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SMT & Inspection | November 28, 2008

Cencorp signs conditional financing agreement with Sampo Bank & Savcor Group

The Board of Directors of Cencorp has reviewed the alternatives to improve the financial situation and the financing position of the company and has - as a result of the negotiations signed a conditional financing arrangement.
Cencorp, Sampo Bank and Savcor Group have on 28 November 2008 signed an agreement on a conditional financing arrangement according to which Cencorp convenes an extraordinary general meeting to resolve among others upon resulting share issues. Savcor has on 28 November 2008 purchased 5,311,213 shares in Cencorp and has notified the purchases of shares by a separate flagging notification.

Conversion of capital loan
Sampo Bank has announced that it will convert the capital loan receivable of 2,689,008.00 euros (convertible subordinated loan 2006) it has from Cencorp into shares in accordance with the terms of the capital loan agreement prior to the shareholders’ meeting. Sampo Bank will receive a total of 7,908,847 shares in the conversion. The conversion is not conditional upon the completion of the arrangement.

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