SCANFIL PLC STOCK EXCANGE RELEASE 26 March 2009 4.00 P.M
RETURN OF EQUITY FROM SCANFIL EMS OY TO SCANFIL PLC
In the business transfer executed at 1 May 2008 all contract manufacturing
assets, liabilities and provisions were transferred from the parent company
Scanfil plc to the Scanfil EMS Oy in accordance to the Business Tax Act. This
made the company's balance sheet too strong for effective equity management.
The General Meeting of Scanfil EMS Oy has decided to return equity to its parent
company Scanfil plc by decreasing the reserve for invested non-restricted equity
so that the equity ratio of Scanfil EMS Oy will be approximately 40%.
The return of equity is at the most EUR 50 million and it will be completed in
two installments. First installment, amount of EUR 20 million, will be paid as
follows: EUR 15 million by 30 April 2009 and EUR 5 million on 1 July 2009. The
second installment will be paid during autumn 2009. Part of the installment to
be executed at autumn 2009 can be settled by intercomany promissory note loan
between Scanfil plc and Scanfil EMS Oy.
The General Meeting authorized the Board to decide the final amount of the
return of the equity and required details.
SCANFIL PLC
Harri Takanen
President
Additional information:
Harri Takanen, President
Tel +358 8 4882 111
Distribution NASDAQ OMX Helsinki
Major Media
www.scanfil.com
Scanfil is a global contract manufacturer and systems supplier for communication
and industrial electronics with over 30 years experience in demanding contract
manufacturing
Scanfil offers contract-manufacturing services as a systems supplier to the
telecommunication industry, mainly to wireless communication sector, as well as
to the industrial electronics industry. Main telecommunication products are
among others integrated enclosure systems for mobile phone and ADSL networks and
assembly and testing of modules related to enclosure systems. Examples of
industrial electronics products include box-built tested devices, various
electronic modules, backplanes and assembled circuit boards as well as cable
assemblies. Production plants are situated in China, Hungary, Estonia and
Finland.