Oy Lival Ab has submitted a statement of claims in the proceedings related to squeeze out of minority shares of Nordic Aluminium Oyj on November 12th 2012 pursuant to Chapter 18 of the Companies Act.
According to Section 6 of Chapter 18 of the Companies Act, in the event the Arbitral Tribunal considers that the squeeze out right of Lival is evident, the minority shares under the squeeze out proceedings shall be promptly transferred to Lival subject to Lival's deposit of a security for the payment of the redemption price approved by the Arbitral Tribunal.
The board of directors of Nordic Aluminium has resolved on December 7th 2012 to apply for cessation of public trading with the shares in Nordic Aluminium and in conjunction thereto, de listing of the shares in Nordic Aluminium. Nordic Aluminium has submitted a de listing application to the Listing Committee of NASDAQ OMX Helsinki on December 7th 2012. Pursuant to the de listing application, Nordic Aluminium requests to cease the public trading with the shares in Nordic Aluminium and de listing of the shares without delay subject to the transfer of the minority shares to Lival in accordance with Section 6 of Chapter 18 of the Companies Act.
In the event the Arbitral Tribunal resolves that the squeeze-out right of Lival is evident, the public trading with the shares in Nordic Aluminium may be ceased already as a result of the resolution of the Arbitral Tribunal prior to the Lival's deposit of the security approved by the Arbitral Tribunal to pay the redemption price.
