The arbitral tribunal has confirmed Inission AB’s redemption right over the minority shares in Enedo and trading in the Enedo shares will be suspended
Enedo Plc, Stock Exchange Release, 30 May 2023 at 8.55 a.m. EEST
The arbitral tribunal has confirmed Inission AB’s redemption right over the minority shares in Enedo and trading in the Enedo shares will be suspended
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce in connection with the redemption proceedings concerning the minority shares in Enedo Plc (“Enedo”) has in its interim decision confirmed that Inission AB (“Inission”) has the right to redeem the minority shares in Enedo and that Inission 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.
Enedo announced on 8 March 2023 that the Board of Directors of Enedo has resolved to apply for the termination of public trading in the shares of Enedo and for the delisting of its shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) so that the delisting in respect of the Enedo shares admitted to trading on the official list of Nasdaq Helsinki would become effective as soon as possible upon Inission having gained title to all the shares in Enedo in the pending redemption proceedings under Chapter 18 of the Finnish Limited Liability Companies Act.
Following the confirmation of the redemption right, Nasdaq Helsinki will suspend trading in the Enedo shares on 30 May 2023 before the opening of trading. The title to the minority shares is transferred to Inission once a security approved by the arbitral tribunal has been placed, which is expected to take place on or about 2 June 2023. The posting of the security and the delisting of the Enedo shares will be announced separately.
For more information, please contact:
Mikael Fryklund
President and CEO
Tel. 040 500 6864
Enedo
Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo’s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo’s three main product categories are Led Drivers, Power supplies and Power Systems. In 2022 the group´s revenue was EUR 46,8 million. Enedo has 357 employees, and its main functions are located in Finland, Italy, Tunisia and USA. The group´s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Ltd.
