Rovio Entertainment Corp.: The arbitral tribunal has confirmed Sega Europe Limited’s redemption right over the minority shares in Rovio Entertainment Corporation, and trading in the Rovio shares has been suspended
Rovio Entertainment Corporation Stock Exchange Release January 12, 2024 at 12:30 p.m. EET
The arbitral tribunal has confirmed Sega Europe Limited’s redemption right over the minority shares in Rovio Entertainment Corporation, and trading in the Rovio shares has been suspended
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce in connection with the redemption proceedings concerning the minority shares in Rovio Entertainment Corporation (“Rovio”) has in its interim decision confirmed that Sega Europe Limited (“Sega”) has the right to redeem the minority shares in Rovio and that Sega 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.
Rovio announced on December 8, 2023 that the Board of Directors of Rovio has resolved to apply for the termination of public trading in the shares of Rovio and for the delisting of its shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) so that the delisting would become effective as soon as possible upon Sega having gained title to all the shares in Rovio in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act. Following the confirmation of the redemption right, Nasdaq Helsinki suspended trading in the Rovio shares on January 12, 2024 before the opening of trading. The possible posting of the security and the delisting of the Rovio shares will be announced separately.
ROVIO ENTERTAINMENT CORPORATION
More information:
Alexandre Pelletier-Normand
+358 40 730 3442
Distribution:
Nasdaq Helsinki Ltd
Key media
https://investors.rovio.com/en
About Rovio:
Rovio Entertainment Corporation is a global mobile-first games company that creates, develops and publishes mobile games, which have been downloaded over 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment, animations and consumer products in brand licensing. Rovio has produced The Angry Birds Movie (2016), and its sequel, The Angry Birds Movie 2 was released in 2019. The company offers multiple mobile games and has seven game studios – one in Espoo (Finland), Stockholm (Sweden), Copenhagen (Denmark), Barcelona (Spain), Montreal and Toronto (Canada), as well as a subsidiary in Izmir (Turkey) called Ruby Games. Most of the employees are based in Finland where Rovio is headquartered. The company’s shares are listed on the main list of NASDAQ Helsinki stock exchange with the trading code ROVIO. Sega Europe Limited has acquired more than 90 percent of Rovio’s issued and outstanding shares and will delist the company from NASDAQ Helsinki stock exchange as soon as permitted under applicable laws.
