Suunto shares' redemption price confirmed as EUR 11.50
2000-05-19, 10:00
In a decision dated 19 May 2000 The Arbitral Tribunal confirmed the Suunto minority shares redemption price as EUR 11.50 per share.
The price is the same as that offered by Amer Group in the public offer for Suunto Oyj's shares from 10 December 1999 to 10 January 2000 as well as in the redemption offer thereafter. An annual interest rate of 4 1/2% will be paid in respect of the redemption price from 21 March 2000 until the redemption price has gained legal force.
The redemption price will be paid to Suunto's minority shareholders as soon as the arbitral award regarding the redemption price has gained legal force. The arbitral award will be sent to those Suunto shareholders as at 23 March 2000 who were not present in the last session of the Arbitral Tribunal. Acccording to the Companies' Act a shareholder who is not satisfied with the redemption price may submit the matter to court for consideration within two months of the receipt of the notice regarding the arbitral award.
Amer Group acquired title to all Suunto's shares on 21 March 2000 upon placement of the security approved by the Arbitral Tribunal to cover redemption payments for the minority shares in Suunto. All Suunto's shares were transferred to Amer Group Plc on 24 March 2000.
AMER GROUP PLC
Communications Department
Marja-Leena Simola
Vice President, Communications
Tel. +358 9 7257 8306
Fax +358 9 791 385
E-mail marja-leena.simola@amer.fi
For further information, please contact:
Mr Pekka Paalanne, Senior Vice President & CFO, Tel. +358 9 7257 8212
Mr Jari Melgin, Corporate Treasurer, tel. +358 9 7257 8233
The price is the same as that offered by Amer Group in the public offer for Suunto Oyj's shares from 10 December 1999 to 10 January 2000 as well as in the redemption offer thereafter. An annual interest rate of 4 1/2% will be paid in respect of the redemption price from 21 March 2000 until the redemption price has gained legal force.
The redemption price will be paid to Suunto's minority shareholders as soon as the arbitral award regarding the redemption price has gained legal force. The arbitral award will be sent to those Suunto shareholders as at 23 March 2000 who were not present in the last session of the Arbitral Tribunal. Acccording to the Companies' Act a shareholder who is not satisfied with the redemption price may submit the matter to court for consideration within two months of the receipt of the notice regarding the arbitral award.
Amer Group acquired title to all Suunto's shares on 21 March 2000 upon placement of the security approved by the Arbitral Tribunal to cover redemption payments for the minority shares in Suunto. All Suunto's shares were transferred to Amer Group Plc on 24 March 2000.
AMER GROUP PLC
Communications Department
Marja-Leena Simola
Vice President, Communications
Tel. +358 9 7257 8306
Fax +358 9 791 385
E-mail marja-leena.simola@amer.fi
For further information, please contact:
Mr Pekka Paalanne, Senior Vice President & CFO, Tel. +358 9 7257 8212
Mr Jari Melgin, Corporate Treasurer, tel. +358 9 7257 8233