The Arbitral Tribunal appointed by the Finnish Central Chamber of Commerce has declared in its session held on 20 March 2000 that Amer's right to redeem the shares held by minority shareholders in Suunto Oyj is not in dispute and that Amer is entitled to obtain title to Suunto's shares by placing a security approved by the Arbitral Tribunal to cover payment of the redemption price. The Arbitral Tribunal has at the same time determined the security to be placed by Amer.
According to the Companies Act, Amer will acquire title to Suunto's minority shares upon placement of the security approved by the Arbitral Tribunal. Amer will place the said security on 21 March 2000, at which point its ownership in Suunto will increase to 100 percent.
No action on the part of Suunto's minority shareholders is required at this stage. The redemption price will be confirmed in an arbitral award given later.
Suunto requested the Board of the Helsinki Exchanges on 11 February 2000 to delist its shares from the main list immediately following Amer's placement of the security approved by the Arbitral Tribunal.
AMER GROUP PLC
Communications
Marja-Leena Simola
V.P., Communications
Tel. +358 9 7257 8306
Fax: +358 9 791 385
e-mail: marja-leena.simola@amer.fi
SUUNTO OYJ
Heikki Kunnas
Acting President
Tel.+358 9 852 4050
Fax +358 9 852 40591