ASPOCOMP HAS ACQUIRED THE MINORITY SHARE IN ITS CHINESE JOINT VENTURE
Aspocomp Group Oyj Company Announcement April 4, 2007 at 1:45 p.m.
Aspocomp has today concluded the acquisition of the minority share in its Chinese joint venture ACP Electronics Ltd from Chin-Poon Holdings. The related agreement was signed on March 16, 2007. Due to the purchase of the 49 percent minority share, Aspocomp Group Oyj has increased its holding in ACP Electronics to 100 percent.
In order to finance the acquisition, Aspocomp has today taken out a EUR 40 million loan from Standard Chartered Bank (Hong Kong) Limited. The maximum effective annual interest of the loan, calculated at today’s reference interest rate, is 12.9 percent including interest, related structuring fee and a possible additional fee described below. In conjunction with taking out the loan, Aspocomp granted Standard Chartered Bank 4 million warrants that entitle the bank to subscribe for 4 million shares in Aspocomp. In relation to the warrants, the company may have an obligation at the end of the loan period to pay Standard Chartered Bank a maximum additional fee of EUR 2 million. The requirement to pay any additional fee and amount thereof is subject to the development of the company’s share price.
Further details on the acquisition and loan can be found in the stock exchange releases dated on March 16, 2007, and March 21, 2007.
For further information, please contact Maija-Liisa Friman, CEO,
tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
President and CEO
Aspocomp: Innovative interconnection solutions for the electronics industry
The Aspocomp Group offers and develops innovative interconnection solutions for the electronics industry in close cooperation with its customers. We are strongly positioned as a supplier of mobile data terminal equipment components and aim to further bolster our position as a supplier to the automotive industry and data communications networks. We offer our global customers a fast road to mass production through flexible and cost-effective adaptation of new technologies.
The Aspocomp Group’s production facilities are located close to its customers in Finland, China, and Thailand. In 2006, the Group’s net sales stood at EUR 149 million and it had about 3,350 employees.
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