Ilmarinen Has Withdrawn Its Bankruptcy Petition against Valoe. Valoe's Restructuring Proceedings Continue.

    Ilmarinen Has Withdrawn Its Bankruptcy Petition against Valoe. Valoe's Restructuring Proceedings Continue.

Valoe Corporation         Inside Information         23 July 2024 at 17.35 Finnish time

        

Valoe Corporation (“Company”) has paid its debt to Ilmarinen Mutual Pension Insurance Company. Ilmarinen has today withdrawn its bankruptcy petition against Valoe which the Company disclosed on 17 July 2024.

Valoe’s restructuring proceedings continue. The administrator, Mr Pekka Jaatinen, Attorney, filed a proposal for the restructuring programme for the Company with the North Savo District Court on 24 June 2024. The deadline for submitting claims on the amounts and basis of restructuring debts of parties to the restructuring proceedings, and statements concerning the draft restructuring programme has expired. Next, the administrator will prepare a report to the district court on the claims and statements received and, if necessary, propose changes to the draft restructuring programme.

In Mikkeli 23 July 2024

Valoe Corporation

Board of Directors

For more information:
Iikka Savisalo, President and CEO, Valoe Corporation
Tel. [phone]
email: [e-mail]

Distribution:
NASDAQ OMX, Helsinki
Main media
www.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.