Fiva outlined: Simula Invest’s public purchase offer for Soprano

The Financial Supervisory Authority has not granted Sopranolle the exemption it applied for Weather– regarding the arrangement. The exemption application was connected Simula Invest -company, which is to become Soprano’s largest shareholder after the Wetteri arrangement.

According to the press release published by Soprano, the Financial Supervisory Authority has decided on Thursday that Simula Invest will not receive an exemption from the obligation to offer. Instead, Fiva considers that Simula Invest has an obligation to offer Soprano’s shares in accordance with the Securities Market Act.

According to the Financial Supervisory Authority’s decision, Simula Invest must make a public takeover bid for Soprano by October 22. Simula Invest has bought Soprano’s shares at the highest price of EUR 0.82 per share, so the purchase offer must be executed at this price.

Soprano’s closing price on the Helsinki Stock Exchange was 0.615 euros on Thursday.

According to the press release published by Soprano, Simula Invest intends to follow the decision of the Financial Supervisory Authority.

No effect on the Wetteri arrangement

According to Soprano, the Financial Supervisory Authority’s decision has no effect on the business arrangement between Soprano and Wetter, but the implementation of the arrangement will continue.

Soprano and Wetteri said in June that they had agreed on a merger through a share exchange agreement.

By Editor

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