Rovio Entertainment Corp.: Trustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Rovio Entertainment Corporation
Rovio Entertainment Corporation Stock Exchange Release September 26, 2023, at 6.00 p.m. EEST
Trustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Rovio Entertainment Corporation
Sega Europe Limited (“Sega”) has on September 1, 2023 commenced redemption proceedings in respect of Rovio Entertainment Corporation’s (“Rovio”) 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 Rovio.
Due to Sega’s application for the above-mentioned arbitration proceedings, the Redemption Board of the Finland Chamber of Commerce has petitioned the District Court of Länsi-Uusimaa for the appointment of a trustee to supervise the interests of Rovio’s minority shareholders during the redemption process. With its decision given on September 22, 2023, the District Court of Länsi-Uusimaa has appointed Professor emeritus Matti J. Sillanpää to act as such trustee.
Sega’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 Rovio. It will also be published in the National Official Journal of Finland (Virallinen lehti in the Finnish language) without delay.
ROVIO ENTERTAINMENT CORPORATION
More information:
Alexandre Pelletier-Normand
CEO
+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 eight game studios – one in Espoo (Finland), one in Stockholm (Sweden), one in Copenhagen (Denmark), one in Barcelona (Spain), two in Montreal and one in Toronto (Canada). The studios also include a subsidiary in Izmir (Turkey) called Ruby Games, which was acquired in 2021. 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.
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