Plc Uutechnic Group Oyj: Special representative appointed for the arbitration proceedings concerning the redemption of the minority shares in Plc Uutechnic Group Oyj
Plc Uutechnic Group Oyj Stock exchange release 26 February 2021 at 11:30 a.m. EET
Special representative appointed for the arbitration proceedings concerning the redemption of the minority shares in Plc Uutechnic Group Oyj
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 (the “Companies Act”) in order to redeem all the remaining shares in UTG.
As a result of SPX FLOW’s application for initiation of arbitration proceedings, the Redemption Board of Finland Chamber of Commerce has petitioned the District Court of Varsinais-Suomi for the appointment of a special representative to look after the interests of UTG’s minority shareholders in the arbitration during the redemption proceedings. With its decision given on 23 February 2021, the District Court of Varsinais-Suomi has appointed Tarja Wist, attorney-at-law, to act as the special representative.
SPX FLOW’s notice to the minority shareholders, as referred to in Chapter 18, Section 5, Subsection 2 of the Companies Act, is attached to this release.
In Uusikaupunki, 26 February 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.