Valoe Coproration Stock Exchange Release 24 June 2015 at 21.50 Finnish time
FTTK HAS INFORMED VALOE CORPORATION THAT IS HAS SUBMITTED A REQUEST FOR ARBITRATION
Valoe Corporation has been informed by FTTK Company Limited ("FTTK") that FTTK has submitted a request for arbitration. The arbitration concerns the transaction between the companies in which the ownership of 30 percent of the shares of Cencorp Automation Oy will be transferred and a dispute relating to that. In the request the claimant requests the arbitration to confirm that the transaction has been closed and the title to the shares has been transferred to FTTK as the purchase price has been fully paid. Valoe denies the claims as groundless and views that the transaction will not be closed until the other conditions pursuant to the the Share Transfer Agreement have been fulfilled. Valoe will claim its legal costs and other possible damages in full from FTTK.
In Mikkeli 24 June 2015
Valoe Corporation
Board of Directors
For more information:
Iikka Savisalo
President and CEO, Valoe Corporation
Tel. +358 40 521 6082,
Email: iikka.savisalo@valoe.com
Distribution:
NASDAQ OMX, Helsinki
Main media
www.valoe.com
Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.