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Enedo Plc continues planning of financing arrangements for strategy execution and profitability turnaround

Written by Customer Service on . Posted in Public Companies.

Enedo Plc      Stock Exchange Release December 29, 2020 at 10:15 Enedo Plc continues planning of financing arrangements for strategy execution and profitability turnaround
In the half-year report on the 13th August 2020 Enedo announced planned and partly completed financing arrangements targeting to raise in total 4,3 million euros additional financing in Italy and in Finland including stand-still agreements for the current loans.Financing arrangements in Italy have been completed. As a result of these arrangements, Enedo raised in total of 2,7 million euros of additional debt in Italy during 2020. All Italian loans include a stand-still agreement and amortization free period until the summer 2021.Negotiations on financing arrangements for the parent company have also proceeded with current and other potential financiers and their scope has been extended to include also equity instruments. Enedo continues the planning of the parent company financing arrangements.The target of the financing arrangements is to secure the execution of the company strategy and profitability turnaround.
ENEDO PLCVesa Leino                                           
President and CEO              For further information please contact Mr. Vesa Leino, CEO, tel. +358 40 759 8956.DISTRIBUTIONNasdaq Helsinki Ltd
Principal media
Enedo
Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo´s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo´s three main product categories are Led Drivers, Power supplies and Power Systems. In 2019 the group´s revenue was EUR 43,3 million. Enedo has 394 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group´s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.www.enedopower.com

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