Alma Media Corporation Stock Exchange Release 31 August 2016 at 9:30 a.m.
THE SQUEEZE-OUT PROCEDURE RELATED TO THE SHARES HELD BY TALENTUM'S MINORITY SHAREHOLDERS HAS COME TO AN END
On 7.6.2016, the Arbitral Tribunal appointed by the Redemption Board of the Finland Chamber of Commerce rendered its award regarding the squeeze-out of Talentum Oyj's minority shareholders. Based on the award, the squeeze-out price was EUR 1.42 per share which equals the price offered by Alma Media for Talentum's shares in the public voluntary bid. As the arbitration award was not appealed by due date, it has gained legal force and the squeeze-out price based on the award is final.
Alma Media paid the redemption price with interest to Talentum’s minority shareholders on 8.7.2016 at the latest. Interest has been paid on the squeeze-out price since 10.12.2015. It is a statutory reference interest rate standing until 30.6.2016 at 0.5 % and as of 1.7.2016 at 0.0 %.
Alma Media completed the tender offer announced in September 2015 and, by a decision of the Arbitral Tribunal, acquired title to the Talentum's shares subject to the arbitration proceedings, in accordance with Chapter 18, Section 6 of the Limited Liability Companies Act. Talentum’s shares have been delisted from the official list of Nasdaq Helsinki Ltd on 21.4.2016 and, excluding the shares owned by Talentum itself, Alma Media with its subsidiaries were entered as the only shareholders in Talentum's shareholder register on 28.4.2016.
ALMA MEDIA CORPORATION
BOARD OF DIRECTORS
For more information, please contact:
Mikko Korttila, General Counsel, Tel. 010 665 2201
Distribution: Nasdaq Helsinki, Main Media, www.almamedia.fi
Alma Media in brief
Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitality, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 2,500 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2015 was EUR 291.5 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.