Stock Exchange Rele...

Underwritings related to the proposal of the Board of Directors of Cencorp Corporation concerning issues related to strengthening of working capital and shareholders equity

26/09/2007

 

Cencorp Corporation has received underwritings corresponding to the maximum amount of the directed share issue from the members of the Board of Directors and Group Management Team as specified hereunder in the article 1.1. Underwritings are conditional to the decision of the extraordinary general meeting to be held on September 27, 2007 (hereinafter “General Meeting”)

 

Furthermore, Cencorp Corporation has received underwritings, specified hereunder in the article 1.2. from the certain holders of the convertible capital notes 2006 concerning using of the subscription right based on the convertible loan. Underwritings are conditional to the decision of the General Meeting.

 

1.1 Underwritings related to the directed share issue to the members of the Board of Directors and Group Management Team.

 

Cencorp Corporation has received underwritings, conditional to the decision of the General Meeting from following members of the Board of Directors and Group Management Team.

 

Chairman of the Board Jorma Kielenniva

Primary subscription: 30,000. 24 euros corresponding to 88,236 shares

 

Board Member Sauli Kiuru on behalf of company controlled by Mr Kiuru: Tilitoimisto Capital Oy

Primary subscription : 136,000 euros corresponding to 400,000 shares

Secondary subscription: 1,106,419. 5 euros corresponding to 3,254,175 shares

 

President and CEO Jouni Suutarinen

Primary subscription:  15,000. 12 euros corresponding to 44,118 shares

 

Vice President, Legal Affairs Ville Parpola

Primary subscription:  2,040 euros corresponding to 6,000 shares

 

Vice President, Operations Juha Kantola

Primary subscription: 2,040 euros corresponding to 6,000 shares

 

Vice President, Test Solutions Hannu Seppälä

Primary subscription: 60,000. 14 euros corresponding to 176,471 shares

 

Vice President, Sales and Marketing Kimmo Akiander

Primary subscription: 8,500 euros corresponding to 25,000 shares

 

If General Meeting accepts proposal of the Board of Directors unchanged, the above presented subscriptions come into force. This way the funds raised by the Company as a result of this share issue corresponds to the maximum amount of the issue that is 1,360,000 euros and share amount of the company increases by 4,000,000 shares. The subscription price of the shares is proposed to be recorded entirely to the fund of invested non-restricted equity.

 

Board of Directors of Cencorp Corporation has given approval to Mr. Sauli Kiuru to transfer his subscription right to Tilitoimisto Capital Oy, which is a company under his control.

 

 

1.2. Underwritings related to the convertible capital notes 2006 of Cencorp Corporation

 

Following holders of the convertible capital notes 2006 of Cencorp Corporation have informed that they will use subscription right based on the convertible loan without delay after the General Meeting if General Meeting accepts the proposal of the Board of Directors: Keskinäinen työeläkevakuutusyhtiö Varma, Etra Invest Oy, FT Capital Oy and Mr. Markku Jokela.

 

According to the underwritings, conditional to the decision of the General Meeting following holders of the convertible loan subscribe shares by all of their part of the loan as presented hereunder

 

Loan holder

Capital value of the convertible capital notes 2006 of Cencorp Corporation (EUR)

Etra Invest Oy (Business ID: 0672234-6)

400,000.30

FT Capital Oy (Business ID: 1649320-9)

499,999. 50

Markku Jokela (Personal Identity Code: 140657-0838)

149,999.50

Keskinäinen työeläkevakuutusyhtiö Varma (Business ID: 0533297-9)

2,000,000.10

 

The Board of Directors has proposed that the conversion rate of the loan is amended so that the conversion rate is equal to the average trading price of the shares of the Company during the 10 trading days prior to subscription of shares. The minimum conversion rate is EUR 0.34 and the maximum conversion rate is EUR 0.70. The subscription price of the shares is proposed to be recorded entirely to the fund of invested non-restricted equity.

 

Based on the conditional underwritings of the convertible capital notes the share amount of the company increases by minimum of  4,357,142  shares and maximum of 8,970,586 shares. 

 

at Lohja, 26  September 2007

 

Cencorp Corporation

 

BOARD OF DIRECTORS

 

For further information please contact:

Ville Parpola

Vice President, Legal Affairs

+358-40-772 64 84

 

Cencorp develops and supplies automation solutions to the electronics and semiconductor industry that enhance productivity.

 

Distribution:

Helsinki Stock Exchanges

Main media

www.cencorp.com

 

Neither  this  press  release nor any copy of  it  may  be  taken, transmitted into or distributed in the United States of America or its territories or possessions.