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Press release

Enfo Oyj’s rights issue was oversubscribed

Intro

Enfo Oyj’s rights issue of approximately EUR 4.2 million, with pre-emptive subscription right for existing shareholders, was oversubscribed. The proceeds from the rights issue are used to finance the acquisition of the SAP ERP business which Enfo acquired from Solteq Oyj in the end of 2019.

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“We are happy for the confidence in us. Unfortunately, not all interested were able to subscribe the wished amount,” comments Enfo’s CEO Seppo Kuula.

The subscription period commenced on January 13, 2020 and expired on January 24, 2020. On January 30, 2020, Enfo’s Board approved in full all subscriptions made pursuant to subscription rights, as well resolved on the allocation of secondary subscription commitments in proportion of the ownership of shares by the respective parties. Due to the oversubscription of shares, it was necessary to cut the secondary subscriptions.

The new shares (82,233) will entitle their holders to full shareholders’ rights when the shares have been registered in the Trade Register and in the company’s shareholder register, on or about February 10, 2020.

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