Plc UutechniPlc Uutechnic Group Oyj: Plc Uutechnic Group Oyj applies for delisting of its shares from Nasdaq Helsinki
Plc Uutechnic Group Oyj Stock exchange release 12 May 2021 at 2:00 p.m. EET
Plc Uutechnic Group Oyj applies for delisting of its shares from Nasdaq Helsinki
The board of directors of Plc Uutechnic Group Oyj (“UTG”) has decided to apply for the termination of public trading in UTG’s shares and for delisting of UTG’s shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”).
SPX FLOW Technology Germany GmbH (“SPX FLOW”) owns more than nine-tenths (9/10) of all shares and voting rights in UTG and has therefore initiated arbitration proceedings in accordance with Chapter 18 of the Finnish Companies Act (the “Companies Act”) in order to redeem all the remaining shares in UTG held by the minority shareholders. SPX FLOW has requested the arbitral tribunal appointed for the redemption proceedings to confirm SPX FLOW’s redemption right and that SPX FLOW has the right to obtain title to all UTG’s minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price or by paying the redemption price to the minority shareholders.
UTG will today submit a delisting application to the Listing Committee of Nasdaq Helsinki requesting 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 pursuant to Chapter 18, Section 6 or Section 11 of the Companies Act.
In Uusikaupunki, 12 May 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.