NEO INDUSTRIAL PLC: NESTOR CABLES LTD SIGNED A NEW LONG-TERM FINANCING AGREEMENT
NEO INDUSTRIAL PLC STOCK EXCHANGE RELEASE 3 July 2015 at 2 pm
NEO INDUSTRIAL PLC: NESTOR CABLES LTD SIGNED A NEW LONG-TERM FINANCING AGREEMENT
Neo Industrial Plc's associated company Nestor Cables Ltd's financial negotiations have been concluded and a new long-term financing agreement is signed. The financing agreement is for three years.
Financial terms of the agreement includes financial covenants, as well as for some financiers the right to appoint if they so choose, chairman of the Nestor Cables' Board of Directors or a Board member and observer member. Nestor Cables doesn’t pay dividends during the funding agreement term.
Nestor Cables develops, manufactures and sells optical and copper telecommunication and industrial cables and fiber optic equipment. Nestor Cables’ turnover for period 1.1.2014 - 31.12.2014 was EUR 30.4 million and operating profit was positive.
Neo Industrial Plc's holding in Nestor Cables Ltd is 22.94% and the value of shares in Neo Industrial Plc's balance sheet in the 2014 financial statements is zero.
Hyvinkää, 3 July 2015
Neo Industrial Plc
The Board of Directors
FURTHER INFORMATION
Jari Salo, Managing Director, tel. +358 207 209 196
www.neoindustrial.fi
Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the main list of NASDAQ Helsinki Stock Exchange. Neo Industrial's business segment is Cable Industry.
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