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2009-09-30 14:45:00 CEST 2009-09-30 14:45:00 CEST REGULATED INFORMATION Scanfil - Company AnnouncementRETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLCSCANFIL PLC STOCK EXCHANGE RELEASE 30 SEPTEMBER 2009 3.45 P.M RETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLC In the business transfer on 1 May 2008, Scanfil plc was split into an investment company, Scanfil plc, and a subgroup called Scanfil EMS Oy, which engages in contract manufacturing. In the business transfer, all contract manufacturing assets, liabilities and provisions were transferred to Scanfil EMS Oy in accordance with the provisions of the Finnish act on trade tax. This made Scanfil EMS Oy's balance sheet too strong for effective equity management. The original equity ratio aim for Scanfil EMS Oy was 35-40%, on the basis of which Scanfil EMS Oy's general meeting decided on 26 March 2009 on a return of EUR 50 million in capital to its parent company, Scanfil plc. In the current situation, the return translates into an equity ratio of approximately 50%. In its extraordinary general meeting on 30 September 2009, Scanfil EMS Oy decided to raise the capital return to EUR 65 million, which is in line with the original aim. EUR 32.6 million of the capital return has so far been settled by cash assets and Scanfil plc has today decided to issue a promissory note loan to Scanfil EMS Oy for the remaining EUR 32.4 million. SCANFIL PLC Harri Takanen President Additional information: President Harri Takanen Tel +358 8 4882 111 Distribution NASDAQ OMX Helsinki Major Media www.scanfil.com Scanfil Group comprises the investment and parent company Scanfil plc, and a subgroup called Scanfil EMS Oy, which is engaged in contract manufacturing for international telecommunications technology and industrial electronics manufacturers. The objective of the investment activities is to make the management of the company's funds more effective and productive by diversifying the risks and finding new growth potential. Scanfil has over 30 years of experience in demanding contract manufacturing. Scanfil is a systems supplier that offers its products and services to international telecommunications systems manufacturers and industrial electronics customers. Typical telecommunications products include equipment systems for mobile and public switched telephone networks. Automation systems, frequency converters, lift control systems, equipment and systems for electricity production and transmission, analysers, slot machines and different meteorological instruments are just some examples of the industrial electronics products we manufacture. The company has production facilities in China, Estonia, Hungary and Finland. |
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