Resolutions of the Extraordinary General Meeting of Enedo Plc and signing of a Eur 5.0 million loan agreement

Enedo Plc         Stock Exchange Release         December 23, 2021 at 13:30

Resolutions of the Extraordinary General Meeting of Enedo Plc and signing of a Eur 5.0 million loan agreement

The Extraordinary General Meeting of Enedo Plc (the “Company”) was held today 23 December 2021 at 10 a.m. in Vantaa. The Extraordinary General Meeting decided according to the Board of Directors proposal to authorize the Board of Directors to decide on a directed share issue for Inission Ab for a maximum amount of 55.000.000 new shares at a subscription price of Eur 0,10 cent per share. The directed share issue can only take place if Inission Ab becomes liable for the loan (including interests and expenses) on the basis of the guarantee liability and the Enedo Oyj has not paid the recourse claim to Inission Ab despite its request.

The loan arrangement is also subject to the Financial Supervisory Authority granting Inission Ab a permanent exemption from the mandatory tender offer obligation pursuant to Chapter 11, Section 26 of the Securities Markets Act even if Inission Ab’s ownership would increase from the current 49,6% up to 72.1% as a result of Inission Ab converting its recourse receivables based on the above guarantee to new shares in the Company. Enedo Oyj has on 15 December 2021 informed that Inission Ab has received the above-mentioned permanent exemption.

In the Extraordinary General Meeting 99,93% of the votes were in favor of the Board of Directors’ proposal. All the votes were independent from Inission Ab.

The minutes of the Extraordinary General Meeting will be available at the Company’s website as of 6 January 2022 at the latest.

Enedo Oyj has signed the above mentioned Eur 5.0 million loan arrangement today. The loan will be used partly to pay back the Eur 2.0 million Bridge Loan raised from Inission Ab and partly to finance the Turnaround Plan which the Company has released earlier this year.

ENEDO PLC

Mikael FryklundCEO         For further information please contact Mr. Mikael Fryklund, CEO, tel. +358 40 500 6864.

DISTRIBUTION

Nasdaq Helsinki LtdPrincipal 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 2020 the group´s revenue was EUR 38,5 million. Enedo has 354 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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