• news.cision.com/
  • Componenta Oyj/
  • Componenta Corporation: Reverse split and thereto related redemption of shares to be executed on 18 December 2020
English

Componenta Corporation: Reverse split and thereto related redemption of shares to be executed on 18 December 2020

Report this content

Componenta Corporation, Stock Exchange Release, 9 December at 10:20

Componenta Corporation’s (”Componenta” or ”Company”) Extraordinary General Meeting held on 29 October 2020 resolved on reverse share split and thereto related redemption of shares to the effect that each fifty (50) shares of the Company are merged into one (1) share. Componenta’s Board of Directors has today, 9 December 2020, resolved that the reverse share split and thereto related redemption of shares will be executed on Friday 18 December 2020 (”Reverse Split Date”). The reverse share split will be executed in the book-entry system maintained by Euroclear Finland Oy after the close of trading on the Reverse Split Date.

Based on the authorization granted by the Extraordinary General Meeting of Componenta held on 29 October 2020, concurrently with the reverse share split and thereto related redemption of shares, a directed share issue will be executed in which Company’s new shares are conveyed without compensation to the effect that the number of shares in each shareholders’ book-entry account is made divisible by 50. The Board of Directors of the Company will resolve on the directed share issue without consideration separately  on the Reverse Split Date. Concurrently with the afore-mentioned conveyance of shares, the Company will on the Reverse Split Date redeem without compensation 49 shares for each 50 existing shares. The shares redeemed without compensation in connection with the reduction of number of shares will be cancelled immediately after the redemption. The reverse share split does not affect the Company’s equity.

The last day of trading on the official list of the Nasdaq Helsinki Ltd in Company’s shares (ISIN-code FI0009010110) before the reverse share split is 18 December 2020. The cancellation of shares related to the reverse share split and the Company’s new total number of shares issued will be registered in the Trade Register maintained by the Finnish Patent and Registration Office on or about 21 December 2020. Trading with the Company’s new total number of shares is expected to commence on the official list of Nasdaq Helsinki Ltd with a new ISIN-code (FI4000476783) on or about 21 December 2020. Componenta’s stock symbol CTH1V will remain the same after the reverse share split.

The reverse share split and thereto related directed share issue and redemption of shares will not require any measures from shareholders.

COMPONENTA CORPORATION

Sami Sivuranta
President and CEO

For further information, please contact:
Sami Sivuranta, President and CEO, tel. +358 10 403 2200
Marko Karppinen, CFO, tel. +358 10 403 2101

Componenta is an international technology company with operations located in Finland. With its wide technology portfolio, Componenta produces e.g. cast, machined and unmachined components for its clients who are local and global manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.