Plc Uutechnic Group Oyj: Arbrital tribunal appointed for the arbitration proceedings concerning the redemption of the minority shares in Plc Uutechnic Group Oyj
Plc Uutechnic Group Oyj Stock exchange release 9 April 2021 at9:00 am EET
Arbrital tribunal appointed for the arbitration proceedings concerning the redemption of the minority shares in Plc Uutechnic Group Oyj
As previously announced, SPX FLOW Technology Germany GmbH (“SPX FLOW”) has on 20 January 2021 commenced mandatory redemption proceedings in respect of Plc Uutechnic Group Oyj’s (“UTG”) minority shares by applying for arbitration proceedings to be initiated in accordance with Chapter 18, Section 4 of the Finnish Companies Act in order to redeem the remaining shares in UTG.
The Redemption Board of the Finland Chamber of Commerce has on 8 April 2021 appointed an arbitral tribunal consisting of one arbitrator for the arbitration proceedings concerning the redemption of the remaining shares in UTG. The arbitral tribunal comprises attorney-at-law Petri Taivalkoski.
In Uusikaupunki, 9 April 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.