Business News
Metso received confirmation of redemption price of shares in Tamfelt Corp.
Wednesday 16. June 2010 - Metso gained the title to all the shares in Tamfelt on May 4, 2010 when it lodged the security approved by the Arbitral Tribunal for the payment of the redemption price and the interest accruing thereon.
The Arbitral Tribunal appointed by the Redemption Committee of the Central Chamber of Commerce of Finland has today with its arbitral award confirmed that the redemption price of the shares in Tamfelt Corp. (currently, Metso Fabrics Inc.) is EUR 7.17 per share. The total number of Tamfelts shares to be redeemed is 600,937 shares, that is, approximately 2 percent of the shares in Tamfelt. Metso will pay the redemption price and the interest accrued thereon to the minority shareholders of Tamfelt within one month after the arbitral award has become legally binding, which is estimated to take place in the second half of August 2010.
The arbitral award becomes legally binding after 60 days of its registration with the Finnish Trade Register, assuming that no appeal is filed against it.