Company Announcement 29 December 2015 at 9.30 am (CET)
Registration of the new shares subscribed for in Savo-Solar Ltd’s rights issue
The 10,591,620 new class A shares subscribed for in Savo-Solar Ltd’s (“Savo-Solar” or the “Company”) rights issue have been registered with the Finnish Trade Register on 29 December 2015. After the registration, the total number of shares in Savo-Solar is 15,887,430. All the shares in Savo-Solar are class A shares.
The temporary shares, representing the shares subscribed for pursuant to the subscription rights in the rights issue, commenced trading on 27 November 2015 on First North Finland and First North Sweden. The temporary shares will be combined with Savo-Solar’s existing shares on 29 December 2015 in the book-entry system maintained by Euroclear Finland Oy and trading in the new shares subscribed for in the rights issue is expected to commence on First North Finland on 30 December 2015. The temporary shares will be combined with Savo-Solar’s existing shares in the book-entry system maintained by Euroclear Sweden AB and trading in the new shares subscribed for in the rights issue is expected to commence on First North Sweden approximately during week 1, 2016.
After the rights issue Savo-Solar has sufficient working capital to meet its current needs for a period of 12 months as of the date of the registration.
Mangold Fondkommission AB is acting as financial advisor of the Company in the rights issue. Smartius Oy is acting as the legal advisor of the Company on aspects of the rights issue related to the Finnish law and Advokatfirman Westermark Anjou AB on aspects of the rights issue related to the Swedish law.
For more information:
Ingrid Östhols, communication
Phone: +46 721 810 867
Managing Director Jari Varjotie
Phone: +358 400 419 734
Mangold Fondkommission AB
Phone: +46 (0) 8 5030 1550
Savo-Solar in brief
Savo-Solar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savo-Solar helps its customers to produce competitive clean energy. Savo-Solar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savo-Solar is known as the most innovative company in the business, and aims to stay as such. The company has sold and delivered its products to 17 countries on four continents. Savo-Solar’s shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.fi.
The Company’s Certified Adviser is Mangold Fondkommission AB, tel.: +46 8 5030 1550.