15.12.2022 16:45:00 EET | Reka Industrial Oyj | Decisions of extraordinary general meeting
Reka Industrial Plc: Decisions of the Extraordinary General Meeting
The Extraordinary General Meeting of Reka Industrial Plc was held today, 15 December 2022, in Hyvinkää.
The company announced on 10 November 2022 that it has signed an agreement with Nexans Group regarding the sale of all outstanding shares in company’s wholly owned subsidiary Reka Cables Ltd. The corporate sale is conditional to the acceptance of the Extraordinary General Meeting and regulatory approvals.
According to the Fairness Opinion -statement acquired from external expert by the Board of Directors the sales price is fair from financial point of view.
The Extraordinary General Meeting decided to approve the acquisition in accordance with the proposal of the Board of Directors and shareholders, who represent more than 50 percent of the votes, in which case the acquisition is expected to take place after approval by the authorities. The goal is to complete the acquisition during the first half of 2023.
Reka Oy, which represents a total of 65.36 percent of Reka Industrial's voting power, was irrevocably committed to vote in favor of the acquisition.
In accordance with the Board of Directors' proposal, upon completion of the above-mentioned corporate sale, the Extraordinary General Meeting authorized that EUR 0.20 per share will be distributed to shareholders from the company's unrestricted equity after the completion of the acquisition.
In accordance with the Board of Directors' proposal, the Extraordinary General Meeting authorized the Board of Directors to decide the record and payment dates of the distribution from the non-restricted equity, however having the payment date within a month from completion of the above-mentioned corporate sale.
Hyvinkää, 15 December 2022
Reka Industrial Plc
Jukka Poutanen, Managing Director, tel. +358 40 833 9007
Reka Industrial is involved in the transition of both the energy and transport industries. Reka Industrial class B shares are listed on the Nasdaq Helsinki Ltd.
- Jukka Poutanen, Managing Director, +358 40 833 9007, [email protected]