Final result of Enedo Plc’s rights issue and directed issue - Seite 2

The Issues related to the Company’s loan arrangement of EUR 8.6 million announced on 16 February 2021, through which the Company will pay back EUR 5.3 million of these loans and a total of EUR 3.3 million of the loans will be cancelled (the “Loan Arrangement”). The rest of the proceeds raised through the Issues will be used for the Company’s general working capital needs and for the execution of the Company’s turnaround programme announced on 16 February 2021. The Loan Arrangement will be executed immediately after the new shares have been entered into the Trade Register. Thereafter, Jussi Capital Oy will sell all of the Company shares it owns to Joensuun Kauppa ja Kone.

“I am very pleased with the result of the rights issue and I wish to express warm thanks to all Enedo’s existing and new shareholders who participated in the rights issue. An oversubscribed issue tells of strong confidence in the company’s turnaround programme and new profitable future”, says Enedo’s President and CEO Vesa Leino. “I also wish to thank our new significant owners who participated in the directed issue for their belief in the company and its future. The successful issues will secure the necessary finance for the execution of the turnaround programme, bring security for the duration of its execution and, through the loan arrangement, markedly improve the company’s financial and balance sheet position.”

The new shares will be entered into the Trade Register on or about 9 April 2021. The last day of trading in interim shares on the stock exchange list maintained by Nasdaq Helsinki Ltd (the “Helsinki Stock Exchange”) will be on or about 9 April 2021. Interim shares will be combined with the Company’s existing shares on or about 9 April 2021. Trading in the shares is expected to commence on Helsinki Stock Exchange on or about 12 April 2021. The new shares carry the same rights as the other shares in the Company when the shares have been registered with the Trade Register and entered in the investors’ book-entry accounts.

UB Securities Ltd is acting as the Lead Manager of the Issues, and Castrén & Snellman Attorneys Ltd is the Company’s legal advisor. Access Partners Oy is the Company’s financial adviser with respect to the Loan Arrangement.

ENEDO PLC

Vesa Leino
President and CEO

For further information, please contact Mr. Vesa Leino, CEO, tel. [phone].

DISTRIBUTION
Nasdaq Helsinki Ltd
Principal media

ENEDO IN BRIEF

Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo’s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo’s three main product categories are Led Drivers, Power Supplies and Power Systems. In 2020 the group’s revenue was EUR 38.5 million. Enedo has 354 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group’s head office is in Finland and parent company Enedo Plc is listed on Nasdaq Helsinki Oy.