LAROX CORPORATION COMPANY ANNOUNCEMENT 17 May 2010 at 11 am
LAROX CORPORATION APPLIES FOR DELISTING OF ITS SHARES
Outotec Oyj (“Outotec”) owns approximately 98.5 per cent of all the shares in
Larox Corporation (“Larox”)and approximately 99.7 per cent of all the votes in
Larox, excluding the treasury shares held by Larox. Outotec has initiated
minority redemption proceedings in accordance with Chapter 18 of the Finnish
Companies Act in order to acquire all the remaining Larox series B shares held
by the minority shareholders. Outotec owns all of the series A shares of Larox.
The arbitrator appointed by the Redemption Committee of the Central Chamber of
Commerce of Finland has summoned the parties to an oral hearing concerning the
redemption of the minority shares to be held on 10 June 2010. Provided that the
Arbitral Tribunal confirms that Outotec's redemption right is clear, Outotec is
entitled to gain title to all the Larox series B shares against the placing of
security approved by the Arbitral Tribunal for the payment of the redemption
price.
Larox's Board of Directors has decided to submit an application to terminate
the trading in the Larox series B shares and to delist the Larox series B
shares from the official list of NASDAQ OMX Helsinki Ltd. (“NASDAQ OMX
Helsinki”). A delisting application concerning the matter has been submitted
today to NASDAQ OMX Helsinki. In the application Larox requests that the
quotation of the Larox series B shares on the official list of NASDAQ OMX
Helsinki be terminated as soon as possible upon Outotec having gained title to
all the Larox shares.
Larox Corporation
For further information:
Mr. Juhana Ylikojola
President & CEO
Phone +358 207 687 266
Fax +358 207 687 380
juhana.ylikojola@larox.com
www.larox.com
Distribution NASDAQ OMX Helsinki Ltd., Central Media
Larox develops, designs and manufactures industrial filters and is a
leading technology company in its field. Larox is a full service solution
provider in filtration for separating solids from liquids. It supplies
comprehensive aftermarket services throughout the lifespan of the Larox
solution. Companies world-wide in mining and metallurgy, chemical processing
and related industries benefit from the Larox technologies. Larox operates in
over 40 countries and has over 600 employees. Larox has assembly shops in
Finland and in China, and the Group is headquartered in
Lappeenranta, Finland. Net sales in 2009 totaled 150.2 million euros, of which
more than 93 % were generated by exports and the company's foreign operations.
Larox is a subsidiary of Outotec.