Pallas Air did not discharge its ex-CEO

Known for its face masks Pallas Air (former Live Air) did not grant discharge from liability to all persons who worked on the company’s board of directors and in management positions last year.

Pallas Air’s general meeting, held earlier today, decided that the ex-CEO of the company will not be released from liability for the last financial year Vesa to Mäkipää and not for ex-members of the board For Eppu Mäkipää and Sami Rahnasto.

At the general meeting, the main owner of Pallas Air presented the issue Michael Renton representative. Rentto directly owns and Rentto Oy:n through today the majority of Pallas Air’s share capital.

Pallas Air told in March, that it has become aware that the police are investigating a possible breach of information within the company, where Vesa Mäkipää, among others, has been heard as a suspect in the crime.

A reverse split is coming

Pallas Air also decided at its general meeting to carry out a reverse split for its shares, which practically reduces the number of shares in the company. Split unification date is June 27.

The reverse share split will be implemented so that 100 current Pallas Air shares correspond to one new share in the future. If the shareholder does not have a number of shares divisible by 100, the shareholder will receive enough shares free of charge just before the split that the reverse split can be carried out.