Trustee appointed for the arbitration proceedings concerning the redemption of the minority shares in Okmetic Oyj

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OKMETIC OYJ STOCK EXCHANGE RELEASE 13 JULY 2016 AT 9.30 A.M. NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA ...

OKMETIC OYJ STOCK EXCHANGE RELEASE 13 JULY 2016 AT 9.30 A.M.

NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER OR SUCH RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW OR REQUIRE OFFER DOCUMENTS, REGISTRATION OR OTHER MEASURES IN ADDITION TO THOSE REQUIRED UNDER FINNISH LAW.

TRUSTEE APPOINTED FOR THE ARBITRATION PROCEEDINGS CONCERNING THE REDEMPTION OF THE MINORITY SHARES IN OKMETIC OYJ

As previously announced, the intention of NSIG Finland S.à r.l. ("NSIG Finland"), a wholly-owned indirect subsidiary of National Silicon Industry Group ("NSIG"), is to redeem the minority shares in Okmetic ("Okmetic") by way of arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Limited Liability Companies Act in order to acquire all of the remaining shares in Okmetic.

Based on an application filed by NSIG Finland for the initiation of the aforementioned arbitration proceedings, the Redemption Committee of the Finland Chamber of Commerce has petitioned the District Court of Vantaa for the appointment of a trustee, in accordance with Chapter 18, Section 5 of the Finnish Limited Liability Companies Act, to look after the interests of Okmetic's minority shareholders in the arbitration proceedings. In its decision, the District Court of Vantaa appointed M.Sc. (Econ.) Camilla Viherlaakso to act as the trustee.

OKMETIC OYJ

Kai Seikku

President

For further information, please contact:

Kai Seikku, President

Tel. +358 9 5028 0232, e-mail: kai.seikku@okmetic.com

Juha Jaatinen, Senior Vice President, Finance, IT and Communications

tel. +358 5028 0286, e-mail: juha.jaatinen@okmetic.com

Okmetic supplies tailored, high value-added silicon wafers to be used in the manufacture of sensors as well as discrete semiconductors and analog circuits. Okmetic's strategic objective is profitable growth driven by a product portfolio designed to meet customers' current and future technology needs. The core of the company's operations is being genuinely close to the customers and understanding their needs and processes.

Okmetic's global sales network, extensive portfolio of high value-added products, in-depth knowledge of crystal growing, long-term product development projects, as well as efficient and flexible production create prerequisites for achieving the strategic targets. The company's headquarters is located in Finland, where the majority of the company's silicon wafers is manufactured. In addition to in-house manufacture, Okmetic has contract manufacturing in Japan and China. Okmetic's shares are listed on Nasdaq Helsinki Ltd under the code OKM1V. For more information on the company, please visit our website at www.okmetic.com.

NSIG is a limited liability company organized under the PRC laws. The registered office of NSIG is in Shanghai, China.

Established in 2015, NSIG is a China-based holding group that is engaged in the investment and development of semiconductor materials and equipment industry with a registered capital of RMB 2 billion (approximately EUR 272 million). NSIG's mission is to establish a major industrial player in the global semiconductor sector (especially silicon and its ecosystems) through both PRC domestic investments and outbound mergers and acquisitions.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Okmetic Oyj via Globenewswire

HUG#2028271

Source(s) : Okmetic Oyj

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