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2009-06-17 11:00:00 CEST 2009-06-17 11:00:17 CEST REGULATED INFORMATION Salcomp Oyj - Company AnnouncementSALCOMP RENEWED ITS FINANCING ARRANGEMENTSSalcomp Plc Stock Exchange Release 17 June 2009 at 12:00 Finnish time SALCOMP RENEWED ITS FINANCING ARRANGEMENTS Salcomp Plc has today signed agreements concerning the renewal of the company's financing arrangements. The arrangements will replace the current syndicated loan arrangement signed in February 2006 totalling EUR 27.4 million in the balance sheet. The new financing arrangements consist of an EUR 20 million bank loan and of a new EUR 7 million capital loan. The loan arrangements improve the Group liquidity. The loan of EUR 20 million agreed with the Nordea Bank is capable to be syndicated and is divided to a EUR 10 million long-term loan and a EUR 10 million long-term revolving credit limit. The loan period is 3 years. The terms and conditions of the Facilities contain market customary covenants and undertakings and security cover respective the group. The capital loan of EUR 7 million is a capital loan in accordance with chapter 12 of the Finnish Companies Act and is granted by Nordstjernan AB, the majority shareholder of Salcomp. The loan carries a cumulative annual interest of 12 per cent and it will be repaid together with accrued interest at the latest on 31 December 2012, subject to legal limitations pertaining to capital loans. In addition, terms of the capital loan granted by Nordstjernan at the end of 2008 were changed to correspond with the terms of the new capital loan. Interest on both capital loans cumulate to final maturity. The capital loans include normal terms related to the financing. The matters pertaining to the capital loans have been prepared by the members of the Board of Directors who are independent of the significant shareholder. Salcomp Plc Jari Saarinen CFO Further information: Jari Saarinen, CFO, tel. +358 40 500 4206 Markku Hangasjärvi, President and CEO, tel. +358 40 731 0114 Distribution: NASDAQ OMX, Helsinki The main media www.salcomp.com |
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