The arbitral tribunal has confirmed GF’s redemption right over the minority shares in Uponor and trading in Uponor’s shares has been suspended
April 26 2024 - 8:15AM
The arbitral tribunal has confirmed GF’s redemption right over the
minority shares in Uponor and trading in Uponor’s shares has been
suspended
Uponor Corporation, Stock Exchange Release,
April 26, 2024, 4.15 p.m. EET
The arbitral tribunal has
confirmed GF’s redemption right over the minority shares in Uponor
and trading in Uponor’s shares has been
suspended
The arbitral tribunal appointed by the
Redemption Committee of the Finland Chamber of Commerce in
connection with the redemption proceedings concerning the minority
shares in Uponor Corporation (“Uponor”) has in its
interim award confirmed that Georg Fischer AG
(“GF”) has the right to redeem the minority shares
in Uponor and that GF has the right to obtain title to the minority
shares by posting a security approved by the arbitral tribunal for
the payment of the redemption price and the possible interest
accruing thereon.
Uponor announced on March 22, 2024, that Uponor
has resolved to apply for the termination of public trading in its
shares and for the delisting of its shares from the Official List
of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) so that
the delisting would occur as soon as possible upon GF having gained
title to all the shares in Uponor in the pending redemption
proceedings under Chapter 18 of the Finnish Companies Act.
Following the confirmation of the redemption right, Nasdaq Helsinki
has suspended the trading in the Uponor shares today April 26,
2024, at 14.57 EET. The posting of the security and the delisting
of the Uponor shares will be announced separately.
Additional Information:
Reetta Härkki, Senior Vice President and Chief
Legal Officer, Uponorreetta.harkki@uponor.com+358 (0) 20 129
2835
About Uponor
Uponor, a leading global provider of sustainable
and innovative flow solutions, was acquired in November 2023 and
became a division of Georg Fischer. We help customers in
residential and commercial construction be more productive and
continuously find new ways to conserve, manage and provide water
responsibly in buildings and homes, unlocking its potential to
provide comfort, health and efficiency. Our safe drinking and waste
water solutions as well as energy-efficient radiant heating and
cooling solutions are sold in more than 80 countries.
www.uponorgroup.com
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