Digitalist Group Plc: Tekes granted Digitalist Finland Ltd funding for research and development work

Digitalist Group Plc       Stock Exchange Release      14 November 2017 at 09:15

Tekes, the Finnish Funding Agency for Innovation ("Tekes"), has granted
Digitalist Group Plc's subsidiary Digitalist Finland Plc funding for research
and development work. The Tekes funding was for Digitalist Finland Plc's
project "Transformation, growth and internationalisation of business
operations" (Liiketoiminnan transformaatio, kasvu ja kansainvälistyminen)
("Project"), the purpose of which is to promote the company's growth and
internationalisation and increase internationalisation readiness of the
organisation. The duration of the Project is 1 July 2017 - 30 April 2019. 

The funding granted by Tekes is a loan, and its amount can be a maximum of 50
per cent of the Project's acceptable total costs. The maximum amount of loan
granted for the Project is EUR 1,950,000. The interest of the loan is three
percentage points below the base rate, yet no less than one per cent. The loan
period is 7 years, the first 3 years of which are amortisation-free. The loan
will be amortised in annual instalments. The loan is subject to, inter alia,
general Tekes funding terms and conditions. The loan involves interest subsidy
in the amount of approximately EUR 298,000, the amount being affected by, inter
alia, interest rate trends and the eventual loan period. 

Receiving the funding requires reporting in accordance with the schedule set by
Tekes and the funding terms. The funding will be primarily paid in instalments
and in arrears once the reporting has been accepted. The Project's progress
reports are scheduled for 30 April 2018 and 30 October 2018 and the final
report by 31 August 2019. Digitalist Finland Plc can draw down an advance of
EUR 585,000 as the first instalment of the loan after signature of a promissory
note. 

DIGITALIST GROUP PLC

For more information, please contact:

Digitalist Group Plc

CEO Ville Tolvanen, tel. [phone], [e-mail]

Hans Parvikoski, CFO, tel. [phone], [e-mail]

Distribution:

Nasdaq Helsinki Ltd

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