Press release, Vaasa 11 May 2022
Sentiec Oyj (the "Company") has issued senior secured bonds under a framework of up to SEK 500,000,000 with ISIN SE0015503495 (the "Bonds"). Reference is made to the terms and conditions of the Bonds, originally dated 27 January 2021 (as amended from time to time) (the "Terms and Conditions"). Furthermore, reference is made to the notice of early redemption dated 25 April 2022 (the "Notice of Early Redemption"). Terms defined in the Terms and Conditions have the same meaning in this press release unless given a different meaning herein.
As previously communicated, the early redemption pursuant to the Notice of Early Redemption is conditional upon 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") being completed no later than by 11 May 2022. Due to the completion of the Acquisition taking longer than anticipated, the Acquisition will not be completed by 11 May 2022. For this reason, we hereby inform that the early redemption pursuant to the Notice of Early Redemption has been cancelled and that the Notice of Early Redemption is withdrawn with immediate effect.
The Acquisition is likely to be completed during the quarter ending 30 June 2022. The intention is still to redeem the Bonds in full upon completion of the Acquisition. A new notice of early redemption will be sent out to the Bondholders when it has been determined when the completion date for the Acquisition will be.
For further information, please contact:
Johan Westermarck, CEO
Mobile: +358 50 339 7972
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 06.30 EET on 11 May 2022.