting held on 26
August 2013. The Company has engaged Alexander Corporate Finance Oy as
financial advisor for the strengthening of its financial position. 

The subscription period of the Share Issue shall begin on 1 October 2013. The
Company shall announce the combined total of subscriptions made during the
Share Issue around 9 October 2013 after the subscription period has ended. 

A maximum of 8,000,000 new shares in the Company (“New Shares”) shall be
offered for subscription by the public in Finland, in deviation from the
shareholders' pre-emption rights, at the subscription price of EUR 0.69 per
share. The subscription period of the New Shares shall begin on 1 October 2013
at 9.00 a.m. and end at the latest on 8 October 2013 at 4.00 p.m. The minimum
subscription shall be 3,000 New Shares. 

The terms and conditions for the Share Issue are appended to this stock
exchange release. The purpose of the Share Issue is to strengthen the Company's
financial position, and therefore there is a weighty financial reason from the
Company's perspective for derogating from the shareholders' pre-emptive
subscription rights. 

If all the New Shares are fully subscribed in the Share Issue, the New Shares
will, following the Share Issue, represent approximately 16.7 per cent of all
of the Company's shares and related voting rights. 

The Company has submitted a prospectus related to the Share Issue in Finnish to
the Finnish Financial Supervisory Authority for approval. The Company expects
to obtain the Finnish Financial Supervisory Authority's approval on 26
September 2013. The prospectus is expected to be available in Finnish on the
Company's website (www.efore.com/shareissue2013) and on the website of the
subscription place (www.acf.fi) as well as at the Company and at the
subscription place of the Share Issue, Alexander Corporate Finance Oy, at the
latest on 27 September 2013 at 12.00 p.m. 

EFORE PLC

Board of Directors

For further information, please contact Mr Vesa Vähämöttönen, CEO, tel. +358 9
4784 6312. 


APPENDICES: Efore Plc Share Issue Terms and Conditions 2013


DISTRIBUTION

NASDAQ OMX Helsinki Oy
Principal media

Efore Group

The Efore Group is an international company that develops and produces
demanding power products. Efore's head office is based in Finland, and its
production units are located in China and Tunisia. Sales and marketing
operations are located in Europe, the United States and China. In the fiscal
year ending in October 2012, consolidated net sales totalled EUR 78.1 million,
and the Group's personnel averaged 888. The company's shares are quoted on
Nasdaq OMX Helsinki Oy. www.efore.fi

Attachments:

APPEND Terms and conditions Efore share issue 2013.pdf