Valoe Oyj: Valoe Corporation and Global Bod Group Have Agreed on Extension to the Payment Term of the Remaining Purchase Price of Solar Cell Factory i
Valoe Corporation Stock Exchange Release 16
September 2019 at 10.00 Finnish time
Valoe Corporation (the Company) announced on 19 February 2019 that it has
agreed to acquire the solar cell production business of JCS SoliTek R&D
(Solitek) from Lithuanian Global BOD Group SIA (BOD). The Company
estimated the completion of the transaction to take place in connection
with the payment of the remaining purchase price approximately in May 2019.
On 19 July 2019 Valoe disclosed that the Company and BOD have agreed on
amendments of the terms regarding payment of the purchase price and
completion so that the remaining purchase price in the amount of EUR 3.2
million shall be paid by the end of September 2019.
The Company and BOD have now agreed on extension to the payment term of the
remaining purchase price and agreed that the remaining purchase price of
EUR 3.2 million shall be paid by the funds to be collected in the share
issue contemplated to be arranged by the Company during the second half of
the year 2019 by 18 October 2019. The other terms of the acquisition
disclosed by the Company,including the minimum proportion of EUR 2.8
million the parties have agreed on, remain unchanged.
In Mikkeli 16 September 2019
Board of Directors
For more information:
Iikka Savisalo, President and CEO, Valoe Corporation
Tel. +358 40 521 6082
NASDAQ OMX, Helsinki
Valoe Corporation specializes in the clean energy, especially in
photovoltaic solutions. Valoe provides automated production technology for
solar modules based on the companys own technology; production lines for
modules; solar modules and special components for solar modules. Valoes
head office is located in Mikkeli, Finland.