© Electronics Production | July 02, 2013

Incap continues with preparations for share issue

Incap Corporation is preparing a directed share issue, which is aimed at strengthening the company's capital structure and covering the deficit in the company's working capital.
The share issue is a part of a comprehensive financing arrangement, which includes negotiations with the company's banks, biggest shareholders and holders of convertible loans as well as with other stakeholders. The negotiations on the financing arrangement have advanced close to final and the company expects to reach a positive solution in the near future.

The previously agreed date for the test of the covenants of a Finnish bank's loans was 30 June 2013. Because the bank in question is participating in the negotiations concerning financing arrangement it has informed that it will evaluate the covenants as per 30 June 2013 only after the results of negotiations are at hand.

The final EUR 1 million instalment of the company's convertible loan issued in 2007 was due on 30 June 2013. The company is currently negotiating with the holders of the convertible loan on the rearrangement of the payment.

Sami Mykkänen, CEO of Incap Group: "There are many parties involved in the financing negotiations, and therefore the negotiations have taken time. I am satisfied with the progress in the negotiations and with the fact that different parties have shown their willingness to be flexible and to support the rearrangement of the company's financing. I trust that we are able to finalise the negotiations in the near future."


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