Stock exchange release
16 April 2020 at 2:15 pm EET
Hoivatilat Plc applies for delisting of its shares from Nasdaq Helsinki
The board of directors of Hoivatilat Plc ("Hoivatilat") has decided to apply for the termination of public trading in Hoivatilat's shares and for delisting of Hoivatilat's shares from the official list of Nasdaq Helsinki Ltd ("Nasdaq Helsinki").
Aureit Holding Oy ("Aureit Holding") owns more than nine-tenths (9/10) of all shares and voting rights in Hoivatilat 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 Hoivatilat held by the minority shareholders. Aureit Holding has requested the arbitral tribunal appointed for the redemption proceedings to confirm Aureit Holding's redemption right and that Aureit Holding has the right to obtain title to all Hoivatilat'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.
Hoivatilat will today submit a delisting application to the Listing Committee of Nasdaq Helsinki requesting that the quotation of Hoivatilat's shares on the official list of Nasdaq Helsinki will be terminated as soon as possible after Aureit Holding has obtained title to all outstanding shares in Hoivatilat pursuant to Chapter 18, Section 6 or Section 11 of the Companies Act.
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Hoivatilat in brief
Hoivatilat Plc specialises in producing, developing, owning and leasing out nursing homes, day care centres, schools and service communities. Founded in 2008, the company has been working in cooperation with as many as 60 Finnish municipalities and has launched 200 property projects throughout Finland and in Sweden. www.hoivatilat.fi