Valoe Corporation Inside Information 2 December 2019 at 9.50 Finnish time
Valoe Corporation (the "Company") acquired the solar cell production business of JCS SoliTek R&D ("Solitek") from Lithuanian Global BOD Group SIA ("BOD"). The acquisition was completed, and the title and the ownership of the Lithuanian solar cell factory was transferred to Valoe on 28 October 2019. As disclosed on 21 October 2019, Valoe was supposed to pay BOD EUR 0.5 million of the purchasing price with a convertible bond that was issued on 5 November 2019 and the rest of the purchase price, i.e. EUR 1.1 million, by 30 November 2019.
Valoe has not paid the remaining purchase price. The parties negotiate on arrangements for the payment of the remaining purchase price and the convertible bond. The company will disclose a release once the negotiations have been completed.
In Mikkeli 2 December 2019
Board of Directors
For more information:
Iikka Savisalo, President and CEO, Valoe Corporation
Tel. +358 40 521 6082
email: [email protected]
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 company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.