Helsinki, Finland, 2013-02-21 17:45 CET (GLOBE NEWSWIRE) --
Glaston Corporation Stock Exchange Release 21 February 2013 at 18.45 p.m.
Notification of Change in Holdings according to Chapter 9, Section 10 of the Securities Markets Act
Glaston Corporation has today received a notification of change in holdings in accordance with Chapter 9, Section 5 of the Securities Markets Act as follows:
Hymy Lahtinen Oy´s share of the total number of shares and voting rights in Glaston Corporation will exceed 5 per cent as a result of the arrangement which, if completed, may result in the exceeding of the flagging threshold.
In accordance with Chapter 9, Section 5 of the Finnish Securities Markets Act we hereby notify the Financial Supervisory Authority and Glaston Corporation as follows:
1. Name of the issuer of shares: Glaston Corporation
2. Reason for the flagging notification: Arrangement which, if completed, may result in the exceeding of the flagging threshold of 5 per cent based on the total number of shares and voting rights as set out in Chapter 9, Section 5 of the Finnish Securities Market Act.
3. Name and business identity code of the shareholder subject to the notification obligation: Hymy Lahtinen Oy, Business ID 0854536-3.
4. Share of the total number of shares and voting rights in the issuer:
Hymy Lahtinen Oy´s shareholding before the arrangement:
Number of shares: 150,200 shares
Share of the total number of shares and voting rights: 0.14 per cent
Hymy Lahtinen Oy’s shareholding following the arrangement:
Number of shares: 10,150,200 shares
Share of the total number of shares and voting rights: 5.53 per cent
5. Main content of the arrangement
Glaston Corporation announced on 7 February 2013 further information on its plan to strengthen the Company’s balance sheet and financial position. The Company is planning two directed share issues, one to the public (Share Issue) and the other to the holders of the convertible bond issued in 2009 and debenture bond issued in 2011 (Conversion Issue). Approximately a maximum total of 78 million new shares is expected to be offered in the Share Issue and Conversion issue. The subscription price will be 0.20 euro per share in the Share Issue and 0.30 euro per share in the Conversion Issue. The Board of Directors is expected to decide on the Share Issue and Conversion Issue around the end of February 2013.
As a part of the sale of the Tampere factory property, Hymy Lahtinen Oy, an investment company of Lahtiset Yhtymä, has on 21 February 2013 signed a commitment to subscribe for 10,000,000 new shares in the Share Issue prepared by Glaston Corporation.
The calculation basis for the flagging is that the Share Issue and the Conversion Issue will be carried out in the given maximum amount.
The announced number of shares and voting rights of Glaston Corporation total 105,588,636 on 21 February 2013.
Helsinki 21 February 2013
Hymy Lahtinen Oy
Helsinki 21 February 2013
CEO and President
For further information, please contact:
Mr. Arto Metsänen, CEO and President, Glaston Corporation, tel. +358 10 500 500
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers’ continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. For more information, please visit www.glaston.net. Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.
Distribution: NASDAQ OMX Helsinki Ltd, Key Media, www.glaston.net