Redemption proceedings of minority shares of Purmo Group Plc

16 August 2024
Project Grand Bidco (UK) Limited to commence redemption proceedings in respect of the remaining minority shares in Purmo Group Plc

17 September 2024
Trustee appointed for the arbitration proceedings concerning the redemption of minority shares in Purmo Group Plc

30 October 2024
Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Purmo Group Plc

5 December 2024
Purmo Group Plc applies for the delisting of its shares from the official list of Nasdaq Helsinkiry

13 January 2025
The arbitral tribunal has confirmed Project Grand Bidco (UK) Limited’s redemption right over the minority shares in Purmo Group Plc, and trading in the Purmo Group shares has been suspended

14 January 2025
Project Grand Bidco (UK) Limited has gained title to the minority shares in Purmo Group Plc, and the Purmo Group shares will be delisted from the official list of Nasdaq Helsinki

A statement of claim

Project Grand Bidco (UK) Limited (“Project Grand Bidco“) has submitted a statement of claim to the arbitral tribunal on November 22, 2024. On November 22, 2024, Project Grand Bidco has also delivered a copy of the statement of claim and an instruction letter of the arbitral tribunal for mailing to all minority shareholders of Purmo Group Plc, whose name and address are known to the company. The minority shareholders are not required to submit an answer to the statement of claim, but minority shareholders may, if they so choose, submit their written answers to the statement of claim, if any, by December 20, 2024, in the manner further described in the instruction letter of the arbitral tribunal.