Metso Corporation has gained title to all the shares in Tamfelt Corp.
Metso Corporation's Company release on May 4, 2010 at 4:45 p.m. local time
The Arbitral Tribunal appointed by the Redemption Committee of the Central
Chamber of Commerce of Finland has today by its decision confirmed that Metso
Corporation has the right to redeem about 2 percent minority shares in Tamfelt
Corp. and that Metso has the right to obtain title to the minority shares in
Tamfelt by lodging a security approved by the Arbitral Tribunal for the payment
of the redemption price and the interest accruing thereon.
Metso has today lodged the security of EUR 5.5 million approved by the Arbitral
Tribunal and, therefore, gained title to all the shares in Tamfelt in accordance
with Chapter 18, Section 6 of the Finnish Companies Act. After lodging the
security, the minority shareholders of Tamfelt being parties to the redemption
proceedings are entitled to receive the redemption price and the interest
payable thereon.The redemption price and the interest thereon is estimated to be
confirmed by the arbitral award in June 2010, at the earliest. Metso will pay
the redemption price within a month after the arbitral award has become legally
binding, which is estimated to take place in August 2010 the earliest.
Upon application by Tamfelt, NASDAQ OMX Helsinki Ltd (the Helsinki Stock
Exchange) has decided that the shares in Tamfelt will be delisted from the
official list of the Helsinki Stock Exchange when title to all shares in Tamfelt
has been transferred to Metso. The trading and the listing of the Tamfelt shares
on the Helsinki Stock Exchange will therefore cease in accordance with a
separate release to be published by the Helsinki Stock Exchange.
Metso is a global supplier of sustainable technology and services for mining,
construction, power generation, automation, recycling and the pulp and paper
industries. We have about 27,000 employees in more than 50 countries.
Further information, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel.
+358 20 484 3253
Executive Vice President and CFO
Vice President, Investor Relations
NASDAQ OMX Helsinki Ltd