The arbitral tribunal has confirmed PPG Finland Oy's redemption right regarding Tikkurila Oyj's minority shares and trading in the shares of Tikkurila Oyj has been suspended
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today confirmed that PPG Finland Oy has the right to redeem the minority shares in Tikkurila Oyj (“Tikkurila” or the “Company”) and that PPG Finland Oy has the right to obtain title to the minority shares by lodging a security approved by the arbitral tribunal for the payment of the redemption price and the possible interest accruing thereon.
As previously announced, Tikkurila has on 9 September 2021 submitted an application for the delisting of its shares from the official list of Nasdaq Helsinki Ltd. (“Nasdaq Helsinki”). The application requests that the removal of the shares of Tikkurila on the official list of Nasdaq Helsinki will become effective as soon as possible upon PPG Finland Oy having gained title to all of the shares in Tikkurila in the redemption proceedings.
As a result of the confirmation of PPG Finland Oy's right of redemption, Nasdaq Helsinki has suspended trading in the shares of Tikkurila today at 11:44 EEST. The posting of the security and the delisting of the shares of Tikkurila will be announced separately.
Nasdaq Helsinki Ltd
Main news media
For further information, please contact:
Sanna Lehti, General Counsel
tel. +358 40 511 1757
Tikkurila offers decorative paints for consumers and professionals for surface protection and decoration. In addition, the Company produces paints and coatings for the metal and wood industries.
Tikkurila’s business highlights high-quality and long-term product development and considerable marketing investments. The Company’s brands include, among others, Tikkurila, Beckers, Alcro, Teks, and Vivacolor. Tikkurila uses the Beckers brand only in its decorative paints in Scandinavian countries as well as in some parts of Eastern Europe under a license from Aktiebolaget Wilh. Becker, obtained in conjunction with its acquisition of Alcro-Beckers AB in 2001. Important factors in the Company’s operations include a functioning and extensive distribution network, diverse services and an efficient supply chain. Tikkurila has seven (7) production facilities in six (6) countries and around two thousand four hundred (2,400) employees. Tikkurila’s products are available in more than forty (40) countries. Further information about Tikkurila may be found from the following website www.tikkurilagroup.com.