Valoe Corporation Stock Exchange Release 28 August 2020 at 08.20 (Finnish time)
ISSUE OF NEW SHARES IN VALOE CORPORATION WITHOUT CONSIDERATION TO THE COMPANY ITSELF
The Board of Directors of Valoe Corporation (the "Company") has, on the basis of the authorization granted to the Board of Directors by the annual general meeting held on 28 May 2020, resolved on the issuance of a maximum of 30,000,000 new shares to the Company itself without consideration. The subscription period for the new shares commenced 27 August 2020 and shall end on 27 August 2021. New shares can be subscribed in tranches at any time during the subscription period as resolved by the Board of Directors of the Company, however, subject to total amount of treasury shares held by or pledged by the Company not exceeding 1/10 of all the shares in the Company at any time, as required under Chapter 15, Section 11 of the Companies Act.
The share issue without consideration to the Company itself is conducted to implement financing arrangements and to strengthen the capital structure of the Company.
The new shares are of the same class as the Company’s other shares and entitle to the same shareholder rights as the Company’s old shares after their registration.
The Company has on 27 August 2020 subscribed in total 3,740,000 new shares in the share issue ("Subscribed Shares"). After the registration of the Subscribed Shares in the trade register, the total number of the shares in the Company is 213,359,195 shares of which 3,740,616 shares are held by the Company.
The Subscribed Shares are estimated to be registered in the trade register approximately on 31 August 2020 and the Company shall apply for the admission of the Subscribed Shares to public trading on the stock exchange list of Nasdaq Helsinki Ltd approximately on 1 September 2020.
In Mikkeli, 28 August 2020
BOARD OF DIRECTORS
For more information:
CEO Iikka Savisalo, Valoe Corporation
Tel. +358 40 521 6082
Nasdaq Helsinki Oy
Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.