The arbitral tribunal has confirmed GF’s redemption right over the minority shares in Uponor and trading in Uponor’s shares has been suspended
Uponor Corporation, Stock Exchange Release, April 26, 2024, 4.15 p.m. EET
The arbitral tribunal has confirmed GF’s redemption right over the minority shares in Uponor and trading in Uponor’s shares has been suspended
The arbitral tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce in connection with the redemption proceedings concerning the minority shares in Uponor Corporation (“Uponor”) has in its interim award confirmed that Georg Fischer AG (“GF”) has the right to redeem the minority shares in Uponor and that GF 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.
Uponor announced on March 22, 2024, that Uponor has resolved to apply for the termination of public trading in its shares 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 GF having gained title to all the shares in Uponor in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act. Following the confirmation of the redemption right, Nasdaq Helsinki has suspended the trading in the Uponor shares today April 26, 2024, at 14.57 EET. The posting of the security and the delisting of the Uponor shares will be announced separately.
Additional Information:
Reetta Härkki, Senior Vice President and Chief Legal Officer, Uponor
[email protected]
+358 (0) 20 129 2835
About Uponor
Uponor, a leading global provider of sustainable and innovative flow solutions, was acquired in November 2023 and became a division of Georg Fischer. We help customers in residential and commercial construction be more productive and continuously find new ways to conserve, manage and provide water responsibly in buildings and homes, unlocking its potential to provide comfort, health and efficiency. Our safe drinking and waste water solutions as well as energy-efficient radiant heating and cooling solutions are sold in more than 80 countries. www.uponorgroup.com
