NEO INDUSTRIAL PLC STOCK EXCHANGE RELEASE 17 March 2014 at 9.30 am
NEW LONG TERM FINANCING AGREEMENT FOR NEO INDUSTRIAL’S CABLE SEGMENT
The financial negotiations of the Cable Segment of Neo Industrial Plc have been concluded and a long term financing agreement has been signed. With this arrangement the Cable Segment replaces previous short term loans with long term loans and at the same time enables a working capital increase with EUR 2 million at a later date. Group´s short term financing consists mainly of factoring finance.
Terms of the financing agreement include financial covenants for Cable Segment. In addition, the use and distribution of the funds requires consent from the financier.
Neo Industrial Plc
Board of Directors
For further information, please contact:
Jari Salo, Managing Director, tel. +358 207 209 196
Sari Tulander, CFO, tel. +358 207 209 192
Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the NASDAQ OMX Helsinki Stock Exchange. Neo Industrial's business segment is Cable Industry.