DNA PLC STOCK EXCHANGE RELEASE 10 December 2019, 9:30 am EET
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
The board of directors of DNA Plc ("DNA") has decided to apply for the termination of public trading in DNA's shares and for delisting of DNA's shares from the official list of Nasdaq Helsinki Ltd ("Nasdaq Helsinki").
Telenor Finland Holding Oy ("Telenor") owns more than nine-tenths (9/10) of all shares and voting rights in DNA and has therefore initiated arbitration proceedings in accordance with Chapter 18 of the Finnish Companies Act ("Companies Act") in order to redeem all the remaining shares in DNA held by the minority shareholders. Telenor is requesting the arbitral tribunal to be appointed for the redemption proceedings to confirm Telenor's redemption right and that Telenor has the right to obtain title to all DNA's minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price.
DNA will submit today a delisting application to the Listing Committee of Nasdaq Helsinki requesting that the quotation of DNA' shares on the official list of Nasdaq Helsinki will be terminated as soon as possible after Telenor has obtained title to all outstanding shares in DNA pursuant to Chapter 18, Section 6 of the Companies Act.
DNA Plc
Further enquiries:
Marja Mäkinen, Head of IR, DNA Plc, +358 44 044 1262, marja.makinen@dna.fi
DNA Corporate Communications, +358 44 044 8000, communications@dna.fi
DNA Plc is a Finnish telecommunications group providing high-quality voice, data and TV services for communication, entertainment and working. DNA is Finland's largest cable operator and the leading pay TV provider in both cable and terrestrial networks. Our mission is to provide products and services that make our private and corporate customers' lives simple. As a telecommunications operator, DNA plays an important role in society by providing important communication connections and by enabling digital development. DNA was ranked as Finland's best place to work in 2019 in the Great Place to Work survey’s large companies category. In 2018, our net sales were EUR 912 million and our operating profit EUR 139 million. DNA has more than 4 million subscriptions in its fixed and mobile communications networks. The Group also includes DNA Store, Finland's largest retail chain selling mobile phones. DNA shares are listed on Nasdaq Helsinki Ltd. For further information, visit www.dna.fi or follow us on Twitter @DNA_fi and Facebook.