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2009-03-26 15:00:00 CET 2009-03-26 15:00:10 CET REGULATED INFORMATION Scanfil - Company AnnouncementRETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLCSCANFIL PLC STOCK EXCANGE RELEASE 26 March 2009 4.00 P.M RETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLC In the business transfer executed at 1 May 2008 all contract manufacturing assets, liabilities and provisions were transferred from the parent company Scanfil plc to the Scanfil EMS Oy in accordance to the Business Tax Act. This made the company's balance sheet too strong for effective equity management. The General Meeting of Scanfil EMS Oy has decided to return equity to its parent company Scanfil plc by decreasing the reserve for invested non-restricted equity so that the equity ratio of Scanfil EMS Oy will be approximately 40%. The return of equity is at the most EUR 50 million and it will be completed in two installments. First installment, amount of EUR 20 million, will be paid as follows: EUR 15 million by 30 April 2009 and EUR 5 million on 1 July 2009. The second installment will be paid during autumn 2009. Part of the installment to be executed at autumn 2009 can be settled by intercomany promissory note loan between Scanfil plc and Scanfil EMS Oy. The General Meeting authorized the Board to decide the final amount of the return of the equity and required details. SCANFIL PLC Harri Takanen President Additional information: Harri Takanen, President Tel +358 8 4882 111 Distribution NASDAQ OMX Helsinki Major Media www.scanfil.com Scanfil is a global contract manufacturer and systems supplier for communication and industrial electronics with over 30 years experience in demanding contract manufacturing Scanfil offers contract-manufacturing services as a systems supplier to the telecommunication industry, mainly to wireless communication sector, as well as to the industrial electronics industry. Main telecommunication products are among others integrated enclosure systems for mobile phone and ADSL networks and assembly and testing of modules related to enclosure systems. Examples of industrial electronics products include box-built tested devices, various electronic modules, backplanes and assembled circuit boards as well as cable assemblies. Production plants are situated in China, Hungary, Estonia and Finland. |
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