Savo-Solar Plc’s directed share issue for payment of the Board’s remuneration

Savo-Solar Plc
Company Announcement                  8 November 2017 at 8 a.m. (CET)

Savo-Solar Plc’s directed share issue for payment of the Board’s remuneration

The Board of Savo-Solar Plc has decided on a directed share issue without consideration to be used for the payment of the second instalment of the Board members’ remuneration with shares in accordance with the resolution by the Annual General Meeting on 28 March 2017. The company issues a total of 117,241 new shares, which are offered for subscription to the members of the Board of Directors without consideration. The Chairman of the Board is offered a total of 58,621 new shares and other the Board members are offered 29,310 new shares each, except Sami Tuhkanen, who has informed that he will not accept any remuneration. When calculating the number of shares the volume weighted average price of the company’s share on First North Sweden during the period from 28 August to 7 September 2017 has been used, i.e. SEK 0.70.

Board of Directors

For more information:
Savo-Solar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734

This company announcement contains information that Savo-Solar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 8 November 2017 at 8 a.m. (CET).

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.

The company’s Certified Adviser is Augment Partners AB, phone: +46 8 505 65 172.