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Valoe Corporation Has Negative Equity

Valoe Oyj
Valoe Oyj

Valoe Corporation                Stock Exchange Release 27 May 2024 at 19.50 Finnish time

The Board of Directors of Valoe Corporation has discovered that the company has negative equity and has filed a notice of the loss of share capital with the Finnish Trade Register.

On 22 January 2024, Valoe entered into restructuring proceedings. A draft restructuring programme must be submitted to the court for approval by 14 June 2024. Valoe's Board of Directors estimates that the restructuring programme should significantly improve the equity in Valoe's balance sheet. If the restructuring programme is not completed or approved, Valoe's Board of Directors will take decisions to remedy the company's financial position. In addition, the Board of Directors will convene a General Meeting to consider the matter.

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In Mikkeli, 27 May 2024

Valoe Corporation

BOARD OF DIRECTORS

For more information:
CEO Iikka Savisalo, Valoe Corporation
Tel. +358 405216082
email: iikka.savisalo@valoe.com

Distribution:
Nasdaq Helsinki Oy
Main media
www.valoe.com

Valoe Corporation designs, manufacturers, and sells solar power application projects, especially for vehicles and electronics. Valoe’s applications are based on the company’s own back contact technology and IBC solar cells manufactured at the Company’s cell factory in Lithuania. Valoe is headquartered in Mikkeli, Finland, with production facilities in Juva, Finland, and Vilnius, Lithuania.