Efore Plc has agreed on a short-term financing arrangement and plans rights offering

EFORE PLC          Stock Exchange Release   April 10, 2018   15:10 p.m.   

Efore Plc has agreed on a short-term financing arrangement and plans rights offering

Efore Plc has agreed on a short-term financing arrangement of EUR 4,4 million with a number of  company shareholders. Part of the credit package has been granted by Jussi Capital Oy and Rausanne Group, which belong to the related parties of the company. Other lenders belong to the 20 biggest shareholders of the company. The credit arrangement has been conducted on normal market equivalent terms.

The Board has decided to propose to an Extraordinary General Meeting of Shareholders that the Board be authorized to resolve on a rights issue in order to strengthen the capital structure and working capital of the company. The Extraordinary General Meeting of Shareholders will be convened separately. The targeted size of the rights offering is total EUR 10-13 million. All the above mentioned lenders have informed contributing positively to the successful completion of the rights offering. The company will issue a notice of the General Meeting on a separate release later.

EFORE PLC

Board of Directors

For further information please contact  Jorma Wiitakorpi, CEO, tel. +358 40 175 8510

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Efore Group
Efore Group is an international company which develops and produces demanding power products. Efore's head office is based in Finland and its sales, marketing and product development units are located in China and Europe. In addition, the group has a sales and marketing unit in United States. In the fiscal year ending in December 2017, consolidated net sales totaled EUR 69.9 million and the Group's personnel averaged 432. The company's share is quoted on the Nasdaq Helsinki Ltd.