ReutersReuters

Savosolar To Decide On Directed Share Issue Of New Shares

Savosolar Oyj SAVOS:

  • EGM RESOLVED TO AUTHORIZE BOARD OF DIRECTORS TO DECIDE ON A DIRECTED SHARE ISSUE OF COMPANY'S NEW SHARES

  • DIRECTED SHARE ISSUE RELATES TO SHARE EXCHANGE WHERE COMPANY ACQUIRES ALL SHARES IN MERIAURA LTD

  • MERIAURA LTD IN TURN OWNS ALL SHARES IN BIOLAITE LTD (NAME CHANGE TO VG-ECOFUEL LTD PENDING).

  • MAY ISSUE IN DIRECTED SHARE ISSUE A MAXIMUM OF 547,906,581 NEW SHARES OF COMPANY TO VG-SHIPPING

  • NEW SHARES TO BE ISSUED REPRESENT APPROXIMATELY 70.0 PER CENT OF COMPANY'S ALL SHARES AFTER EXECUTION OF SHARE EXCHANGE.

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