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Sponda Plc Stock Exchange Release December 5, 2017 at 15:50
Arbitral tribunal has confirmed Polar Bidco's redemption right over Sponda's minority shares and trading in the shares of Sponda has been suspended
The arbitral tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has in its interim award on December 5, 2017 confirmed that Polar Bidco S.à r.l. ("Polar Bidco") has the right to redeem the minority shares in Sponda Plc ("Sponda") and that Polar Bidco has the right to gain title to the minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.
Sponda has on October 19, 2017 applied for the termination of trading in the shares of Sponda and the delisting of its shares from the official list of Nasdaq Helsinki Ltd following the posting of the security. As a result of the interim award, Nasdaq Helsinki Ltd has suspended the trading in the shares of Sponda on December 5, 2017 at 15:03 (EET). Posting of the security and the delisting of Sponda's shares will be announced separately.
Sponda Plc
Board of Directors
Further information: Niklas Nylander, CFO, tel. +358 40 754 5961
Sponda in brief:
Sponda is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda's business concept is to own, lease and develop retail and office properties and shopping centers into environments that promote the business success of its clients. As at September 30, 2017, the fair value of Sponda's investment properties was approximately EUR 3.9 billion and the leasable area was approximately 1.2 million square meters.