The Financial Supervisory Authority has issued to Incap a public reprimand under section 40 of the Act on the Financial Supervisory Authority
Incap Corporation Stock Exchange Release
5 May 2011 at 1 p.m.
THE FINANCIAL SUPERVISORY AUTHORITY HAS ISSUED TO INCAP A PUBLIC REPRIMAND UNDER SECTION 40 OF THE ACT ON THE FINANCIAL SUPERVISORY AUTHORITY
The Financial Supervisory Authority has issued a public reprimand under Section 40 of the Act on the Financial Supervisory Authority (878/2008) to Incap Corporation due to the fact that the company has
failed to comply with Annex III Item 3.1 of the Commission Prospectus Regulation (EC) No 809/2004 through not providing a statement in its prospectus stipulated in Chapter 2 Section 3 of the Securities Market Act (495/1989) and published on 29 June 2011 that the company's working capital is not sufficient for its requirements at the time and through not providing a description on how it intends to provide the additional working capital needed,
through not providing such statement as mentioned in section 1), at the same time failed to comply with Chapter 2 Section 3a Subsection 1 of the Securities Market Act as the prospectus has not contained material and sufficient information regarding the company's financial position whereby the investors were neither provided with such sufficient information as stipulated in the mentioned section in order to be able to make a founded assessment on the securities and their issuer.
The Board of the Financial Supervisory Authority has decided to issue a public reprimand in its meeting on 28 April 2011.
Incap Corporation has provided the Financial Supervisory Authority with requested answers. Incap has a different view on the foundations of the decision. However, Incap will not make use of its right of appeal but abides by the decision given by the Financial Supervisory Authority.
President and CEO
For additional information, please contact:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Eeva Vaajoensuu, Chief Financial Officer, tel. +358 40 763 6570
Hannele Pöllä, Director, Communications and HR, tel. +358 40 504 8296
NASDAQ OMX Helsinki Ltd
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to maintenance services. Incap's customers include leading equipment suppliers in energy efficiency and well-being technologies, for which the company produces competitiveness as a strategic partner. Incap has operations in Finland, Estonia and India. The Group's revenue in 2010 amounted to EUR 59.2 million and the company currently employs approximately 730 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.