OKMETIC OYJ STOCK EXCHANGE RELEASE 15 SEPTEMBER 2016 AT 9.30 A.M.
NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER OR SUCH RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW OR REQUIRE OFFER DOCUMENTS, REGISTRATION OR OTHER MEASURES IN ADDITION TO THOSE REQUIRED UNDER FINNISH LAW.
OKMETIC OYJ APPLIES FOR DELISTING OF ITS SHARES FROM THE OFFICIAL LIST OF NASDAQ HELSINKI
Okmetic Oyj's ("Okmetic") Board of Directors has decided to apply for the termination of public trading in Okmetic's shares and for the delisting of all Okmetic's shares from the official list of Nasdaq Helsinki Ltd ("Nasdaq Helsinki").
NSIG Finland S.à r.l. ("NSIG Finland"), a wholly-owned indirect subsidiary of National Silicon Industry Group ("NSIG"), owns approximately 97.43 percent of all the shares and votes in Okmetic (excluding the treasury shares held by Okmetic). NSIG Finland has initiated redemption proceedings in accordance with Chapter 18 of the Finnish Limited Liabilities Companies Act in order to redeem all the remaining shares in Okmetic held by the minority shareholders.
Provided that the arbitral tribunal appointed for the redemption proceedings confirms that NSIG Finland's redemption right is clear, NSIG Finland is entitled to gain title to all the shares in Okmetic held by the minority shareholders against the placing of a security approved by the arbitral tribunal for the payment of the redemption price.
Okmetic has today submitted an application to Nasdaq Helsinki concerning delisting of its shares from the official list. In the application Okmetic requests that the quotation of Okmetic's shares on the official list of Nasdaq Helsinki be terminated as soon as possible upon NSIG Finland having gained title to all the shares in Okmetic that are not owned by Okmetic or any of its subsidiaries in the redemption proceedings.
For further information, please contact:
Kai Seikku, President
Tel. +358 9 5028 0232, e-mail: [email protected]
Okmetic supplies tailored, high value-added silicon wafers to be used in the manufacture of sensors as well as discrete semiconductors and analog circuits. Okmetic's strategic objective is profitable growth driven by a product portfolio designed to meet customers' current and future technology needs. The core of the company's operations is being genuinely close to the customers and understanding their needs and processes.
Okmetic's global sales network, extensive portfolio of high value-added products, in-depth knowledge of crystal growing, long-term product development projects, as well as efficient and flexible production create prerequisites for achieving the strategic targets. The company's headquarters is located in Finland, where the majority of the company's silicon wafers is manufactured. In addition to in-house manufacture, Okmetic has contract manufacturing in Japan and China. Okmetic's shares are listed on Nasdaq Helsinki Ltd under the code OKM1V. For more information on the company, please visit our website at www.okmetic.com.
NSIG is a limited liability company organized under the PRC laws. The registered office of NSIG is in Shanghai, China.
Established in 2015, NSIG is a China-based holding group that is engaged in the investment and development of semiconductor materials and equipment industry with a registered capital of RMB 2 billion (approximately EUR 272 million). NSIG's mission is to establish a major industrial player in the global semiconductor sector (especially silicon and its ecosystems) through both PRC domestic investments and outbound mergers and acquisitions.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Okmetic Oyj via Globenewswire