SRV GROUP PLC STOCK EXCHANGE RELEASE 30 JUNE 2022 AT 14:05 EEST
SRV Group Plc's reverse share split and there to related redemption of shares to be executed on 4 July 2022 and the company will execute a directed share issue without consideration
SRV Group Plc's ("SRV" or "Company") Extraordinary General Meeting held on 30 May 2022 resolved on reverse share split and thereto related redemption of shares to the effect that each forty (40) shares of the Company are merged into one (1) share. SRV's Board of Directors has today, 30 June 2022, resolved that the reverse share split and thereto related redemption of shares will be executed on Monday 4 July 2022 ("Reverse Split Date"). The reverse share split will be executed in the book-entry system maintained by Euroclear Finland Oy after the close of trading on the Reverse Split Date.
Based on the authorization granted by the Extraordinary General Meeting of SRV held on 30 May 2022, concurrently with the reverse share split and thereto related redemption of shares, a directed share issue will be executed in which the Company's treasury shares are conveyed without consideration to the effect that the number of shares in each shareholders' book-entry account is made divisible by 40. The share issue is directed to shareholders, whose ownership of shares according to the book-entry accounts is not divisible by 40 on the Reverse Split Date. The Board of Directors of the Company will resolve on the directed share issue without consideration separately on the Reverse Split Date. Concurrently with the aforementioned conveyance of shares, the Company will on the Reverse Split Date redeem without compensation 39 shares for each 40 existing shares. The shares redeemed without compensation in connection with the reduction of number of shares will be cancelled immediately after the redemption. The reverse share split does not affect the Company's equity.
The last day of trading on the official list of the Nasdaq Helsinki Ltd in Company's shares (ISIN-code FI0009015309) before the reverse share split is 4 July 2022. The cancellation of shares related to the reverse share split and the Company's new total number of shares issued will be registered in the Trade Register maintained by the Finnish Patent and Registration Office on or about 4 July 2022. Trading with the Company's new total number of shares is expected to commence on the official list of Nasdaq Helsinki Ltd with a new ISIN-code (FI4000523675) on 5 July 2022. SRV's trading code SRV1V will remain the same after the reverse share split.
The reverse share split and thereto related directed share issue and redemption of shares will not require any measures from shareholders.
For further information, please contact:
Anu Tuomola, General Counsel, tel. +358 (0)50 4143 280, [email protected]
SRV in brief
SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.
Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2021, our revenue totalled EUR 932.6 million. In addition to about 1,000 SRV employees, we have a network of around 3,600 partners.
SRV - Building for life