Neo Industrial has carried out arrangement where it has bought back convertible bonds issued in 2011 and which are due in 2016. The purchase is financed with new debt financing. At the same time, as a part of the arrangement, the maturity of earlier acquired EUR 1.1 million loan was prolonged by ten (10) years.
In year 2011 issued and subscribed convertible Bonds are senior unsecured loans due 2016 with total principal amount of EUR 6 million and entitle cash compensation based on the Company's class B share price. The Bonds carry a coupon of 7.50% per annum. Neo Industrial group bought the Bonds back with EUR 1 million. The arrangement has positive, round EUR 4.7 million, effect on to the net result of Neo Industrial group.
Neo Industrial Plc
The Board of Directors
Further information:
Jari Salo, Managing Director, tel. +358 20 720 9196
Sari Tulander, CFO, tel +358 20 720 9192
www.neoindustrial.fi
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.