PCB |
Aspocomp has acquired the<br>minority share in its Chinese JV
Finland based PCB producer Aspocomp has on April 4, 2007 concluded the acquisition of the minority share in its Chinese joint venture ACP Electronics Ltd from Chin-Poon Holdings.
The related agreement was signed on March 16, 2007. Due to the purchase of the 49 percent minority share, Aspocomp Group Oyj has increased its holding in ACP Electronics to 100 percent.
In order to finance the acquisition, Aspocomp has today taken out a EUR 40 million loan from Standard Chartered Bank (Hong Kong) Limited.
The maximum effective annual interest of the loan, calculated at today's reference interest rate, is 12.9 percent including interest, related structuring fee and a possible additional fee described below. In conjunction with taking out the loan, Aspocomp granted Standard Chartered Bank 4 million warrants that entitle the bank to subscribe for 4 million shares in Aspocomp. In relation to the warrants, the company may have an obligation at the end of the loan period to pay Standard Chartered Bank a maximum additional fee of EUR 2 million. The requirement to pay any additional fee and amount thereof is subject to the development of the company's share price.
