Enersense and Rauma Marine Constructions have signed a new agreement related to the Tallink MyStar -project Enersense International Plc Press Release 8 June 2021 at 02:30 pm Enersense Works Oy, a subsidiary of Enersense International Plc, and Rauma Marine Constructions (RMC) have signed a new agreement for the construction project of Tallink MyStar Vessel and its outfitting scope in technical areas. MyStar, which is already being built, is an environmentally friendly vessel that uses liquified natural gas (LNG). The signed agreement in the MyStar -project is strategically important for Enersense Works Oy, as providing demanding equipment at LNG-construction sites support the company’s vision of being a significant implementor of a zero-emission society. ”We are pleased that our partnership with RMC is strengthened and the customer trusts the expertise of our committed personnel”, says Jaakko Leivo, EVP Smart Industry. ”Our role in Tallink’s MyStar -project is versatile and extensive. We continue to significantly invest in the marine industry, and the new signed agreement supports our strategy of implementing comprehensive work packages and zero-emission solutions.” On 12th of June 2020, Enersense International Plc announced an agreement related to Tallink’s MyStar -project when its subsidiary Enersense Works Oy, specialized in high-quality steel works, and Rauma Marine Constructions, a domestically owned ship building company, agreed on a piping and steel works project.
Enersense International Plc has applied for its shares to be listed on the official list of Nasdaq Helsinki Ltd ENERSENSE INTERNATIONAL PLC — STOCK EXCHANGE RELEASE — 7 June 2021 at 8.15 EET Enersense International Plc has applied for its shares to be listed on the official list of Nasdaq Helsinki Ltd Enersense International Plc (”Enersense” or the ”Company”) has today filed a listing application with Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) for listing the Company’s shares on the official list of Nasdaq Helsinki (the “Listing”). The Listing is conditional on Nasdaq Helsinki approving the Company’s listing application and the Finnish Financial Supervisory Authority approving the prospectus prepared in connection with the Listing. Trading in the shares is expected to commence on the official list of Nasdaq Helsinki on or about 14 June 2021. The objective of the Listing is to promote Enersense’s visibility and to increase liquidity and to get a larger shareholder base. The Company estimates that the transfer to the official list would increase the Company’s possibilities to carry out its growth strategy and invest in its business in order to remain as a front-line executor of sustainable energy solutions. “After the listing on First North in 2018 we have successfully increased our activities. The transfer to the official list of Nasdaq Helsinki is a natural step in the development of our company and will bring more visibility and support getting a larger ownership base”, comments the CEO of Enersense Jussi Holopainen. At the same time, Enersense has requested its shares to be removed from the First North Growth Market Finland marketplace maintained by Nasdaq Helsinki. The trading code of the Company’s shares ESENSE and the ISIN code FI4000301585 will remain unchanged. As of this day, Enersense complies with the regulations on the disclosure obligations of companies listed on a regulated market. In connection with the contemplated Listing, the Company has updated its disclosure policy. The Company’s updated disclosure policy is available on the Company’s website at https://enersense.com/en/investors/. Roschier, Attorneys Ltd acts as the Company’s legal advisor in the Listing.
Enersense has signed a significant agreement on the modernisation of Tsirguliina-Viru power line Enersense International Plc Insider information, 2 June 2021 at 1.30 pm Empower AS, Estonian subsidiary of Enersense International Plc, a provider of zero-emission energy solutions, has signed an agreement with an Estonian power grid company AS Elering on the modernisation of the 330 kV power line between Tsirguliina and Viru substation. Empower AS and Leonhard Weiss Oü, a provider of integrated grid planning, construction, and maintenance, will be jointly responsible for the implementation of the project. The total value of the agreement is EUR 55.9 million, of which Enersense’s share is approximately EUR 28 million. The project consists of preparations and planning, the dismantling of the existing power line, and the construction of a new 200-kilometre power line. The project is expected to be completed by October 2025. ”Enersense has extensive experience in the construction of power lines. It is great that our expertise is valued, and that we can implement demanding projects and act as a responsible partner for our customers. The signed agreement is significant for us, and it strengthens our position on the Baltic markets”, says Jussi Holopainen, CEO of Enersense. The modernisation of the power line between Tsirguliina and Viru substation is a key part of a larger undertaking, in which Baltic electricity networks will be connected to networks in Continental Europe.
Enersense agrees to sell the entire share capital of Värväämö Oy to Citywork Enersense International Plc Insider information, 6 May 2021 at 9.00 am With a deed of sale signed today, a provider of zero-emission energy solutions, Enersense International Plc has agreed to sell the entire share capital of its subsidiary Värväämö Oy, which offers personnel services for the construction industry, to Citywork Oy. Founded in 2006, Citywork is a member of the Celebris Group and provides personnel services in the whole of Finland. Upon completion of the transaction, Citywork is planning to make Värväämö part of its support and personnel services business for the construction industry. The acquisition increases the resources of this business significantly and it will start using the Värväämö brand. The completion of the transaction is subject to the fulfilment of the terms and conditions of the buyer’s funder, agreed in the deed of sale. The transaction is expected to be completed by the end of June 2021. ”In accordance with our new strategy, we will focus on creating and developing zero-emission energy solutions. Subsequently, we could no longer see how Värväämö and its personnel services for the construction industry could support our core business. We believe that the new owner will enable Värväämö to develop into an even stronger player in its field,” says Enersense’s CEO Jussi Holopainen. The minimum price for all the shares will be EUR 2,000,000 and the maximum EUR 3,000,000, and the price consists of a basic purchase price of EUR 500,000, adjusted in accordance with the terms of the deed of sale, and an additional purchase price linked to the EBITDA of Citywork’s support and personnel services business for the construction industry in 2022 and 2023. The achievement of the maximum purchase price will also be affected by the turnover of Citywork’s construction support and personnel services business and Värväämö in the financial year 2021. The purchase price will be paid in cash. When completed, the transaction will have no effect on Enersense’s financial guidance or medium-term financial targets. Värväämö Oy has around 200 employees. Värväämö specialises in employment services for the construction industry. In 2020, its turnover was EUR 13.8 million (EUR 16.5 million in 2019). In 2020, the company’s EBITDA was approximately EUR -0.5 million (EUR 0.05 million in 2019) and its balance sheet total amounted to about EUR 2.2 million (EUR 2.1 million in 2019).Enersense will not completely divest its personnel leasing services as the company will retain both know-how and an ability to scale resources internally. Upon completion of the transaction, the Staff Leasing business unit will be closed down and, going forward, the Enersense Group will have four business areas: Smart Industry, Power, Connectivity and International Operations. The resourcing business of the Smart Industry business unit will remain unchanged. ”The transaction will not affect Enersense’s ability to scale resources internally, which is very important to us,” says Holopainen.
Enersense concludes negotiations on a new financing package Enersense International Plc Company bulletin, 4 May 2021 at 10.30 am A provider of zero-emission energy solutions, Enersense International Plc has concluded the negotiations on the financing its operations. The company’s new financing package consists of two senior loans and several bank guarantee and invoice financing facilities. The financing is used for developing operations and managing working capital (“New Financing”). The senior loans and bank guarantee facilities made available as a part of the New Financing will be at Enersense’s disposal, provided certain customary conditions precedents for utilisation have been fulfilled. As part of the New Financing, the company will replace the existing EUR 12.7 million short-term financing facilities with two senior loans, totalling EUR 12 million. Each senior loan amounts to EUR 6 million and will mature in 2026. In addition, Enersense replaces a part of its previous bank guarantee facilities with the new bank guarantee facilities negotiated as a part of the New Financing. Enersense has bank guarantee facilities totalling EUR 36.9 million. The total amount of the new bank guarantee facilities negotiated as part of the New Financing is EUR 20 million. The company also has invoice financing facilities totalling EUR 41.5 million. The new facilities account for EUR 27 million of the total. “We are pleased to have new partners to support the development of our business. The increase in financing facilities used to support the business operations indicates that we have succeeded excellently in increasing our sales,” says Jussi Holopainen, CEO of Enersense.
