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Digia Plc is preparing additional funding for its

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Posted On: 04/28/2017 2:00:24 AM
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Posted By: News Desk 2018
Digia Plc is preparing additional funding for its growth strategy: the company has made an agreement on conditional bank financing and is planning a rights issue

Digia Plc Stock exchange release 28 April 2017 at 7.55

Digia Plc is preparing additional funding for its growth strategy: the company has made an agreement on conditional bank financing and is planning a rights issue

On the basis of the share issue authorisation granted by the Annual General Meeting of 16 March 2017, the Board of Directors of Digia Plc has decided to launch a rights issue for the company's present shareholders to finance its planned growth strategy. According to a preliminary estimate, the rights issue would amount to a maximum of EUR 12.5 million, and, market conditions permitting, it would be carried out during the second quarter of 2017.

Digia has also signed an agreement on new long-term bank financing with Danske Bank Plc. The bank financing will be used as part of the funding of mergers and acquisitions carried out to support Digia's growth strategy. The bank financing is conditional and requires that the share issue be organised, and its amount corresponds to the amount of gross assets to be collected through the planned share issue, nevertheless up to a maximum of EUR 12.5 million.

On 29 April 2016, Digia announced its growth strategy for the years 2016-2019. According to its growth strategy, the company aims to strengthen its position particularly in the growing digital services market, process digitisation and service business. The company aims to grow at a considerably faster pace than the IT market and seeks an average annual growth of 15 per cent during the strategy period 2016-2019. The company is seeking both organic and inorganic growth.

Earlier today Digia announced an acquisition in accordance with its growth strategy. The company acquires Omni Partners Oy and its wholly owned subsidiary Oy Nord Software Ltd. Omni Partners and Nord Software provide their customers with customised online and mobile communications services based on open source technologies and also with e-service solutions. Digia is also actively looking for other acquisition targets that would support its strategy.

With the planned share issue and new bank financing, Digia is aiming to strengthen its financial position considerably in order to have even greater resources for the implementation of its growth strategy.

For more information, please contact: Timo Levoranta, CEO, Digia Plc, tel. +358 (0)10 313 3000 (exchange)

Distribution: Nasdaq Helsinki Key media www.digia.com

Digia is a profitably growing IT service company that helps its customers harness digital opportunities. As a visionary partner, Digia develops and innovates solutions that support business operations together with its customers. We adapt our expertise to their specific industries to help them develop digital services, manage operations and utilise information. We employ over 900 experts in Finland and Sweden. We are expanding our international presence together with our customers. Digia's net sales in 2016 (continuing operations) totalled EUR 86.5 million. The company is listed on Nasdaq Helsinki (DIGIA). www.digia.com



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