Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Nordic Lights Group Corporation

30.6.2023 09:30:00 EEST | Nordic Lights Group Oyj | Company Announcement

Nordic Lights Group Corporation COMPANY RELEASE   June 30, 2023 at 9.30 a.m. EEST

 

Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Nordic Lights Group Corporation  

 

Montana BidCo Oy ("Montana") has on May 4, 2023 applied for redemption proceedings in respect of Nordic Lights Group Corporation's ("Nordic Lights") minority shares by submitting an application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Nordic Lights. Montana served its application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 5 of the Finnish Companies Act on May 30, 2023.

 

Montana has been informed that the Redemption Board of the Finland Chamber of Commerce has appointed an arbitral tribunal consisting of one member for the arbitration proceedings concerning the redemption of the minority shares in Nordic Lights. The arbitral tribunal consists of attorney-at-law Niklas Lindström.

 

Further enquiries:

 

Tom Nordström, Chief Executive Officer, Nordic Lights, [e-mail],

Tel. [phone]

 

Certified Adviser:

Oaklins Merasco Ltd

Tel. [phone]

 

About Nordic Lights

 

Nordic Lights, based in Pietarsaari, Finland, has paved its way as a global premium supplier of high-quality lighting solutions for heavy-duty equipment in several demanding industrial sectors. Nordic Lights’ mission is to enable the safe and efficient use of equipment. With three decades of experience Nordic Lights works with the most demanding manufacturers of machinery from design to production and aftermarket support. Nordic Lights’ revenue in 2022 was EUR 82 million. The company employs around 300 employees globally. Nordic Lights’ share is listed on Nasdaq Helsinki’s First North marketplace. www.nordiclights.com

 

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