Trustee appointed for the arbitration proceedings concerning the redemption of minority shares in Uponor
December 21 2023 - 8:40AM
Trustee appointed for the arbitration proceedings concerning the
redemption of minority shares in Uponor
Trustee Appointed for the
Arbitration Proceedings Concerning the Redemption of Minority
Shares in Uponor
Uponor Corporation, Stock Exchange Release, 21
December 2023, 4.40 p.m. EET
Georg Fischer AG (“GF”) has on
November 17, 2023, commenced redemption proceedings in respect of
Uponor Corporation’s (“Uponor”) minority shares by
initiating arbitration proceedings in accordance with
Chapter 18, Section 3 of the Finnish Companies Act
(624/2006, as amended, the “Finnish Companies
Act”) in order to obtain ownership of all the issued and
outstanding shares in Uponor.
Due to GF’s application for the above-mentioned
arbitration proceedings, the Redemption Committee of the Finland
Chamber of Commerce has petitioned the District Court of Helsinki
for the appointment of a trustee to supervise the interests of
Uponor’s minority shareholders during the redemption process. With
its decision given on December 20, 2023, the District Court of
Helsinki has appointed attorney-at-law Jasse Ritakallio to act as
such trustee.
GF’s notice, as referred to in Chapter 18,
Section 5, Subsection 2 of the Finnish Companies Act, is
attached to this release and has been published on the website of
Uponor. GF’s notice will also be published in the Official Gazette
of Finland (Fi: Virallinen lehti) without delay.
Additional Information:
Franciska Janzon, Senior Vice President,
Corporate Communications/IR, Uponorfranciska.janzon@uponor.com+358
(0) 20 129 2821
About Uponor
Uponor is a leading global provider of solutions
that efficiently and effectively move water through cities,
buildings, and homes. Uponor helps customers in residential and
commercial construction, municipalities, and utilities, be more
productive – and continuously find new ways to conserve, manage and
provide water responsibly, unlocking its potential to provide
comfort, health, and efficiency. Uponor’s safe drinking water,
energy-efficient radiant heating and cooling systems, and reliable
infrastructure solutions are sold in more than 80 countries. Uponor
employs approximately 3,600 professionals in 26 countries in Europe
and North America. In 2022, Uponor’s net sales totaled
approximately EUR 1.4 billion. Uponor is based in Finland and
listed on Nasdaq Helsinki. Uponor is part of the Georg Fischer
group, located in Schaffhausen (Switzerland).
Attachment: GF’s Notice
- Appointment of Trustee (GF - Notice) (English)
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