The arbitral tribunal has confirmed Anton Holding II Oy’s redemption right regarding Avidly Plc’s minority shares

22.3.2023 19:15:01 EET | Avidly Oyj | Company Announcement

The arbitral tribunal has confirmed Anton Holding II Oy’s redemption right regarding Avidly Plc’s minority shares

Avidly Plc, Company announcement, 22 March 2023 at 7:15 p.m. (EET)

The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today on 22 March 2023 confirmed that Anton Holding II Oy (“Anton Holding II”) has the right to redeem the minority shares in Avidly Plc (“Avidly”) and that Anton Holding II has the right to obtain title to the minority shares by placing a security approved by the arbitral tribunal for the payment of the redemption price and the interest possibly accruing thereon.

On 28 February 2023, Avidly announced that the Board of Directors of Avidly has submitted an application to Nasdaq Helsinki Ltd for the removal of Avidly’s shares from public trading and for delisting of the shares from First North Growth Market Finland (“First North”). In the application, it is requested that the removal of Avidly’s shares from the public trading and the delisting of the shares from First North would become effective as soon as possible after Anton Holding II has as part of the redemption proceedings obtained title to all the issued and outstanding shares in Avidly by placing a security referred to in Chapter 18, Section 6 of the Finnish Limited Liability Companies Act and approved by the arbitral tribunal.

The title to the minority shares in Avidly is transferred to Anton Holding II once a security approved by the arbitral tribunal has been placed, which is expected to take place on or about 23 March 2023. Following the placing of the security and the transfer of ownership, the current minority shareholders of Avidly are entitled to receive only the redemption price and the possible interest payable thereon. Nasdaq Helsinki Ltd will issue a separate release regarding the delisting of Avidly’s shares from First North. After the delisting from First North has taken place, Avidly is no longer subject to the periodic reporting obligation set out in applicable laws and regulations, and will thereby not publish a half year report or other periodic financial reporting from the ongoing or future reporting periods.

Additional information:

Jesse Maula

CEO

[e-mail]

[phone]

Certified Adviser: Oaklins Merasco Ltd, tel. [phone]

Avidly in brief

Avidly is a leading Nordic-based marketing technology (MarTech) service provider with its shares trading on Nasdaq First North Helsinki. In Avidly’s MarTech offering, customer experience, data and technology are closely entwined into its impact-driven growth strategy. Avidly partners with organizations of all sizes, from start-ups to Fortune 500 companies and is committed to creating solutions that help companies to grow. Avidly has a team of approximately 280 MarTech professionals in 18 locations in Finland, Sweden, Norway, Denmark, Germany, the UK and Canada.

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