Press Release 10 March 2015 at 9.35 p.m. (EET)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE USA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURSIDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.
SAVO-SOLAR LTD HAS RECEIVED A POSITIVE DECISION FROM THE TAX AUTHORITIES – PROSPECTUS SUPPLEMENTED
Savo-Solar Ltd. (“Savo-Solar” or the “Company”) has received a decision from the tax authorities on 9 March 2015 based on which the Company is entitled to utilise tax losses accrued during 2010-2013 despite the changes in ownership during 2010 and 2013. The State Representative has a right to claim against the granted exemption during 60 days and this claim period is open at the date of this release.
The Company has drawn up a supplement to the prospectus dated 18 February 2015 due to the tax authorities’ decision. The Finnish Financial Supervisory Authority has, on 10 March 2015, approved the supplement which is attached in full to this release.
Investors who have subscribed for offer shares before the publication of supplement to the prospectus may choose to cancel their subscriptions. The cancellation right must be exercised within a cancellation period of two (2) Finnish banking days from the publication of supplement to the prospectus, i.e., no later than on 12 March 2015 at 18:00 Finnish time (17:00 Swedish time).
Cancellations must be filed with the office with which the subscription was placed. However, subscriptions placed on the website of FIM Sijoituspalvelut Oy or Mangold Fondkommission AB cannot be cancelled on the website but should be cancelled by contacting FIM Sijoituspalvelut Oy at email@example.com or telephone +358 (0)9 6134 6250 or Mangold Fondkommission AB at firstname.lastname@example.org or telephone +46 (0)8 503 015 50.
Where an investor has cancelled their subscription, any subscription price already paid by that investor will be returned to the bank account of the investor given by the investor in connection with the subscription. The funds will be repaid within three (3) local banking days of the cancellation of the subscription. No interest will be paid on the amounts returned.
For more information:
Ingrid Östhols, communication
Phone: +46 721 810 867
Managing Director Jari Varjotie
Phone: +358 400 419 734
Encl. Prospectus supplement
Savo-Solar in brief
Savo-Solar provides solar thermal systems based on the verified world’s most efficient 2 m² collector – utilising MPE-absorbers with several patents pending – for heating of buildings, industrial processes and domestic hot water. The absorbers are coated with a highly selective optical nano-coating. Savo-Solar is, according to the available information, the only company able to coat ready-made, complete absorbers. Focus is on large scale industrial applications such as district heating, industrial process heating and energy renovations of large buildings. Since 2011 the company has sold and delivered its products in over 17 countries on four continents. www.savosolar.fi
The Company’s Certified Adviser will be Mangold Fondkommission AB, tel: +46 8 5030 1550.
This release or the information contained therein shall not be distributed, directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States. The information contained in this release do not constitute an offer of, or invitation to purchase any securities in any area, where offering, procurement of or selling such securities would be unlawful prior to registration or exemption from registration or any other approval required by the securities regulation in such area. This release is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations issued by virtue of it. Savo-Solar has not registered, and does not intend to register, any offering of securities in the United States. No actions have been taken to register the shares or the offering anywhere else than in Finland and Sweden.
The information contained herein shall not constitute an offer of, or invitation to purchase any securities in any jurisdiction. This release is not a prospectus and does not constitute any offer, invitation or investment advice to subscribe for or purchase securities. Investors should not subscribe for or purchase any securities or make any investment decisions referred to herein except on the basis of information contained in a prospectus issued by Savo-Solar.