Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Purmo Group Plc
Purmo Group Plc | Stock Exchange Release | October 30, 2024 at 14:45:00 EET
Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Purmo Group Plc
As previously announced, Project Grand Bidco (UK) Limited (“Project Grand Bidco”) has, by submitting an application to the Redemption Board of the Finland Chamber of Commerce dated August 23, 2024, commenced redemption proceedings in respect of Purmo Group Plc’s (“Purmo Group”) minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Purmo Group. Project Grand Bidco served its application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 5 of the Finnish Companies Act on September 20, 2024.
Project Grand Bidco has today been informed that the Redemption Board of the Finland Chamber of Commerce has appointed an arbitral tribunal consisting of three members for the arbitration proceedings concerning the redemption of the minority shares in Purmo Group. The arbitral tribunal consists of Professor of Practice, Doctor of Laws Timo Kaisanlahti (chair), Independent Arbitrator Marko Wainio and Attorney-at-law Niklas Lindström.
Further information:
Purmo Group
Katariina Kataja
Head of Investor Relations
Tel. +358 40 527 1427
[email protected]
Distribution:
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com
About Purmo Group:
Purmo Group is at the centre of the global sustainability journey by offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. We provide complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 2,760 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to our over 100,000 customers in more than 100 countries. Purmo Group’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.