Savo-Solar Plc
Company Announcement 4 July 2017 at 9:45 a.m. (CEST)
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Savo-Solar Plc announces preliminary outcome of the oversubscribed rights issue
Savo-Solar Plc ("Savo-Solar" or the "Company") has carried out a rights issue of approximately EUR 4.3 million (the "Offering") during the time period between 14 June and 30 June 2017 in Finland and between 14 June and 28 June in Sweden. The Offering has been subscribed to 113 %. The final outcome of the Offering and the allocation will be announced on 5 July 2017 after the cancellation period of subscriptions due to the prospectus supplement published on 30 June 2017 has ended.
The Board of Directors of Savo-Solar will resolve on 5 July 2017 to approve the subscriptions received in the Offering, as well as the allocation of offered shares and warrants.
As announced on 29 June 2017, Savo-Solar has been selected as the preferred bidder in a tender for the delivery of a solar thermal plant to the company newHeat SAS in France. For this reason, the Company prepared a supplement to the prospectus, which was published on 30 June 2017. As stated in the supplement, the investors who have subscribed for offer shares before the publication of supplement to the prospectus may choose to cancel their subscriptions. The cancellation right must be exercised no later than on 4 July 2017 at 18:00 Finnish time (17:00 Swedish time).
Advisers
Mangold Fondkommission AB and Augment Partners AB are acting as financial advisors to the Company in the Offering. Smartius Oy is acting as the legal adviser to the Company on aspects of the Offering related to the Finnish law.
SAVO-SOLAR PLC
For more information:
Savo-Solar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com
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 4 July 2017 at 9:45 a.m. (CEST).
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. www.savosolar.com.