PKC Group Plc Press release 29 March 2017 6.30 p.m.
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Notice of the Change of Control event in PKC Group Plc Notes due 2018
Following the completion of MSSL Estonia WH OÜ’s (“MSSL”) public tender offer for all outstanding shares and stock options in PKC Group Plc (“PKC”), MSSL has obtained ownership of over 90 per cent in the shares of PKC. As a result, in accordance with the terms and conditions of PKC’s EUR 100,000,000, 4.25 per cent notes due 2018 (the “Notes”), a Change of Control event has occurred in respect of the Notes. The Notes are listed on Nasdaq Helsinki Ltd.
PKC will promptly notify the holders of the Notes of the Change of Control event in accordance with the terms and conditions of the Notes. As a result of the Change of Control event, the holders of the Notes may require prepayment of the nominal principal amount of and accrued interest on the Notes during a specified period of time as provided in the terms and conditions of the Notes. If Notes representing more than 75 per cent of the aggregate principal amount of the Notes are prepaid pursuant to the Change of Control event, PKC is entitled to prepay also the remaining outstanding Notes in accordance with the terms and conditions of the Notes.
PKC believes that its liquidity position will not be affected by the “Change of Control” event.
PKC Group Plc
Board of Directors
Matti Hyytiäinen
President & CEO
Further information:
Juha Torniainen, CFO, Tel. +358 40 570 8871
Issuer Agent, OP Corporate Bank, liabilitymanagement@op.fi
Distribution
Nasdaq Helsinki
Main media
www.pkcgroup.com
PKC Group is a global partner, designing, manufacturing and integrating electrical distribution systems, electronics and related architecture components for the commercial vehicle industry, rolling stock manufacturers and other selected segments. The Group has production facilities in Brazil, China, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the USA. The Group's revenue from continuing operations in 2016 totalled EUR 846 million. PKC Group Plc is listed on Nasdaq Helsinki.