Resolutions of the Extraordinary General Meeting of Enedo Plc and signing of a Eur 5.0 million loan agreement
December 23 2021 - 6:30AM
Resolutions of the Extraordinary General Meeting of Enedo Plc and
signing of a Eur 5.0 million loan agreement
Enedo Plc
Stock
Exchange Release
December
23, 2021
at
13:30
Resolutions of the Extraordinary General Meeting of
Enedo Plc and signing of a Eur 5.0 million loan
agreement
The Extraordinary General Meeting of Enedo Plc (the “Company”)
was held today 23 December 2021 at 10 a.m. in Vantaa. The
Extraordinary General Meeting decided according to the Board of
Directors proposal to authorize the Board of Directors to decide on
a directed share issue for Inission Ab for a maximum amount of
55.000.000 new shares at a subscription price of Eur 0,10 cent per
share. The directed share issue can only take place if Inission Ab
becomes liable for the loan (including interests and expenses) on
the basis of the guarantee liability and the Enedo Oyj has not paid
the recourse claim to Inission Ab despite its request.
The loan arrangement is also subject to the Financial
Supervisory Authority granting Inission Ab a permanent exemption
from the mandatory tender offer obligation pursuant to Chapter 11,
Section 26 of the Securities Markets Act even if Inission Ab’s
ownership would increase from the current 49,6% up to 72.1% as a
result of Inission Ab converting its recourse receivables based on
the above guarantee to new shares in the Company. Enedo Oyj has on
15 December 2021 informed that Inission Ab has received the
above-mentioned permanent exemption.
In the Extraordinary General Meeting 99,93% of the votes were in
favor of the Board of Directors’ proposal. All the votes were
independent from Inission Ab.
The minutes of the Extraordinary General Meeting will be
available at the Company’s website as of 6 January 2022 at the
latest.
Enedo Oyj has signed the above mentioned Eur 5.0 million loan
arrangement today. The loan will be used partly to pay back the Eur
2.0 million Bridge Loan raised from Inission Ab and partly to
finance the Turnaround Plan which the Company has released earlier
this year.
ENEDO PLC
Mikael
FryklundCEO For
further information please contact Mr. Mikael Fryklund, CEO, tel.
+358 40 500 6864.
DISTRIBUTION
Nasdaq Helsinki LtdPrincipal media
Enedo
Enedo is a European designer and producer of high-quality
electronic power supplies and systems for critical equipment even
in the most demanding environments. Enedo´s mission is to make
electricity better – more reliable, more secure, more energy
efficient – and just right to fit its purpose. Enedo´s three main
product categories are Led Drivers, Power supplies and Power
Systems. In 2020 the group´s revenue was EUR 38,5 million. Enedo
has 354 employees, and its main functions are located in Finland,
Italy, Tunisia and USA. The group´s head office is in Finland and
parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.
www.enedopower.com
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