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Aspocomp enters into agreement with TTM Technologies
On May 4, 2011 Aspocomp Group Plc (Aspocomp) announced that it had signed aLetter of Intent with TTM Technologies Inc. (TTM) as well as conditional agreements with its bank lenders and the majority (69.2%) of the holders of its convertible bonds.
Pursuant to the LOI, Aspocomp has today entered into an agreement with a TTM's subsidiary MTG (PCB) No. 2 (BVI) Limited (MTG). MTG has paid EUR 14.5 million as the total purchase price for 20% of the shares in Meadville Aspocomp (BVI) Holdings Ltd. (MAH) transferred by an Aspocomp's subsidiary,
In addition, Aspocomp has today agreed on the purchase of 10% of the shares in Aspocomp's operating subsidiary Aspocomp Oulu Oy (“Aspocomp Oulu”) from MTG. In consideration for the shares in Aspocomp Oulu, Aspocomp's Board of Directors has today decided on the issuance to MTG of 12,274,355 new Aspocomp shares.
The new Aspocomp shares were subscribed by MTG and the subscription price for the new Aspocomp shares was
paid by contribution in kind of the shares in Aspocomp Oulu. After the acquisition, Aspocomp Oulu is a wholly-owned subsidiary of Aspocomp. The new Aspocomp shares will be registered with the Finnish Trade Register on or about
June 9, 2011 and admitted to trading on NASDAQ OMX Helsinki Ltd. at the latest on June 15, 2011.
