Financial Supervisory Authority has in Accordance with Section 26 of the Chapter 11 of the Securities Markets Act Granted a Permission to Derogate from the Obligation to Launch a Bid with Regard to Plc Uutechnic Group Oyj
PLC UUTECHNIC GROUP OYJ STOCK EXHANGE RELEASE August 16, 2016 at 14:00
FINANCIAL SUPERVISORY AUTHORITY HAS IN ACCORDANCE WITH SECTION 26 OF THE CHAPTER 11 OF THE SECURITIES MARKETS ACT GRANTED A PERMISSION TO DEROGATE FROM THE OBLIGATION TO LAUNCH A BID WITH REGARD TO PLC UUTECHNIC GROUP OYJ
The Board of Directors of Plc Uutechnic Group Oyj resolved at the meeting, held 6 June 2016, in accordance with authorization given on 28 April 2016 by the Annual General Meeting, on an issue of maximum 1.000.000 new shares of the Company. These shares shall be directed to the employees of the Company Group and to the ordinary members of the Board of Directors of the Company.
The chairman of the Board of Directors of the Company Jouko Peräaho and the technical director of the Company Timo Lindström (the applicants) participated in a previous Company-related arrangement with regard to which Financial Supervisory Authority considered in its decision FIVA 14/02.05.05/2015 that the applicants acted together with a broader investor group, and, on grounds presented in the said decision and subject to certain conditions granted a permission to derogate from the obligation to launch a bid set forth in Section 19 of Chapter 11 of the Securities Markets Act.
The applicants have applied from Financial Supervisory Authority for an exceptional permit, in order to be able to participate in the aforementioned share issue so that the decision FIVA 14/02.05.05/2015 of Financial Supervisory Authority would not prevent the participation nor an obligation to launch a bid in accordance with Section 19 of Chapter 11 of the Securities Markets Act would not arise based on the shares subscribed in the said share issue.
Financial Supervisory Authority has on 12 August 2016 granted an exceptional permit (FIVA 11/02.05.05/2016) with regard to the said share issue so that Jouko Peräaho shall have right to subscribe 50,000 shares at maximum and Timo Lindström shall have right to subscribe 150,000 shares at maximum. Financial Supervisory Authority considers that the prohibition to acquire or subscribe more shares in the Company or otherwise raise the proportional voting rights in the Company as set forth in the exceptional permit 14/02.05.05/2015 shall otherwise remain valid with regard to Jouko Peräaho, Jonni Peräaho, Timo Lindström, Ilona Lindström, Risto Lindström and UuCap Oy (a company owned by the aforementioned persons together) which are all considered to act together.
PLC UUTECHNIC GROUP OYJ
Chairman of the Board
Further information: Jouko Peräaho, the Chairman of the Board of directors, +358 500 740808
Uutechnic Group is focused on improving the competitiveness of its customers by providing them with advanced equipment technology and unique service concept worldwide. The product range includes agitators, different types of pressure vessels, process- and storage tanks, reactors and heat exchangers. Also different types of long welded and machined axially symmetrical parts as rolls, cylinders, tubes and cones.
The main industries are hydrometallurgy, mining-, pulp and paper-, food-, fertilizer-, other chemical industries and environmental technology.
Plc Uutechnic Group’s subsidiaries are AP-Tela Oy, Japrotek Oy Ab, Uutechnic Oy and Stelzer Rührtechnik International GmbH.