Efore reports on resolutions at EGM.
NORDIC BUSINESS REPORT-February 26, 2020-Efore reports on resolutions at EGM
(C)2020 M2 COMMUNICATIONS http://www.m2.com
Efore Oyj (HEL:EFO1V), a developer and producer of demanding power products, reported on Tuesday that at the Extraordinary General Meeting of the company, held on 25 February 2020, the EGM approved the proposal of the board of directors to amend paragraph 1 of the articles of association to read as '1 [section sign] Company name and domicile
The name of the company is Enedo Oyj and its parallel company name is Enedo Plc. The company's domicile is Vantaa.'
This amendment of the articles of association will come into force upon registration in the trade register.
Also, the EGM resolved on the proposal of the board of directors to reduce the company's registered share capital from EUR15,000,000 with EUR14,900,000 to EUR100,000 and that the reduced amount of EUR14,900,000 is transferred to the invested unrestricted equity fund.
This reduction of the share capital requires a public notice in accordance with the Companies Act. Efore's board makes all decisions regarding the practical measures related to the reduction of the share capital. This arrangement does not require any measures from the shareholders.
In addition, the EGM resolved on the proposal of the board of directors to decrease the quantity of shares without reducing the share capital. The company redeems from each shareholder, without compensation, a number of shares obtained by multiplying the number of shares held by each shareholder with a factor of 49/50 on the transaction day, or for every existing 50 shares, 49 shares shall be redeemed (the redemption ratio).
According to Efore, in order to avoid fractions of shares, it will transfer treasury shares in a directed share issue without compensation so that the number of shares in the book-entry account of each shareholder is made divisible by 50 on the transaction day. The maximum amount of treasury shares transferred by the company is 49 multiplied by the number of book-entry accounts on the transaction day in which the company's shares are held. The maximum amount...
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