Enedo Oyj Stock Exchange Release Decemberembers 23, 2021 at 13:30

Decisions of Enedo Oyj’s Extraordinary General Meeting and the signing of a EUR 5.0 million loan agreement

The Extraordinary General Meeting of Enedo Oyj (the “Company”) was held today, December 23, 2021, at 10 a.m. in Vantaa. In accordance with the proposal of the Board of Directors, the Extraordinary General Meeting decided to authorize the Board of Directors to decide on a directed share issue of Inission Ab at a subscription price of a maximum of 55,000,000 new shares of EUR 0.10 per share. . The directed share issue can only take place if Inission Ab becomes liable for the loan (including interest and expenses) on the basis of the guarantee liability and Enedo Oyj has not paid to Inission Ab retrospectively despite its claim.

The loan arrangement is also conditional on the Financial Supervision Authority granting Inission Ab a permanent exemption from the obligation to make a tender offer pursuant to Chapter 11, Section 26 of the Securities Markets Act, even if Inission Ab’s holding increases from the current 49.6 per cent. To 72.1% as a result of Inission Ab’s conversion of its repayment claims based on the above guarantee into new shares in the company. On December 15, 2021, Enedo Oyj announced that Inission Ab has received the above-mentioned permanent exemption.

At the Extraordinary General Meeting, 99.93% of the votes supported the Board’s proposal. All votes were independent of Inission Ab.

The minutes of the Extraordinary General Meeting will be available on the company’s website no later than January 6, 2022.

Enedo Oyj has today signed the above-mentioned EUR 5.0 million loan facility. The loan will be used in part to repay a EUR 2.0 million bridge loan raised from Inission Ab and in part to finance the company’s Turnaround Plan, announced earlier this year.

ENEDO CORPORATION

Mikael Fryklund
managing director

For more information, please contact Mikael Fryklund, President and CEO, tel. +358 40 500 6864.

DISTRIBUTION

Nasdaq Helsinki Oy
Main media

Enedo

Enedo is a European designer and manufacturer of high-quality electronic power supplies and systems for critical equipment in the most demanding environments. Enedo’s mission is to make electricity better – more reliable, safer, more energy efficient – and fit for purpose. Enedo’s three main product categories are LED controllers, power supplies and power systems. In 2020, the Group’s net sales were EUR 38.5 million. Enedo has 354 employees and its main operations are located in Finland, Italy, Tunisia and the United States. The Group’s head office is in Finland and the parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.

www.enedopower.com