Vacon Oyj: Danfoss has obtained ownership of all Vacon shares, and the shares are thus delisted

Vacon Plc, Stock Exchange Release, 15 May 2015 at 4.50 p.m. (EET)

Vacon plc ("Vacon") today received the following information from Oy Danfoss Ab ("Danfoss").

On 15 May 2015, Danfoss has posted the collateral required by the arbitral tribunal and hence obtained ownership of all Vacon shares in accordance with chapter 18, section 6 of the Finnish Limited Liability Companies Act.

Vacon's minority shareholders involved in the squeeze-out procedure after the collateral has been posted are entitled only to the redemption price and to the interest accruing thereon.

As per application by Vacon, NASDAQ OMX Helsinki Oy ("Helsinki Stock Exchange") has decided to delist Vacon shares from the Helsinki Stock Exchange after title to all Vacon shares has been transferred in the squeeze-out procedure to Danfoss. On 15 May 2015, the Helsinki Stock Exchange ceased trading on Vacon shares in connection with the delisting process and has today issued a release on the delisting of the share from the Helsinki Stock Exchange. The Vacon shares are listed for the last day on Friday 15 May 2015.

VACON PLC

Further information:

• Vesa Laisi, President and CEO, Vacon Plc, phone [phone], vesa.laisi(at)vacon.com
• Sebastian Linko, Director, Corporate Communications and Investor Relations, [phone], sebastian.linko(at)vacon.com

Vacon in brief

Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 32 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2014, Vacon's revenues amounted to EUR 409.4 million, and the company employed globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Vacon is part of Danfoss Group.

Driven by Drives, www.vacon.com

Distribution:

NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media

 

 

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vacon Oyj via Globenewswire

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