Helsinki, 2016-03-16 15:01 CET (GLOBE NEWSWIRE) -- DIGIA PLC STOCK EXCHANGE RELEASE 16.3.2016 AT 16:01
DIGIA’S DEMERGER APPROVED BY THE ANNUAL GENERAL MEETING
Digia's Annual General Meeting approved the partial demerger plan and decided on the partial demerger of Digia Plc in accordance with the plan. As part of the demerger, the Articles of Association of Qt Group Plc, which is attached to the partial demerger plan, and the decrease in Digia Plc's additional paid-in capital by the entire amount of 7,899,485.80 EUR, were approved. To the extent that the decreased amount is not used for the distribution of assets with Qt Group Plc, it shall be recorded in the invested unrestricted equity fund of Digia Plc.
According to the demerger plan, Digia Plc will be demerged in such a manner that all assets, debts and responsibilities related to Digia's Qt segment are transferred to a new company called Qt Group Plc. Digia's Domestic segment will remain with Digia.
The purpose of the demerger is to enable the development of the Qt and Domestic segments as two separate listed companies focusing on distinct sectors and to clarify their respective corporate structures, management and financing. The Qt and Domestic segments have different management, development and financing needs due to their different business logic and market areas. The objective of the demerger is to enable the targeting of investments at relevant operations, to clarify the financial monitoring of business operations and their valuation and to enhance the potential to increase shareholder value.
The demerger will enter into force when its implementation is registered in the Trade Register. The planned registration date is 1 May 2016.
As compensation, Digia's shareholders will be issued with one Qt share for each Digia share they own. This will not require any action from Digia shareholders.
Qt shares will be issued exclusively to Digia shareholders in connection with the demerger; the stock-exchange listing will not involve a public offering of Qt shares. It is estimated that trading in Qt shares will begin on 2 May 2016, after which Qt shares will be available for ordinary public trading.
Digia Plc
Board of Directors
FOR FURTHER INFORMATION
President and CEO Juha Varelius,
tel. +358 10 313 3000
e-mail: juha.varelius@digia.com
DISTRIBUTION
NASDAQ OMX Helsinki
Key media
www.digia.com