Neo Industrial Plc Stock Exchange Release 8 November 2012 at 3.50 pm
The Extraordinary General Meeting (EGM) of Neo Industrial Plc was held today, 8 November 2012, in Helsinki.
The EGM approved the demerger plan signed by the Board of Directors on 16 August 2012, according to which Neo Industrial Plc demerges partially so that part of its assets and liabilities will transfer without liquidation procedure to a newly established public limited liability company, Avilon Plc. In accordance with the demerger plan, the shareholders of Neo Industrial Plc will receive as demerger consideration class A and B shares in Avilon Plc in proportion to their holdings. In addition, the Board was authorized to decide that the implementation of the demerger will not be registered if the conditions change and the Board assesses that the implementation of the demerger is contrary to the Company’s and its Shareholders’ interest.
The EGM approved the proposal that the number of the Members of the Board shall be five (5) and appointed Markku E. Rentto as the new Member and Chairman of the Board and Matti Lainema as the Deputy Chairman of the Board.
In Helsinki, 8 November 2012
Neo Industrial Plc
The Board of Directors
Further information:
Markku E. Rentto, Chairman of the Board, tel. +358 207 209 191
Neo Industrial’s strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial’s class B shares are listed on the NASDAQ OMX Helsinki Stock Exchange. Neo Industrial’s business segments are Cable and Viscose Fibers.