The arbitral tribunal has confirmed Crayfish BidCo Oy’s redemption right over Caverion Corporation’s minority shares and trading in the Caverion shares will be suspended
Caverion Corporation Stock Exchange Release 2 May 2024 at 20:00 EET
The arbitral tribunal has confirmed Crayfish BidCo Oy’s redemption right over Caverion Corporation’s minority shares and trading in the Caverion shares will be 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 Caverion Corporation (“Caverion”) has today in its interim decision confirmed that Crayfish BidCo Oy (“Crayfish”) has the right to redeem the minority shares in Caverion and that Crayfish 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 interest accruing thereon.
On 5 March 2024, Caverion announced that the Board of Directors of Caverion has resolved to apply for the removal of Caverion’s shares from public trading and for the delisting of Caverion’s shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”). In the application, it is requested that the removal of Caverion’s shares from the public trading and the delisting of the shares from Nasdaq Helsinki would become effective as soon as possible after Crayfish has obtained title to all the issued and outstanding shares in Caverion by posting a security referred to in Chapter 18, Section 6 of the Finnish Limited Liability Companies Act, which is currently expected to occur during the second quarter of 2024.
As a result of the confirmation of Crayfish’s redemption right, Nasdaq Helsinki will suspend trading in the Caverion shares on 3 May 2024 before the opening of trading. The possible posting of the security and the delisting of the Caverion shares will be announced separately.
Distribution:
Nasdaq Helsinki, key media, www.caverion.com
ABOUT CAVERION
Caverion is a public limited liability company incorporated under the laws of Finland with its shares listed on the official list of Nasdaq Helsinki. Caverion is a Northern & Central European-based expert for smart and sustainable built environments, enabling performance and people’s well-being. Caverion offers expert guidance during the entire life cycle of buildings, infrastructure or industrial sites and processes: from design & build to projects, technical and industrial maintenance, facility management as well as advisory services. At the end of December 2022, there were almost 14,500 professionals serving customers at the service of Caverion Group in 10 countries.
