Helsinki, Finland, 2016-06-22 07:16 CEST (GLOBE NEWSWIRE) -- Finnlines Plc Stock Exchange Release 22 June 2016 at 8:15
GRIMALDI GROUP S.P.A. HAS THE RIGHT TO REDEEM THE MINORITY SHARES IN FINNLINES PLC
Grimaldi Group S.p.A. ("Grimaldi"), together with Grimaldi Euromed S.p.A. and Grimaldi Deep Sea S.p.A., both of which are Grimaldi's subsidiaries, holds approximately 98.22 percent of all the shares and votes in Finnlines Plc ("Finnlines"). Grimaldi has initiated redemption proceedings in accordance with Chapter 18 of the Finnish Companies Act to acquire all the shares in Finnlines. The Arbitral Tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has held an oral hearing regarding the matter on 21 June 2016.
The Arbitral Tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has rendered a separate interim award after the oral hearing that has been notified to Grimaldi today 22 June 2016. In the interim award, the Arbitral Tribunal has confirmed that Grimaldi has the right to redeem the minority shares in Finnlines. In addition, the Arbitral Tribunal confirmed that Grimaldi has the right to obtain title to the minority shares by lodging a security approved by the Arbitral Tribunal for the payment of the redemption price and the interest accruing thereon.
A separate stock exchange release will be published regarding the lodging of the security and subsequent termination of public trading in the Finnlines shares.
Further information: Tapani Voionmaa, Group General Counsel, tel. +358 50 565 5207
Finnlines Plc
Tom Pippingsköld Tapani Voionmaa
CFO Group General Counsel
DISTRIBUTION
Nasdaq Helsinki Ltd
Main media
www.finnlines.com
About Finnlines
Finnlines is a leading shipping operator of ro-ro and passenger services in the Baltic Sea and the North Sea. The Company is listed on the Nasdaq Helsinki Ltd and is a part of the Grimaldi Group, one of the world’s largest operators of ro-ro vessels and the largest operator of the Motorways of the Sea in Europe for both passengers and freight. This affiliation enables Finnlines to offer liner services to and from any destination in the Mediterranean, North Europe, West Africa as well as the Atlantic coast of both North and South America.