Arbitral Tribunal Has Confirmed Coronaria Oy's Redemption Right to Silmäasema Oyj's Shares and Trading in Silmäasema’s Shares Has Been Suspended
Silmäasema Oyj
Stock Exchange Release – Tender Offer
28 April 2020 at 9:50 a.m. EEST
The Arbitral Tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has on 27 April 2020 confirmed that Coronaria Oy (“Coronaria”) has the right to redeem the minority shares in Silmäasema Oyj (“Silmäasema”) and that Coronaria has the right to obtain title to the minority shares by posting a security approved by the Arbitral Tribunal for the payment of the redemption price and the interest accruing thereon.
Silmäasema has on 16 April 2020 submitted a delisting application to Nasdaq Helsinki Ltd concerning its shares. Silmäasema has requested in the application that the quotation of its shares on the official list of Nasdaq Helsinki Ltd be terminated as soon as possible upon Coronaria having gained title to all the shares in Silmäasema in the redemption proceedings.
Pursuant to the confirmation of Coronaria's redemption right, Nasdaq Helsinki Ltd has terminated public trading in Silmäasema’s shares today at 9:02 a.m. The posting of the security and the subsequent delisting of Silmäasema’s shares will be announced through a separate stock exchange release.
SILMÄASEMA OYJ
For further information, please contact:
CEO Teppo Lindén, tel. +358 400 684 119
Head of Communications and Investor Relations, Niina Streng, tel. +358 50 322 5195
Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. Silmäasema is the largest private eye clinic provider offering eye surgeries and the second largest optical retail chain in Finland. The Silmäasema chain has nearly 150 stores and 13 eye clinics in Finland as well as eight stores in Estonia. The Silmäasema chain employs approximately 1,000 eye healthcare professionals. The Silmäasema Group’s net sales were EUR 131.1 million in 2019 and adjusted EBITDA was EUR 21.5 million.