Plc Uutechnic Group Oyj: Arbitral tribunal has confirmed SPX FLOW Technology Germany GmbH’s redemption right regarding Plc Uutechnic Group Oyj’s minority shares and trading in Plc Uutechnic Group Oyj’s shares will be suspended
Plc Uutechnic Group Oyj Stock exchange release 23 June 2021 at 5:00 p.m. EET
Arbitral tribunal has confirmed SPX FLOW Technology Germany GmbH’s redemption right regarding Plc Uutechnic Group Oyj‘s minority shares and trading in Plc Uutechnic Group Oyj‘s shares will be suspended
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today confirmed that SPX FLOW Technology Germany GmbH (“SPX FLOW”) has the right to redeem the minority shares in Plc Uutechnic Group Oyj (“UTG”) and that SPX FLOW has the right to obtain title to the minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.
Following UTG’s application, Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) has on 19 May 2021 confirmed that that the quotation of UTG’s shares on the official list of Nasdaq Helsinki will be terminated as soon as possible after SPX FLOW has obtained title to all outstanding shares in UTG in the redemption proceedings.
As a result of the confirmation of SPX FLOW’s redemption right, Nasdaq Helsinki will suspend public trading in UTG’s shares. The posting of security and the subsequent delisting of UTG’s shares will be announced in due course through a separate stock exchange release.
In Uusikaupunki, 23 June 2021
Plc Uutechnic Group Oyj
Board of Directors
Dominic Hill, Managing Director, Plc Uutechnic Group Oyj, +44 (0) 161 249 1444
UTG Mixing Group is a global technology group that provides competitive mixing solutions with a customer-oriented approach, minimizing life cycle costs. Its main customer sectors are the chemical, food, metallurgical and fertilizer industries, as well as environmental technology, water treatment and pharmaceuticals. The parent company of UTG Mixing Group is Plc Uutechnic Group Oyj, whose shares are listed on Nasdaq Helsinki. The business is carried out in the subsidiaries of the group, Uutechnic Oy and Stelzer Rührtechnik International GmbH.