Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of the minority shares in Basware Corporation
Basware Corporation, stock exchange release, 30 September 2022 at 4:00 p.m. EEST
Sapphire BidCo Ltd ("Sapphire BidCo") has on 27 July 2022 applied for redemption proceedings in respect of Basware Corporation's ("Basware") 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 Basware. Sapphire BidCo 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 26 August 2022.
Sapphire BidCo has today 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 Basware. The arbitral tribunal consists of independent arbitrator Mika Savola.
For more information, please contact:
Teemu Ruikka, General Counsel, Basware Corporation
Tel.+358 40 548 9848, teemu.ruikka@basware.com
Distribution:
Nasdaq Helsinki
Main media
investors.basware.com/en
About Basware:
Basware is a leading provider of Networked Procure-to-Pay solutions with the largest open e-invoicing network in over 180 countries. Our cloud-based technology enables enterprises to fully manage their spend, mitigate financial risk and reduce operating costs through automation of finance, procurement, accounts payable and accounts receivable processes. Our open technology ecosystem and extensive partner network have helped over 6,500 businesses in 60 countries move towards 100% spend visibility which enables better business decisions – a concept we call Visible Commerce. Basware’s solutions support the transition to a lower-carbon economy by digitization and automation. Basware is traded on the Helsinki exchange (BAS1V: HE). Find out more at https://investors.basware.com/en.
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