Incap Corporation

Stock Exchange Release                    1 July 2013 at 5.15 pm

INCAP CONTINUES WITH PREPARATIONS FOR SHARE ISSUE AND NEGOTIATES ON FINANCING ARRANGEMENT

Incap Corporation is preparing a directed share issue, which is aimed at strengthening the company's capital structure and covering the deficit in the company's working capital. The share issue is a part of a comprehensive financing arrangement, which includes negotiations with the company's banks, biggest shareholders and holders of convertible loans as well as with other stakeholders. The negotiations on the financing arrangement have advanced close to final and the company expects to reach a positive solution in the near future.

The previously agreed date for the test of the covenants of a Finnish bank's loans was 30 June 2013. Because the bank in question is participating in the negotiations concerning financing arrangement it has informed that it will evaluate the covenants as per 30 June 2013 only after the results of negotiations are at hand.

The final EUR 1 million instalment of the company's convertible loan issued in 2007 was due on 30 June 2013. The company is currently negotiating with the holders of the convertible loan on the rearrangement of the payment.

Sami Mykkänen, CEO of Incap Group: "There are many parties involved in the financing negotiations, and therefore the negotiations have taken time. I am satisfied with the progress in the negotiations and with the fact that different parties have shown their willingness to be flexible and to support the rearrangement of the company's financing. I trust that we are able to finalise the negotiations in the near future."

INCAP CORPORATION

Sami Mykkänen
President and CEO

Further information:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047 or +372 555 379 05
Kirsti Parvi, CFO, tel. +358 50 517 4569 or +372 555 620 35
Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 40 504 8296

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
The company's home page www.incap.fi

 

INCAP IN BRIEF
Incap Corporation is an international 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, India and China. The Group's revenue in 2012 amounted to approximately EUR 64.1 million, and the company currently employs approximately 600 people. Incap's share has been listed on the NASDAQ OMX Helsinki Ltd since 1997.Additional information: www.incap.fi.


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Source: Incap Oyj via Thomson Reuters ONE
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