Stock exchange release
26 February 2020 at 8:30 am EET
Special representative appointed for the arbitration proceedings concerning the redemption of the minority shares in Hoivatilat Plc
Aureit Holding Oy ("Aureit Holding") has on 15 January 2020 commenced mandatory redemption proceedings in respect of Hoivatilat Plc's ("Hoivatilat") minority shares by applying for arbitration proceedings to be initiated in accordance with Chapter 18, Section 4 of the Finnish Companies Act (the "Companies Act") in order to redeem the remaining shares in Hoivatilat.
As a result of Aureit Holding's application for initiation of arbitration proceedings, the Redemption Board of Finland Chamber of Commerce has petitioned the District Court of Oulu for the appointment of a special representative to look after the interests of Hoivatilat's minority shareholders in the arbitration during the redemption proceedings. With its decision given on 25 February 2020, the District Court of Oulu has appointed Petra Kiurunen, attorney-at-law, to act as the special representative.
Aureit Holding's notice to the minority shareholders, as referred to in Chapter 18, Section 5, Subsection 2 of the Companies Act, is attached to this release.
tel. +358 40 773 4054
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