PKC Group Plc Company announcement 6 April 2017 9.55 a.m.
Changes in PKC's financial reporting
MSSL Estonia WH OÜ (”MSSL”) has on March 24, 2017 announced that it will complete a voluntary recommended public tender offer, commenced on February 6, 2017, to purchase all the issued and outstanding shares and stock options in PKC Group Plc (”PKC”) that are not owned by PKC or any of its subsidiaries. Furthermore, MSSL has informed that MSSL has gained ownership of 94.18 percent of all the shares and voting rights in PKC. As a result, MSSL has informed PKC that the redemption right and obligation under the Finnish Companies Act in respect of the PKC shares and stock options held by minority shareholders has arisen. MSSL informed also that it intends to initiate arbitral proceedings as provided in the Finnish Companies Act as soon as possible to complete the redemption of the shares and stock options held by minority shareholders.
As a result of MSSL having gained ownership of 94.18 percent and having informed its intentions to initiate arbitral proceedings to complete the redemption of the shares and stock options held by minority shareholders, board of directors of PKC has resolved that the company will not publish interim statement for Q1 and Q3. This marks a change to the financial reporting timetable announced earlier by PKC, according to which PKC would publish an interim statement for Q1 on Friday May 5, 2017 and for Q3 on Thursday October 26, 2017. Pursuant to the amendment of the Finnish Securities Markets Act that entered into force on 26 November 2015 listed companies are no longer obliged to publish interim reports for the first three and nine months of their financial periods.
PKC Group Plc
Board of Directors
Matti Hyytiäinen
President & CEO
Further information:
Juha Torniainen, CFO, PKC Group Plc, Tel. + +358 40 570 8871
Distribution
Nasdaq Helsinki
Main media
www.pkcgroup.com
PKC Group is a global partner, designing, manufacturing and integrating electrical distribution systems, electronics and related architecture components for the commercial vehicle industry, rolling stock manufacturers and other selected segments. The Group has production facilities in Brazil, China, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the USA. The Group's revenue from continuing operations in 2016 totalled EUR 846 million. PKC Group Plc is listed on Nasdaq Helsinki.