Elcoteq's Debenture Holders Agree to Amend the Terms of the Notes
(Thomson Reuters ONE) - Elcoteq SEStock Exchange ReleaseSeptember 3, 2009, at 3.30 pm (EET)Elcoteq's debenture holders held a meeting today in Helsinki. Themeeting was convened to amend the terms and conditions ofsubordinated notes I/2004, I/2005, II/2005 and I/2006 by adding thefollowing provision: "The creditor has the right to use the Note, inaccordance with the terms and conditions of the issue, for thepayment or setting off of subscription price or equivalent payment,in an issue of shares, other special rights, bonds or subordinatednotes (including instrument classified as equity) arranged by theIssuer or if the Issuer sells securities or other special rightsissued by the company that it holds, or makes an offer for theexchange of such. Subject to the consent of the noteholder, theIssuer also has the right to pay back the Loan prematurely, either inpart or in full." Concerning the note II/2005, a provision providingthat the Issuer does not have the right to pay back the loanprematurely, was to be deleted.The amendments were approved by the debenture holders except for theI/2005 note, where the decision could not be taken due to the absenceof the single noteholder. These amendments were made in order to beable to carry out restructuring actions which are needed tostrengthen the company's equity. A possible concrete proposal aboutthe restructuring of the loans will be presented to the debentureholders separately.ELCOTEQ SEMinna AilaDirector, Communications and Corporate ResponsibilityFurther information:Mikko Puolakka, CFO, tel. +358 10 413 1287Markus Kivimäki, SVP, Legal Affairs, tel. +358 10 413 1248About ElcoteqElcoteq SE is a leading electronics manufacturing services (EMS)company in the communications technology field. Elcoteq's globalservice offering covers the entire lifecycle of products, fromproduct development to after-market services. By further combiningmechanics expertise into its service offering, Elcoteq's vision is tobe a leading integrated electronics manufacturing services (IEMS)company.Elcoteq provides global end-to-end solutions consisting of productdevelopment services, supply chain management, NPI, manufacturing,and after market services for the whole lifecycle of its customers'products. These products include Consumer Electronics products suchas mobile and wireless phones, their parts and accessories, set-topboxes, flat panel TVs and other consumer products as well as SystemSolutions products such as wireless and wireline infrastructuresystems and modules, enterprise network products and other industrialsegment products.The Group's consolidated net sales for 2008 totaled 3.4 billion eurosand it employs approximately 13,000 persons. Elcoteq SE is listed onthe Nasdaq OMX Helsinki Ltd. For more information visit the Elcoteqwebsite at www.elcoteq.com.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.09.2009 - 14:30 Uhr
Sprache: Deutsch
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