Glaston Oyj Abp - Company Announcement

Glaston secures long-term financing

Helsinki, Finland, 2013-02-07 11:30 CET (GLOBE NEWSWIRE) -- Glaston Corporation
Stock Exchange Release 7.2.2013 at 12.30 

Glaston secures long-term financing
On 20 December 2012, Glaston announced in a stock exchange release that it will
initiate measures to strengthen the company's financial position. As part of
the total arrangement, the company's objective was to negotiate a new long-term
credit facility with the company's current lenders. 

Glaston has today agreed on new long-term credit facility agreement, securing
financing for at least the following 12 months. The credit facility will enter
into effect when certain conditions, such as a share issue and the conversion
of convertible and debenture bonds into equity, have been fulfilled. Glaston
has received commitments from a sufficient number of shareholders participating
in the Extraordinary Meeting of Shareholders to ensure that the meeting will
approve the share issue. In addition, Glaston has reveived a sufficient number
of commitments to ensure, that the minimum required number of shares will be
subscribed in the share issue. Furthermore, Glaston's Board of Directors
initiated negotiations at the end of 2012 with the convertible bond and
debenture bond holders on the conversion of such loans into Glaston shares. A
majority of convertible bond holders as well as the debenture bond holders have
committed to exchange their bond holdings into Glaston shares. 



Other actions related to strengthening the company's financial position will be
published in due course. 



For further information, please contact:
Arto Metsänen, CEO and President, Glaston Corporation, Tel. +358 10 500 500
Sasu Koivumäki, CFO, Glaston Corporation, Tel. +358 10 500 500






GLASTON CORPORATION
Agneta Selroos
Director, Communications and Marketing

Distribution: NASDAQ OMX, key media, www.glaston.net



Glaston Corporation
Glaston is a global company developing glass processing technology for
architectural, solar, appliance and automotive applications. Our portfolio
ranges from pre-processing and safety glass machines to services. We are
dedicated to our customers' continued success and provide services for all
glass processing needs with a lifecycle-long commitment in mind. For more
information, please visit www.glaston.net. 
Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.