Valoe approves conversion of some convertibles to shares

By Mary-Katherine Stinson

Lexington, Ky., April 19 – Valoe Corp.’s board approved Winance’s request to convert a proportion of €100,000 of its convertible notes to company shares at a conversion price of €0.02 per share, according to a notice.

The conversion will be executed by transferring a total of 5 million treasury shares to Winance, according to the terms and conditions of the financing arrangement between Valoe and Winance.

After transfer, Valoe will have a total of 15,465,170 treasury shares.

Valoe is a Mikkeli, Finland-based clean energy company specializing in automated production technology for solar modules.

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