Aspocomp Group Plc
Company Announcement
FINAL RESULT OF CASH TENDER OFFER FOR ASPOCOMP GROUP PLC'S CONVERTIBLE BONDS
Espoo, Finland, 2011-06-28 08:00 CEST (GLOBE NEWSWIRE) —
Aspocomp Group Plc., Company Announcement, June, 28 2011 at 9:00 a.m.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA AND THE UNITED STATES
The offer period in the cash tender offer by Aspocomp Group Plc (“Aspocomp” or the “Company”) for all the convertible bonds issued by it on December 1, 2006 which entitle their holders to subscribe for shares in the Company (the “Convertible Bonds”) and which the Company has not redeemed earlier on the basis of a redemption agreement signed on May 4, 2011 (the “Redemption Agreement”), ended on June 22, 2011 at 4:00 p.m. Finnish time.
According to the final result of the tender offer, the Convertible Bonds for which the tender offer has been validly accepted represent approximately 25.6 % of the original nominal value of all the Convertible Bonds. In addition, Aspocomp bought back 69.2% of the original nominal value of all the Convertible Bonds on June 8-10, 2011 on the basis of the Redemption Agreement. Therefore, after the completion of the tender offer, Aspocomp has bought altogether approximately 94.9 % of the original nominal value of all the Convertible Bonds. After the completion of the tender offer, the holders of the Convertible Bonds will have the Convertible Bonds in the nominal value of EUR 530,000, of which EUR 330,000 (3.2 % of the original nominal value) with interest becomes due and payable on December 1, 2011 and EUR 200,000 (1.9% of the original nominal value) with interest becomes due and payable on December 1, 2013.
Aspocomp will complete the tender offer published on May 24, 2011 in accordance with its terms and conditions preliminarily today, June 28, 2011, with respect to all of those holders of the Convertible Bonds who have validly accepted the tender offer and who have not validly withdrawn their acceptance. The completion trades of the Convertible Bonds will be settled preliminarily on June 30, 2011.
As a result of the above-described transactions together with the transactions announced by Aspocomp on June 8, 2001, the nominal value of Aspocomp’s interest-bearing debt will decrease to approximately EUR 2.3 million (nominal value of the interest-bearing debt at the end of Q1/2011 was EUR 23.5 million). Aspocomp’s equity will improve by approximately EUR 2.9 million and equity ratio will improve approximately 37 percentage points (equity ratio at the end of Q1/2011 was 11.1%).
For further information, please contact Sami Holopainen, CEO,
tel. +358 9 59 181.
ASPOCOMP GROUP PLC.
Sami Holopainen
President and CEO
www.aspocomp.com
Aspocomp: Flexibility of product design
Aspocomp Group Plc provides services for the design and manufacture of high-tech PCBs. Aspocomp’s products are used in the electronics industry, for instance, in telecommunications networks, automobiles and many type of industrial applications.
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