Stock Exchange Release 7 September 2015 at 9 am (EET)
INCAP HAS REPAID THE SHARE CAPITAL INVESTMENT OF FINNFUND
Incap has repaid the share capital investment of EUR 1.9 million, which Finnfund made in the Indian subsidiary of Incap in 2009. After this, Finnfund no longer holds its previous 22.5-% share of Incap Contract Manufacturing Services Pvt. Ltd.
Based on the conditions of the contract the share capital investment has been considered as non-current debt in the consolidated financial statements of Incap in compliance with IFRS.
The payback of the share capital investment was realised by reducing the share capital of the Indian subsidiary and financed partly by the accumulated profit of the subsidiary and partly by local financing. The transaction has no effect on business operations of Incap.
Ville Vuori, President and CEO, tel. +358 400 369 438
NASDAQ OMX Helsinki Ltd
The company's home page www.incapcorp.com
INCAP IN BRIEF
Incap Corporation is an international contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and sourcing to actual manufacture and further to maintenance services. Incap's customers are leading suppliers of high-technology equipment in their own business segments, and Incap increases their competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The company currently employs approximately 400 people. Incap's share is listed on the NASDAQ OMX Helsinki Ltd. since 1997. Additional information: www.incapcorp.com.
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Incap Oyj via Globenewswire