Trustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Enedo Plc
Enedo Oyj, Stock Exchange Release 16.1.2023 at 17:30 EET
Trustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Enedo Plc
Inission AB ("Inission") has on 4 November 2022 commenced redemption proceedings in respect of Enedo Plc's ("Enedo") minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Enedo.
Due to Inission's application for the abovementioned arbitration proceedings, the Redemption Board of the Finland Chamber of Commerce has petitioned the District Court of Itä-Uusimaa for the appointment of a trustee to supervise the interests of Enedo's minority shareholders during the redemption process. With its decision given on 10 January 2023, the District Court of Itä-Uusimaa has appointed Professor Vesa Annola to act as such trustee.
Inission’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 Enedo. It will also be published in the National Official Journal of Finland (in Finnish: Virallinenlehti) without delay.
According to the current estimate the delisting of Enedo’s shares from Nasdaq Helsinki Ltd is expected to occur around end of April 2023.
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 2021 the group´s revenue was EUR 36,4 million. Enedo has 330 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.
www.enedopower.com
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