FINAL RESULT OF THE RIGHTS OFFERING OF ASPOCOMP GROUP PLC AND AMENDMENT TO THE SHARE SUBSCRIPTION PRICE OF THE CONVERTIBLE LOAN AND WARRANTS
Aspocomp Group Oyj Stock Exchange release April 18, 2007 at 10:15 am
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDERECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
A total of 29,823,078 shares were subscribed for in the rights offering of Aspocomp Group Plc. The subscriptions were divided in such a manner that a total of 27,221,343 shares were subscribed for in the primary subscription and a total of 2,601,735 shares in the secondary subscription, including the shares subscribed for on April 17, 2007 by the parties that had given underwriting commitments to the company. On April 17, 2007, the parties that ad given underwriting commitments to the company subscribed for, in accordance with their commitments, 2,440,288 shares which were not earlier subscribed for in the offering. In addition, the parties that had given underwriting commitments to the company subscribed for total of 7,395,621 shares in the primary subscription. Therefore, the shares offered for subscription in the offering were fully subscribed for. Approximately 1,700 investors participated in the offering.
The Board of Directors of Aspocomp has on April 18, 2007 approved the subscriptions. The gross proceeds raised by Aspocomp in the offering were approximately EUR 25 million prior to the deduction of fees and expenses. Following the offering and the registration of the offer shares with the Finnish Trade Register, the number of Aspocomp’s shares will increase to 49,905,130 shares. All shares subscribed for in the rights offering have been paid for in full. The shares subscribed for will entitle their holders to full dividends declared by Aspocomp and all other rights in the company conferred by the shares after the offer shares have been registered with the Trade Register.
The interim shares, representing the shares subscribed for in the primary subscription, commenced trading on the Helsinki Stock Exchange on April 13, 2007. The new shares subscribed for in the offering will be registered with the Finnish Trade Register and the interim shares will be combined with Aspocomp’s existing shares on or about April 19, 2007. Trading with respect to the shares subscribed for both in the primary and secondary subscription together with Aspocomp’s existing shares will commence on the Helsinki Stock Exchange on or about April 20, 2007.
In addition, the Board of Directors of the Company resolved to amend the subscription prices of the convertible debenture loan I/2006 and stock options issued by Aspocomp in the following manner. The conversion price (subscription price) of the convertible debenture loan I/2006 is reduced by the value of the subscription right determined by the calculation agent of the loan, that is EUR 0,43. In order to reduce the conversion price, the Board of Directors of the company resolved on April 18, 2007 to amend the terms and conditions of the loan to the effect that special rights in accordance with the Finnish Companies Act are given to the holders of the loan, which entitle to subscribe for a total of 804,810 new shares of the company. As a result of the amendment, each book-entry issued for the loan entitles the holder thereof to convert the book-entry into 467 shares of the company instead of the current 389 shares of the company. The conversion price (subscription price) of the loan is EUR 2.1407 per share. The Board of Directors of the company also noted that the new share subscription price for subscription of shares on the basis of the warrants given to Standard Chartered Bank (Hong Kong) Limited shall be approximately EUR 1.13 per share. The Board of Directors of the company will resolve upon an amendment to the terms and conditions of the stock options 2006A due to the rights offering at a later stage.
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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