Exel Composites Oyj

Exel Composites Plc announced a manager's transaction involving Paul Sohlberg, the CEO, on May 27, 2024. The transaction, which took place on May 24, 2024, involved the subscription of 40,000 shares at a unit price of 0.23 EUR, outside a trading venue. The company's LEI is 743700205JAMGM80QD88. For more information, contact Lilli Riikonen, Head of Investor Relations, or Mikko Rummukainen, CFO. Exel Composites is a global leader in composite profiles and tubes, leveraging advanced manufacturing technologies to serve various industries. The company is headquartered in Finland, employs over 600 professionals, and is listed on Nasdaq Helsinki.

Exel Composites Plc reported a manager's transaction on May 27, 2024. Kim Sjödahl, a senior manager at Exel Composites Oyj, subscribed to 100,000 shares at a unit price of 0.23 EUR on May 24, 2024, outside a trading venue. For further information, contact Lilli Riikonen, Head of Investor Relations, or Mikko Rummukainen, CFO. Exel Composites is a leading manufacturer of composite profiles and tubes, known for its innovative pultrusion and pullwinding technologies, serving various industries globally. The company is headquartered in Finland, employs over 600 professionals, and is listed on Nasdaq Helsinki.

Exel Composites Plc has announced a rights issue of approximately EUR 21.8 million, offering up to 94,831,552 new shares to existing shareholders at a subscription price of EUR 0.23 per share. The Finnish Financial Supervisory Authority has approved the related prospectus, available on the company's website from 24 May 2024. The subscription period for the offering will start on 24 May 2024 and end on 7 June 2024, with trading in subscription rights taking place between these dates, subject to approval from Nasdaq Helsinki. Danske Bank A/S and Nordea Bank Abp are acting as joint global coordinators of the offering, with Nordea Bank Abp also acting as the Issuer Agent.

Exel Composites Plc announced plans for a rights offering to accelerate its transformative strategy and strengthen its capital structure. The company is offering approximately EUR 21.8 million for subscription, based on pre-emptive subscription rights for existing shareholders. Up to 94,831,552 new shares will be offered at EUR 0.23 per share. The goal of the offering is to ensure sufficient working capital, accelerate necessary growth investments, optimize its factory network, and improve cash flow and profitability through debt repayments. The company has also agreed on refinancing its current bank loans with a new financing agreement of EUR 52.4 million, conditional on the completion of the offering with net proceeds of at least EUR 20 million.

Exel Composites Plc held an Extraordinary General Meeting (EGM) on 17 May 2024, during which it was decided that the company will conduct a rights offering of up to EUR 23 million. The company plans to issue new shares under the authorisation, with a maximum of 265 million shares to be issued. Shareholders will have a pre-emptive right to the new shares, but shares not subscribed by shareholders may be offered to others. The Board of Directors is authorised to decide all terms and conditions of the offering, which is valid until 31 December 2024. The EGM's minutes will be available on the company's website by 31 May 2024. Exel Composites is a leading manufacturer of composite profiles and tubes, serving various industries globally.

Exel Composites Plc is planning a rights offering to raise up to approximately EUR 23 million to accelerate its strategy implementation and strengthen its capital structure. The company has also agreed on a new financing agreement of EUR 52.4 million to refinance its existing bank loans, conditional on the successful completion of the offering. The company's new strategy, announced in October 2023, aims to grow organically within volume and customer-specific applications and improve profitability by increasing efficiency. The proceeds from the offering will be used to accelerate growth investments, optimise the factory network, finance working capital needs, and repay debt. The offering is subject to authorisation by the Extraordinary General Meeting and a resolution by the Board of Directors of Exel Composites. The subscription period of the offering is estimated to commence during the second quarter of 2024, depending on market conditions.