The execution of the acquisition of Summa Defence Oy's share capital has begun, a new schedule
Summa Defence Ltd
Press release, free for publication on 30.5.2025 at 15:30 EEST
Meriaura Group Oyj (“Company”) announced on January 29, 2025, that it had signed a conditional share exchange agreement to acquire all shares of Summa Defence Oy, which brings together companies in the defense and security sector, through a share exchange (“Share Exchange”). The Share Exchange is part of a broader arrangement, which includes the sale of the shares of the Company’s subsidiary, Meriaura Oy, to Meriaura Invest Oy as well as the directed acquisition of the Company’s treasury shares from Meriaura Invest Oy. The arrangement was approved by the Company’s Annual General Meeting on April 24, 2025, authorizing the Company’s Board of Directors to decide on the execution of the arrangement.
The execution of the arrangement has begun, and the schedule for completing the transaction has been clarified. The conversions of the convertible bonds issued by Summa Defence Oy, as well as the other directed share issues and the acquisitions of Summa Defence Oy’s target companies (Aquamec Oy, Lännen Tractors Oy, Lännen MCE AB, Nordic Yards Oy and its subsidiary Uudenkaupungin Työvene Oy, IntLog Oy, and Lightspace Group, Inc. and its subsidiaries Lightspace Labs, Inc., SIA Lightspace Technologies, and Lightspace Labs LTD), all of which are prerequisites for the transaction, have not yet been completed. According to information from Summa Defence Oy, there are no known obstacles to initiating these actions. The ownership and financing arrangements of Aquamec Oy, which need to be completed before these actions, began today, May 30, 2025. Once finalized, the other actions to be carried out by Summa Defence Oy will commence immediately thereafter. These implementations are expected to be followed promptly by the Share Exchange and the completion of the whole arrangement, and trading in the new Company shares issued in the Share Exchange on the First North Growth Market Sweden and Finland will begin no later than June 11, 2025.
More information:
Jussi Holopainen, CEO
Phone: +358 44 517 4543
Email: jussi.holopainen@summadefence.com
Media contact:
Tommi Manninen, Chief Communications Officer
Phone: +358 400 437 515
Email: tommi.manninen@summadefence.com
Summa Defence in brief
Summa Defence is a Finnish defense and security technology group supporting industry growth and strengthening industrial production capacity amid geopolitical change. We focus on dual-use technologies related to situational awareness, mobility, and protection, benefiting the civilian, security, and defense sectors while enhancing comprehensive security, security of supply, and crisis management capabilities. www.summadefence.fi