The arbitral tribunal has confirmed Montana BidCo’s redemption right over the minority shares in Nordic Lights and trading in the Nordic Lights shares will be suspended

20.9.2023 09:00:01 EEST | Nordic Lights Group Oyj | Company Announcement

Nordic Lights Group Corporation                 COMPANY RELEASE           September 20, 2023 at 9.00 a.m. EEST

 

The arbitral tribunal has confirmed Montana BidCo’s redemption right over the minority shares in Nordic Lights and trading in the Nordic Lights 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 Nordic Lights Group Corporation (“Nordic Lights”) has in its interim decision confirmed that Montana BidCo Oy ("Montana") has the right to redeem the minority shares in Nordic Lights and that Montana 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 possible interest accruing thereon.

 

Following the confirmation of the redemption right, Nasdaq Helsinki Ltd is expected to suspend trading in the Nordic Lights shares on September 20, 2023. The posting of the security and the delisting of the Nordic Lights shares will be announced separately. The Board of Directors of Nordic Lights will apply for the removal of Nordic Lights’ shares from public trading and for the delisting of its shares from the Nasdaq First North Growth Market Finland so that the delisting would occur as soon as possible upon Montana having gained title to all the shares in Nordic Lights in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act.

 

 

Further enquiries:

 

Tom Nordström, Chief Executive Officer, Nordic Lights, [e-mail],

Tel. [phone]

 

Certified Adviser:

Oaklins Merasco Ltd

Tel. [phone]

 

About Nordic Lights

 

Nordic Lights, based in Pietarsaari, Finland, has paved its way as a global premium supplier of high-quality lighting solutions for heavy-duty equipment in several demanding industrial sectors. Nordic Lights’ mission is to enable the safe and efficient use of equipment. With three decades of experience Nordic Lights works with the most demanding manufacturers of machinery from design to production and aftermarket support. Nordic Lights’ revenue in 2022 was EUR 82 million. The company employs around 300 employees globally. Nordic Lights’ share is listed on Nasdaq Helsinki’s First North marketplace. www.nordiclights.com

Attachments

• Download announcement as PDF.pdf

© STT Info Finland, source STT Info English Regulatory Releases