Evia Plc Stock exchange release 23 November 2007 at 15 pm
Evia Plc's subsidiary Frame Graphics Oy to sell its business operations
Frame Graphics Oy, a wholly owned subsidiary of Evia Plc, has signed an
agreement, according to which its business operations are sold to a new company,
which has been established for the transaction. As part of the transaction the
company name Frame Graphics Oy will be transferred to the buyer company. The
purchase price is EUR 350,000. In addition the buyer company will direct a
payment-free issue of shares to the seller, whose ownership share of the new
Frame Graphics Oy will be 30%.
The realization of the transaction is subject to the successful outcome of the
financing plan. Of the purchase price EUR 250,000 has been agreed to be paid in
connection with the signing of the sales contract. The goal is to finalize the
sale during the remainder of 2007.
Frame Graphics Oy offers digital, high-quality graphics services, special
effects for moving images as well as voice and editing services. The company's
turnover in 2006 was EUR 1 million, with gross margin of EUR 0.8 million and
operating loss of EUR 0.2 million. The company employs eight people, who will
transfer into the service of the new company as old employees.
- The decision to sell the business operations of Frame Graphics Oy is in line
with the Group strategy and structure approved in September. We'll continue as a
marketing and communication-focused Group, in which the competencies and
business areas of units complement each other and add to the efficiency of
customers' marketing and communication activities, says Evia Plc's Managing
Director Jari Torvelainen.
After the finalization of the sale Evia Plc will own 30% of the new Frame
Graphics Oy. The remaining share is divided between Mr. Raimo Halmela, one of
the original founders and current employee of Frame Graphics, and Mr. Perttu
Hillman, CEO of media-industry player North-East Oy Ltd. Sari Knuutinen will
continue as Managing Director of the new Frame Graphics Oy.
If the sale of business operations can be finalized by the end of 2007, Evia Plc
will enter the proceeds of the sale into the final quarter accounts of the year
as other operating income. Evia's forecast for 2007 remains as earlier.
Evia Plc's turnover in 2006 was EUR 10,7 million with gross margin of EUR 7,5
million and operational loss of EUR 1 million.
EVIA PLC
Additional information:
CEO Jari Torvelainen
tel +358 40 555 5553, +358 9
12551
jari.torvelainen@evia.fi
Distribution:
OMX Nordic Exchange
Key media
www.evia.fi
Evia Plc's subsidiary Frame Graphics Oy to sell its business operations
| Source: Evia Oyj