Vacon Plc, Stock Exchange Release, 2 April 2015 at 9.30 a.m. (EET)
The Board of Directors of Vacon Plc ("Vacon") has decided to apply for the termination of trading in Vacon shares and the delisting of shares from NASDAQ OMX Helsinki Ltd ("NASDAQ OMX Helsinki"). In the application to be submitted to NASDAQ OMX Helsinki, Vacon will request that the delisting take effect as soon as possible after Oy Danfoss Ab has acquired the entire share capital of Vacon.
Oy Danfoss Ab owns 98.78% of the Vacon shares and the votes conferred by the shares. In accordance with Chapter 18 of the Limited Liability Companies Act, Oy Danfoss Ab has instituted proceedings for the redemption of minority shares to obtain the remaining Vacon shares held by minority shareholders.
The Redemption Committee of the Central Chamber of Commerce has established a three-member arbitral tribunal to resolve any disputes concerning the right of redemption and the redemption price of the Vacon shares held by parties other than Oy Danfoss Ab.
VACON PLC
Further information:
- Sebastian Linko, Director, Corporate Communications and Investor Relations, +358 (0)40 8371 634, sebastian.linko(at)vacon.com
Vacon in brief
Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 31 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2014, Vacon's revenues amounted to EUR 409.4 million, and the company employed globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Vacon is part of Danfoss Group.
Driven by Drives, www.vacon.com
Distribution:
NASDAQ OMX Helsinki
Financial Supervisory Authority
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