Affecto Plc – Stock Exchange Release 19 February 2018 at 12:00, Helsinki
THE COURT OF ARBITRATION HAS CONFIRMED CGI NORDIC INVESTMENTS LIMITED’S REDEMPTION RIGHT REGARDING THE SHARES IN AFFECTO PLC AND PUBLIC TRADING IN THE COMPANY'S SHARES HAS BEEN SUSPENDED
The court of arbitration appointed by the Redemption Committee of the Finland Chamber of Commerce confirmed on 16 February 2018 CGI Nordic Investments Limited’s (“CGI Nordic”) right to redeem the shares owned by minority shareholders in Affecto Plc (“Affecto”) in the redemption proceedings instituted by CGI Nordic pursuant to Chapter 18 of the Finnish Limited Liability Companies Act (624/2006, as amended) (“Companies Act”). The court of arbitration also confirmed that CGI Nordic has the right to obtain title to the minority shares provided that it grants a security interest for the payment of the redemption price and any interest accruing thereon. As a result, Nasdaq Helsinki Ltd suspended public trading of Affecto's shares today at 09:20 a.m.
The grant of the security interest, the transfer of title to CGI Nordic and the subsequent delisting of Affecto shares will be announced in due course through a separate stock exchange release.
Affecto Plc
ADDITIONAL INFORMATION
For additional information, please contact:
Heikki Nikku
Managing Director
heikki.nikku@cgi.com
+358 400 500 782
Jarkko Virtanen
Director, Marketing and Communications
jarkko.virtanen@cgi.com
+358 40 7593603
AFFECTO
Affecto is a Northern European full-stack data house with expertise in data intensive technologies. Their expertise ranges from enterprise information management to artificial intelligence. Affecto creates business value for its customers by helping them become data driven, thus transforming their businesses. Affecto has long term, committed customer relationships with a large number of essential Northern European companies as well as public institutions. Affecto has a local presence with 18 offices forming a powerful grid, and is a unique home for its 1000+ employees.