Innofactor Plc Stock Exchange Release, December 17, 2013, 08:30 Finnish time
Not for publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Hong Kong, Australia or any other jurisdiction in which the distribution or release would be unlawful
Innofactor Plc issues a EUR 3.2 million hybrid bond, i.e. capital securities. The proceeds of the hybrid bond will be used to buy back about 4.7 million Innofactor own shares from atBusiness Oy sellers estimated before end of year 2013. According to the sales agreement, Innofactor has the right to buy back from the sellers of atBusiness approximately 4.7 million shares, used as payment for the acquisition at the subscription price, at EUR 0.6739 per share before December 31, 2013, and at a 3 percent higher share price EUR 0.6941 before March 31, 2014.
The coupon rate of the bond is 9.00% per annum. The bond has no maturity but the company may exercise an early redemption option during February 2016. The settlement date of the bond is December 20, 2013. The issue was aimed primarily for domestic professional investors and it was fully subscribed.
A hybrid bond is an instrument which is subordinated to the company's other debt obligations. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the current shareholders.
Merasco Oy acts as the financial advisor. Castrén & Snellman Attorneys Ltd acts as the legal advisor to Innofactor.
Espoo, December 17, 2013
INNOFACTOR PLC
Board of Directors
Additional information:
Sami Ensio, CEO
Innofactor Plc
Tel. +358 50 584 2029
Distribution:
NASDAQ OMX Helsinki
Principal media
www.innofactor.com
Innofactor is one of the leading software providers focused on Microsoft solutions in the Nordic countries. Innofactor delivers to its customers IT projects as a system integrator and develops its own software products and services. The focus area in its own product development is Microsoft Azure based cloud solutions. Innofactor's customers include over 1,000 companies and government organizations in Finland, Denmark, Sweden and elsewhere in Europe. In its operation, Innofactor strives for long-term customer relationships. Innofactor has over 400 motivated and skilled employees in several locations in Finland, Denmark, Sweden and Russia. The five year growth of Innofactor's net sales in 2008 to 2012 has been about 35 percent annually. Innofactor is the fastest growing technology company in the Finnish stock exchange. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy.