OKMETIC OYJ STOCK EXCHANGE RELEASE4 NOVEMBER 2016 AT 1.30 P.M. THE ARBITRAL TRIBUNAL HAS CONFIRMED NSIG FINLAND S.À R.L.'S REDEMPTION RIGHT REGARDING THE SHARES IN OKMETIC OYJ AND PUBLIC TRADING IN THE COMPANY'S SHARES HAS BEEN TERMINATED The ...
OKMETIC OYJ STOCK EXCHANGE RELEASE 4 NOVEMBER 2016 AT 1.30 P.M.
THE ARBITRAL TRIBUNAL HAS CONFIRMED NSIG FINLAND S.À R.L.'S REDEMPTION RIGHT REGARDING THE SHARES IN OKMETIC OYJ AND PUBLIC TRADING IN THE COMPANY'S SHARES HAS BEEN TERMINATED
The arbitral tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has today confirmed that NSIG Finland S.à r.l. ("NSIG Finland") has the right to redeem the minority shares in Okmetic Oyj ("Okmetic") and that NSIG Finland has the right to obtain title to the minority shares by placing a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.
As a result of the confirmation of the redemption right, Nasdaq Helsinki Ltd has terminated public trading in Okmetic's shares today at 12.57 p.m. The placing of the security, the transfer of title to NSIG Finland and the subsequent delisting of Okmetic shares will be announced in due course through a separate stock exchange release.
For further information, please contact:
Kai Seikku, President
Tel. +358 9 5028 0232, e-mail: firstname.lastname@example.org
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.
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
Source(s) : Okmetic Oyj
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