Incap: The final result of the rights issue of Incap Corporation: Rights issue was over-subscribed

Incap Corporation                
Stock Exchange Release      24 June 2015 at 5 pm (EET)

THE FINAL RESULT OF THE RIGHTS ISSUE OF INCAP CORPORATION: RIGHTS ISSUE WAS OVER-SUBSCRIBED

The information in this stock exchange release is not intended to be disclosed or distributed, directly or indirectly partly or in whole, in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or in the United States or in any other country where the disclosure or distribution of this stock exchange release would be contrary to law. 

The Board of Directors of Incap Corporation (the “Company”) has, based on the authorization granted to it by the Company’s Extraordinary General Meeting on 7 May 2015, resolved on 25 May 2015 on the share issue against payment (the “Rights issue”) in which the Company offered to its shareholders based on the pre-emptive subscription right of the shareholders at the most 109,114,035 new Company shares (the “New Shares”) for subscription. The subscription period began on 1 June 2015 and ended 22 June 2015.

Based on the final result of the Rights Issue altogether 106,585,585 new Shares were subscribed by the Preferred Subscription Rights and altogether 52,850,453 new Shares were subscribed by the Secondary Subscription Rights i.e. altogether approximately 146 per cent of all the New Shares offered. The Board of Directors has accepted 106 585 585 new Shares acceptably subscribed by the Preferred Subscription Rights and 2,528,450 new Shares acceptably subscribed by the Secondary Subscription Rights i.e. altogether 100 per cent of all the New Shares offered.

Inission AB, Oy Etra Invest Ab and Ilmarinen Mutual Pension Insurance Company, the three biggest shareholders of the Company, subscribed for the New Shares in accordance with their conditional subscription undertakings by subscribing at minimum for such number of the New Shares that corresponds to their pro rata proportions of the Company’s outstanding shares.

The Company thus collected EUR 2,181,280.70 new equity through the Rights Issue i.e. the full amount targeted under the Rights Issue. Thus the final result of the total amount collected does not deviate from the initial result disclosed by the Company on 23 June 2015. Altogether 1,033 subscribers participated in the Rights Issue by the Preferred Subscription Rights and altogether 471 subscribers by the Secondary Subscription Rights.

As a result of the Rights Issue, the amount of the Company’s shares will increase from 109,114,035 to 218,228,070 shares. The total subscription price amounting to EUR 2,181,280.70 shall be recorded in the invested unrestricted equity reserve of the Company in its entirety. The Rights Issue shall not amend the registered share capital of the Company.

The New Shares will be registered with the Trade Register on or about 29 June 2015 and will be admitted to trading on NASDAQ OMX Helsinki on 1 July 2015.

Jonver Capital Oy acts as the financial advisor and Bird & Bird Attorneys Ltd. acts as the legal advisor to Incap in the Share Issue.

To be noted:

This stock exchange release must not be interpreted as a direct or indirect offer to sell or acquire the securities, and none of the securities will be sold in areas where it is contrary to law to offer, acquire or sell securities before the registration of such securities or before an exception has been granted or an approval has been issued in accordance with the applicable securities legislation.

The information of this stock exchange release does not constitute an offer to sell securities in the United States, and securities subject to this release shall not be offered or sold in the United States unless they have been registered in accordance with the Securities Act of 1933 (including amendments) and provisions and regulations issued under the Act or unless the registration requirement has been waived. No offer to sell the securities or no part of such offer is or will be registered in the United States, and the securities will not be offered to the public in the United States.

In Helsinki, 24 June 2015

INCAP CORPORATION


Board of Directors

Further information:
Ville Vuori, President and CEO, tel. +358 400 369 438
Kirsti Parvi, CFO, tel. +358 50 517 4569

Distribution:
NASDAQ OMX Helsinki Ltd
Principal media
www.incapcorp.com

INCAP IN BRIEF
Incap Corporation is an international contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and sourcing to actual manufacture and further to maintenance services. Incap’s customers are leading suppliers of high-technology equipment in their own business segments, and Incap increases their competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China and the company currently employs approximately 380 people. Incap’s share has been listed on the NASDAQ OMX Helsinki Ltd since 1997. Additional information: www.incapcorp.com