Purmo Group will hold a Capital Markets Day on December 2, 2021 at 9:00 a.m. (EET)

Virala Acquisition Company Plc, Press release, November 29, 2021 at 9:00 a.m. ET

As previously communicated, Virala Acquisition Company Plc (“VCA“) and Purmo Group SA (“Purmo Group”) have agreed to merge to form a publicly traded company aiming to become the global leader in sustainable indoor climate comfort solutions.

Purmo Group will organize a Capital Markets Day for investors, analysts and the media on Thursday, December 2, 2021 at 9 a.m. EET. The event will take place at Miltton House, Sörnäisten Rantatie 15, FI-00530 Helsinki, Finland.

During the event, the management team of Purmo Group plans to present the January-September 2021 interim financial information and an update on the future of the company’s business, including its strategy and objectives, its Radiators and Indoor Air Conditioning Systems (ICS) divisions, and its outlook. Please find below the detailed program of the event.

Due to current circumstances and restrictions related to the COVID-19 pandemic, Purmo Group recommends that attendees follow Capital Markets Day online via webcast.

Participants wishing to attend the event at Miltton House on Sörnäisten Rantatie 15, are requested to pre-register for the event via this link: https://www.lyyti.fi/reg/PurmoCMD.

Online participants will be able to access the event without registration via a webcast at https://worksup.com/vacpurmoevent.

The event, including Q&A sessions, will be held in English. Presentation materials and a recording of the webcast will be available after the event on the VAC website at https://www.virala.fi/en/de-spac/

Program of the Purmo Group Capital Markets Day 2021:

9.00 – Presentation

9.05 – Interim financial information and update of the merger process

  • Highlights of the opening and merger process, CEO, John Peter Leesi
  • January-September 2021 interim financial information, objectives and outlook, chief financial officer, Erik Hedin

9:45 – 9:55 Q&A and short break

9:55 a.m. – Capital Markets Day

  • Purmo Group introduction and strategy in brief, John Peter Leesi
  • Growth Strategy, Michael Conlon, SVP, ICS Division
  • M&A and Operational Excellence, Erik Hedin
  • People and Culture, CPO, Linda Currie
  • market overview, John Peter Leesi

11:50-12:00 – Q&A and short break

12:00 p.m. – Presentation of the division

  • Radiator Division, Tomasz Tarabura, SVP, Radiator Division
  • ICS Division, Michael Conlon

12:45 p.m. – Q&A and closing

Further information :

Virala acquisition company:Johannes Schulman, CEO of ACC: Tel. +358 50 321 7447

Purmo Group:John Peter Leesi, CEO of Purmo Group: Phone. +44 7444 152 123
Josefina Tallqvist, Investor Relations (acting), Purmo Group: Phone. +358 40 745 5276

Distribution:

Nasdaq Helsinki Ltd, Major Media, Company Website

Purmo Group is a leader in sustainable solutions for indoor climate comfort in Europe. We provide complete heating and cooling solutions for residential and non-residential buildings, including radiators, heated towel rails, underfloor heating, convectors, valves and controls. Our mission is to be the world leader in sustainable indoor climate comfort solutions. Our 3,500 employees operate at 46 locations in 21 countries, manufacturing and distributing top quality products and solutions to customers in more than 100 countries around the world. www.purmogroup.com

Virala Acquisition Company Plc (VAC) is a Finnish acquisition company, tailored to the Finnish financial markets. VAC’s objective is to identify and execute one or more acquisitions that aim to create significant value for both shareholders and the target company, as well as complement the Finnish capital markets. ACC is looking for one or more companies and/or businesses whose estimated enterprise value ranges from approximately 50 euros at 500 million euros. The founding shareholder of VAC is the industrial company Virala which has committed to act as the anchor owner and long-term developer of the companies to be acquired. www.virala.fi/en

Important Notice

The distribution of this press release may be restricted by law, and persons in possession of any document or other information mentioned herein should inform themselves about and observe any such restrictions. The information contained herein is not intended for publication or distribution, in whole or in part, directly or indirectly, in or in United States, Australia, Canada, hong kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such publication or distribution would violate applicable laws or rules or would require additional documentation to be completed or registered or would require any action to be taken in addition to the requirements of Finnish law. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdiction. This release is not intended for, and is not intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where any such distribution, publication, availability or use would be contrary to law or regulation or would require registration or licensing in such jurisdiction.

This press release is not an offer of merger consideration shares in United States and it is not intended for distribution in or in United States or in any other jurisdiction in which such distribution would be prohibited by applicable law. The merger consideration shares have not been and will not be registered we Securities Act of 1933 (the “Securities Law“), and may not be offered, sold or delivered in or in United States, except pursuant to an applicable exemption from the Securities Act or in connection with a transaction not subject to this exemption.

This press release is for informational purposes only and does not constitute an offer or invitation by or on behalf of ACC, Rettig Group Where Purmo Group, or any other person, to purchase securities.

This press release does not constitute a notice of EGM or a merger prospectus. Any decision relating to the planned merger-absorption of Purmo Group in VAC should be made solely on the basis of the information to be contained in the actual notices to the EGM of VAC and in the merger prospectus relating to the merger and on an independent analysis of the information contained therein. You should consult the merger prospectus for more complete information on VAC, Purmo Group, their respective subsidiaries, their respective titles and the merger. No part of this announcement, nor the fact of its distribution, should form the basis of, or be relied upon in connection with, any contract or commitment or investment decision. The information in this release has not been independently verified, does not purport to be complete or complete, and may be subject to change. No representation, warranty or covenant, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information or opinions contained in this document. Neither VAC, Rettig Group Where Purmo Group, nor any of their respective affiliates, advisors or representatives or any other person, shall be liable in any way (whether negligent or otherwise) for any loss resulting from any use of this release or its contents or otherwise resulting of this press release. Each person should rely on their own review and analysis of VAC, Purmo Group, their respective titles and the merger, including the merits and risks involved. The transaction may have tax consequences for Purmo Group shareholders, who should seek their own tax advice.

This release includes “forward-looking statements” that are based on current plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations and assumptions which, although they seem reasonable at the present time, may prove to be incorrect. Shareholders should not rely on these forward-looking statements. Many factors could cause the actual results of operations or financial condition of the combined company to differ materially from those expressed or implied by the forward-looking statements. Neither VAC nor Purmo Group, nor any of their respective affiliates, advisors or representatives or any other person undertakes to review or confirm or publicly release any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this press release. Further, there can be no certainty that the merger will be completed in the manner and within the timeframe described in this release, or at all.