23.03.2007
OFFERING CIRCULAR ON ASPOCOMP’S RIGHTS OFFERING TO BE PUBLISHED ON MARCH 26, 2007
Aspocomp Group Oyj Announcement of Prospectus March 23, 2007 at 5:45 p.m.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES.
The Finnish Financial Supervision Authority has today approved Aspocomp Group Oyj’s offering circular, which will be published on March 26, 2007 at 9.00 a.m. Finnish time. The offering circular will be available in Finnish on March 26, 2007, at the company’s head office (Unioninkatu 18, 00130 Helsinki), at the head office of Evli Bank Plc (Aleksanterinkatu 19A, 00100 Helsinki), and at the Helsinki Stock Exchange service point OMX Way (Fabianinkatu 14, 00100 Helsinki).
The Finnish offering circular will also be available on the company’s website at www.aspocomp.com and on Evli Bank Plc’s website at www.evli.com.
Aspocomp’s financial statements for the year 2006 were published on the company’s Internet site at http://www.aspocomp.com/investor/ovk.html on March 22, 2007.
The Board of Directors of the company will resolve upon a decrease of the conversion price of the company’s convertible debenture loan I/2006 after the rights offering has been completed. Such decrease will correspond to the value of the primary subscription right, which will be determined by the calculation agent of the convertible debenture loan I/2006.
The offering circular contains the following unpublished information:
Profit forecast
The full-year net sales from continued operations of the Aspocomp Group are forecast to increase in 2007 compared to the previous year. The company’s profitability is expected to improve on 2006, however, the full-year result in 2007 is anticipated to be clearly unprofitable and liquidity to remain weak. Net sales and result for the first quarter of 2007 are expected to be lower than for the corresponding period in 2006.
The Salo plant conversion
The Salo plant’s conversion project will continue. After the conversion, the aim is to develop and test new, advanced technologies at the plant, to manufacture product development prototypes and small test series and to continue research and development located in the premises. The company will monitor the Salo plant’s progress and financial performance closely. In case it seems clear that the financial and operational goals set for the conversion project will not be reached during the first half of 2007, the company will consider all options, including a possible closing of the plant, to rectify the unsatisfactory situation.
Underwriting commitment
The company has received an underwriting commitment for the full amount of the offering from a group of investors comprising 2M Ventures Oy, Ajanta Oy, Avenir Rahastoyhtiö Oy, E. Öhman J:or Fondkommission AB, Oy Hammarén & Co Ab, Varma Mutual Pension Insurance Company Ltd, Oy Finvestock Ab, Ramsay & Tuutti Oy Ab and Sampo Life Insurance Company. Based on the underwriting commitment, the above-mentioned investors have agreed to subscribe for all the shares offered in the righs offering that would otherwise remain unsubscribed based on the rights with a total maximum of 29,823,078 shares. The underwriting commitment is subject to certain customary conditions, including, among others, the condition that there has been no material market disruption or a material adverse change in the financial condition of Aspocomp.
For further information, please contact Maija-Liisa Friman, CEO,
tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
Helsinki, March 23, 2007
The Board of Directors
Distribution:
The Nordic Exchange
Major media
www.aspocomp.com