EUR 5,000,000 increase of Innofactor Software Ltd’s equity

09.08.2011 00:00

Innofactor Plc stock exchange release on August 9, 2011 at 8:40

At its meeting on August 8, 2011, the Board of Directors of Innofactor Plc decided to increase the equity of Innofactor Software Ltd, a subsidiary of the group, by EUR 5,000,000.

The equity was increased by having Innofactor Software Ltd offer new shares to Innofactor Plc for subscription at a total subscription price of EUR 5,000,000, of which EUR 4,997,600 was recorded in Innofactor Software Ltd’s fund for invested unrestricted equity and EUR 2,400 in the share capital. The subscription price was fully paid through an offset of EUR 5,000,000 of Innofactor Plc’s receivables from Innofactor Software Ltd.

This equity increase was related to the arrangement reported earlier where the Innofactor group’s business operations were taken on by Innofactor Software Ltd. The amount of Innofactor Software Ltd’s equity will be significant particularly for certain public-sector procurement contracts, where it may be considered as one of the grounds for awarding a contract.

INNOFACTOR PLC
Board of Directors

Further information:
Sami Ensio
CEO
Tel. +358 50 584 2029

Distribution:
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