Incap continues with preparations for share issue and negotiates on financing arrangement
(Thomson Reuters ONE) -
Incap Corporation
Stock Exchange Release 1 July 2013 at 5.15 pm
INCAP CONTINUES WITH PREPARATIONS FOR SHARE ISSUE AND NEGOTIATES ON FINANCING
ARRANGEMENT
Incap Corporation is preparing a directed share issue, which is aimed at
strengthening the company's capital structure and covering the deficit in the
company's working capital. The share issue is a part of a comprehensive
financing arrangement, which includes negotiations with the company's banks,
biggest shareholders and holders of convertible loans as well as with other
stakeholders. The negotiations on the financing arrangement have advanced close
to final and the company expects to reach a positive solution in the near
future.
The previously agreed date for the test of the covenants of a Finnish bank's
loans was 30 June 2013. Because the bank in question is participating in the
negotiations concerning financing arrangement it has informed that it will
evaluate the covenants as per 30 June 2013 only after the results of
negotiations are at hand.
The final EUR 1 million instalment of the company's convertible loan issued in
2007 was due on 30 June 2013. The company is currently negotiating with the
holders of the convertible loan on the rearrangement of the payment.
Sami Mykkänen, CEO of Incap Group: "There are many parties involved in the
financing negotiations, and therefore the negotiations have taken time. I am
satisfied with the progress in the negotiations and with the fact that different
parties have shown their willingness to be flexible and to support the
rearrangement of the company's financing. I trust that we are able to finalise
the negotiations in the near future."
INCAP CORPORATION
Sami Mykkänen
President and CEO
Further information:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047 or +372 555 379 05
Kirsti Parvi, CFO, tel. +358 50 517 4569 or +372 555 620 35
Hannele Pöllä, Director, Communications and Investor Relations, tel.
+358 40 504 8296
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
The company's home page www.incap.fi
INCAP IN BRIEF
Incap Corporation is an international contract manufacturer whose comprehensive
services cover the entire life-cycle of electromechanical products from design
and manufacture to maintenance services. Incap's customers include leading
equipment suppliers in energy efficiency and well-being technologies, for which
the company produces competitiveness as a strategic partner. Incap has
operations in Finland, Estonia, India and China. The Group's revenue in 2012
amounted to approximately EUR 64.1 million, and the company currently employs
approximately 600 people. Incap's share has been listed on the NASDAQ OMX
Helsinki Ltd since 1997. Additional information: www.incap.fi.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Incap Oyj via Thomson Reuters ONE
[HUG#1713258]
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2013 - 16:15 Uhr
Sprache: Deutsch
News-ID 274829
Anzahl Zeichen: 3695
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Incap continues with preparations for share issue and negotiates on financing arrangement"
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Incap Oyj (Nachricht senden)
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