Arbitral Tribunal Has Confirmed DNV’s Redemption Right over the Minority Shares in Nixu, DNV Has Gained Title to the Minority Shares in Nixu and the Nixu Shares will be delisted from Nasdaq Helsinki
Nixu Corporation, Stock Exchange Release, December 1, 2023, 7.30 p.m. EET
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce (the “Arbitral Tribunal”) in connection with the redemption proceedings concerning the minority shares in Nixu Corporation (“Nixu”) has in its interim award confirmed that DNV AS (“DNV”) has the right to redeem the minority shares in Nixu and that DNV 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. DNV has today posted a security approved by the Arbitral Tribunal and DNV has thus gained title to all the shares in Nixu in accordance with Chapter 18, Section 6 of the Finnish Companies Act (624/2006, as amended, the “Finnish Companies Act”). After the security has been posted and the title to the minority shares transferred, the minority shareholders of Nixu being parties to the redemption proceedings are entitled to receive only the redemption price and the possible interest payable thereon.
Nixu announced on October 9, 2023, that the Board of Directors of Nixu has resolved to apply for the termination of public trading in the shares of Nixu 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 DNV having gained title to all the shares in Nixu in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act. Following the confirmation of the redemption right, Nasdaq Helsinki has suspended trading in the Nixu shares today at 3.40 p.m. EET.
Upon Nixu’s application, Nasdaq Helsinki has on October 23, 2023, decided that the shares in Nixu will be delisted from the Official List of Nasdaq Helsinki after DNV has gained title to all the shares in Nixu in the redemption proceedings in accordance with the Finnish Companies Act. The shares of Nixu will be listed for the last time today in accordance with a separate release published by Nasdaq Helsinki.
After the delisting has taken place, Nixu is not subject to the periodic reporting obligation set out in the Finnish Securities Market Act and will thereby not publish a periodic financial reporting from the ongoing or future reporting periods.
Additional Information:
Anniina Hautakoski, Nixu
+358 50 598 8304
About Nixu
Nixu is a cyber security services company that has been shaping the future through cyber security for over three decades. The Company makes cyberspace a secure place and helps clients ensure business resilience with peace of mind. Nixu has Nordic roots, and employs around 400 of the best professionals in Finland, Sweden, the Netherlands, Denmark, and Romania. Nixu’s experts are safeguarding the most demanding environments of some of the largest organizations in the world across all industries. Nixu’s shares are listed on Nasdaq Helsinki.
