ROBIT PLC COMPANY RELEASE 12 MAY 2017 AT 1.30 P.M.
ROBIT PLC DECIDED TO APPLY LISTING OF COMPANY'S SHARES ON THE OFFICIAL LIST OF THE HELSINKI STOCK EXCHANGE - THE FINNISH FINANCIAL SUPERVISORY AUTHORITY HAS APPROVED ROBIT PLC'S FINNISH PROSPECTUS
Robit Plc's Board of Directors decided today to submit a listing application with Nasdaq Helsinki Ltd ("Helsinki Stock Exchange") to list the company's shares on the official list of the Helsinki Stock Exchange.
The listing of Robit Plc's shares is conditional on the Helsinki Stock Exchange approving the company's listing application. Trading in the company's shares on the official list is expected to start on 17 May 2017.
The transferring to the Nasdaq Helsinki main list is a part of the implementation of the company's global growth strategy. As disclosed earlier, the company has started to apply IFRS in the beginning of year 2017, and it published today the audited IFRS financial statements for the year 2016, including the unaudited comparison data for the year 2015.
Strong growth strategy intact - Transfer to main list as a step towards "Robit 3.0" phase.
When transferring to the Nasdaq Helsinki main list, the key elements of the company's growth strategy remain to be:
Robit sees the following areas as key elements in implementing its strategy:
The size and quality of Robit's Global Management Team has been carefully designed to be capable of driving the company's growth and profitability also now and in the future, in a significantly larger Robit. The Global Management Team has over 200 years of combined experience in international positions in the engineering and automation sectors.
The company analyses potential acquisition targets that would enable Robit's technology to be expanded, to strengthen the distribution network in existing or new markets and to add complementary and synergistic products to the product portfolio. Based on the analysis of acquisition targets, Robit has identified targets that meet the above mentioned criteria in different geographic markets. As a result of these studies, the company executed DTA's acquisition in Australia in June 2016 and the Bulroc acquisition in England in July 2016. In addition, in January and February of 2017, the company executed Halco acquisitions in the United States and the United Kingdom.
As part of its growth, Robit will continue to assess different investment alternatives such as investments in automated and robotized production technology, which is a key element of the company's operating model. In March 2017, the company decided on a major productional investment of approximately EUR 10 million through which the company will significantly increase its Top Hammer product line's rod and shank manufacturing capacity in South Korea.
Chairman of the Board of Directors, Harri Sjöholm comments:
"The past two years as a public company have proved that Robit has successfully implemented its strategy. Since the listing, Robit has continued to grow organically and through acquisitions allowing the company to take a step towards "Robit 3.0" phase as a Helsinki Stock Exchange official list company with the Global Management team stronger than ever. We are very proud of Robit's achievements and ready to continue implementing our strategy."
CEO Mika Virtanen comments:
"I am proud to have joined a strongly internationalized growth company Robit, which continues its growth story as a Helsinki Stock Exchange official list company. Transferring to the official list guarantees among others a wider interest from the investors and better international visibility. With our strong strategy and experienced management team, we eagerly accept the possibilities arising from the Robit 3.0 growth phase."
The Finnish Financial Supervisory Authority has approved Robit Plc's Finnish language prospectus on 12 May 2017. The Finnish language prospectus is available as of approximately 12 May 2017 on the company website at http://www.robit.fi/fi/sijoittajille/listanvaihto-2017/ as well as on the company's financial advisor's website at www.seb.fi, and as of approximately 15 May 2017 as a printed copy from the company's headquarters Vikkiniityntie 9, 33880 Lempäälä during the normal office hours, from financial advisor's Helsinki office, Eteläesplanadi 18, 00130 and from Nasdaq Helsinki, Fabianinkatu 14, 00100 Helsinki.
Skandinaviska Enskilda Banken AB (publ) Helsinki Branch acts as the company's financial advisor and Borenius Attorneys Ltd acts as the legal advisor in the listing. Skandinaviska Enskilda Banken AB (publ) Helsinki Branch acts as the company's certified advisor approved in accordance with the rules of First North until the listing on the official list.
ROBIT PLC
Board of Directors
Further information:
Robit Plc
| Harri Sjöholm, Chairman of the Board of Directors |
| +358 400 622 092 |
| harri.sjöholm@robit.fi |
Skandinaviska Enskilda Banken AB (publ) Helsinki Branch acts as the company's certified advisor
Tel. +358 9 616 28 101
Robit is a strongly internationalized growth company selling and servicing global customers in drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into three product and service range: Top Hammer and Down-the-Hole products as well as Digital Services. Robit has 21 own sales and service points as well as active sales networks in 115 countries. The manufacturing units are located in Finland, South Korea, Australia, UK and USA
Distribution
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com