Trustee appointed for the arbitration proceedings concerning the redemption of minority shares in Uponor
Trustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Uponor
Uponor Corporation, Stock Exchange Release, 21 December 2023, 4.40 p.m. EET
Georg Fischer AG (“GF”) has on November 17, 2023, commenced redemption proceedings in respect of Uponor Corporation’s (“Uponor”) minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act (624/2006, as amended, the “Finnish Companies Act”) in order to obtain ownership of all the issued and outstanding shares in Uponor.
Due to GF’s application for the above-mentioned arbitration proceedings, the Redemption Committee of the Finland Chamber of Commerce has petitioned the District Court of Helsinki for the appointment of a trustee to supervise the interests of Uponor’s minority shareholders during the redemption process. With its decision given on December 20, 2023, the District Court of Helsinki has appointed attorney-at-law Jasse Ritakallio to act as such trustee.
GF’s notice, as referred to in Chapter 18, Section 5, Subsection 2 of the Finnish Companies Act, is attached to this release and has been published on the website of Uponor. GF’s notice will also be published in the Official Gazette of Finland (Fi: Virallinen lehti) without delay.
Additional Information:
Franciska Janzon, Senior Vice President, Corporate Communications/IR, Uponor
+358 (0) 20 129 2821
About Uponor
Uponor is a leading global provider of solutions that efficiently and effectively move water through cities, buildings, and homes. Uponor helps customers in residential and commercial construction, municipalities, and utilities, be more productive – and continuously find new ways to conserve, manage and provide water responsibly, unlocking its potential to provide comfort, health, and efficiency. Uponor’s safe drinking water, energy-efficient radiant heating and cooling systems, and reliable infrastructure solutions are sold in more than 80 countries. Uponor employs approximately 3,600 professionals in 26 countries in Europe and North America. In 2022, Uponor’s net sales totaled approximately EUR 1.4 billion. Uponor is based in Finland and listed on Nasdaq Helsinki. Uponor is part of the Georg Fischer group, located in Schaffhausen (Switzerland).
Attachment: GF’s Notice
Attachment
