Valoe Corporation Has Negative Equity
27 Mai 2024 - 6:50PM
Valoe Corporation Has Negative Equity
Valoe
Corporation Stock
Exchange Release 27 May 2024 at 19.50 Finnish time
The Board of Directors of Valoe Corporation has
discovered that the company has negative equity and has filed a
notice of the loss of share capital with the Finnish Trade
Register.
On 22 January 2024, Valoe entered into
restructuring proceedings. A draft restructuring programme must be
submitted to the court for approval by 14 June 2024. Valoe's Board
of Directors estimates that the restructuring programme should
significantly improve the equity in Valoe's balance sheet. If the
restructuring programme is not completed or approved, Valoe's Board
of Directors will take decisions to remedy the company's financial
position. In addition, the Board of Directors will convene a
General Meeting to consider the matter.
In Mikkeli, 27 May 2024
Valoe Corporation
BOARD OF DIRECTORS
For more information:CEO Iikka Savisalo, Valoe
CorporationTel. +358 405216082email: iikka.savisalo@valoe.com
Distribution:Nasdaq Helsinki OyMain
mediawww.valoe.com
Valoe Corporation designs, manufacturers, and
sells solar power application projects, especially for vehicles and
electronics. Valoe’s applications are based on the company’s own
back contact technology and IBC solar cells manufactured at the
Company’s cell factory in Lithuania. Valoe is headquartered in
Mikkeli, Finland, with production facilities in Juva, Finland, and
Vilnius, Lithuania.
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