According to the decision of the arbitral tribunal, Alma Media Corporation has the right to redeem the shares in Talentum Oyj
Alma Media Corporation Stock Exchange Release 22 March 2016 at 3.15 pm (EET)
ACCORDING TO THE DECISION OF THE ARBITRAL TRIBUNAL, ALMA MEDIA CORPORATION HAS THE RIGHT TO REDEEM THE SHARES IN TALENTUM OYJ AND ALMA MEDIA CORPORATION HAS ACQUIRED TITLE TO ALL SHARES IN TALENTUM OYJ
The arbitral tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has in its decision today 22 March 2016 confirmed that Alma Media Corporation (“Alma Media”) has the right to redeem the minority shares in Talentum Oyj (“Talentum”), and the right to obtain the title to the shares in question by posting a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.
Alma Media has today posted a security approved by the arbitral tribunal in connection with the redemption of the minority shares in Talentum and thus acquired title to all the outstanding shares in Talentum in accordance with chapter 18, section 6 of the Companies Act. As a consequence of the posting of the security, the minority shareholders of Talentum are entitled only to the redemption price and to the interest accruing thereon. The arbitral tribunal will later render its final arbitral award, in which the redemption price will be determined.
Nasdaq Helsinki Ltd (“Helsinki Stock Exchange”) halted the trading in Talentum’s shares on 22 March 2016 2.53 pm (EET) due to the delisting process. The Helsinki Stock Exchange resolves on the delisting of Talentum’s shares from the official list of the Helsinki Stock Exchange on Talentum’s request on or about 21 April 2014 and the delisting will be announced separately.
ALMA MEDIA CORPORATION
Board of Directors
For more information, please contact:
Mikko Korttila, General Counsel of Alma Media Corporation, tel +358 (0) 10 665 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
- Published: 22.3.2016, 15:15
- Category: Releases, Stock exchange release