Press release, Vaasa 30 June 2022
Sentiec Oyj (the "Company") announced on 25 April 2022 that its up to SEK 500,000,000 senior secured bonds with ISIN SE0015503495 (the "Bonds"), were, subject to certain conditions, to be redeemed in advance in accordance with Clause 9.3 (Voluntary Total Redemption (Call Option)) of the terms and conditions of the Bonds (the "Terms and Conditions"). Terms defined in the Terms and Conditions have the same meaning in this press release unless given a different meaning herein
On 11 May 2022, the Company announced that completion of the acquisition by Cyient Limited and Cyient Europe Limited of 100 per cent. of the shares and votes in Citec Engineering India Private Limited and in Sentiec Oyj (together the "Acquisition") is taking longer than expected and that the Acquisition would likely be completed during the quarter ending 30 June 2022. The early redemption previously communicated was therefore withdrawn in connection therewith.
The Company hereby informs that the work relating to the Acquisition is still ongoing and is taking longer than previously expected. The Acquisition is likely to be completed during the quarter ending 30 September 2022. The intention is still to redeem the Bonds in full following completion of the Acquisition.
For further information, please contact:
Johan Westermarck, CEO
E-mail: johan.westermarck@citec.com
Mobile: +358 50 339 7972
Information:
This information is information that Sentiec Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 06:55 EET on 30 June 2022.
