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

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

The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce in connection with the redemption proceedings concerning the minority shares in Purmo Group Plc ("Purmo Group") has in its interim decision issued today confirmed that Project Grand Bidco (UK) Limited ("Project Grand Bidco") has the right to redeem the minority shares in Purmo Group, and that Project Grand Bidco has the right to obtain title to the minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.

Purmo Group announced on December 5, 2024 that the Board of Directors of Purmo Group has resolved to apply for the termination of public trading in the shares of Purmo Group and for the delisting of its shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) so that the delisting in respect of the Purmo Group shares admitted to trading on the official list of Nasdaq Helsinki would become effective as soon as possible upon Project Grand Bidco having gained title to all the shares in Purmo Group in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act.

Following the confirmation of Project Grand Bidco’s redemption right, Nasdaq Helsinki has suspended trading in the Purmo Group shares today on January 13, 2025 before the opening of trading. The possible posting of the security and the delisting of the Purmo Group shares will be announced separately.

More information:

Purmo Group

Jan-Elof Cavander
Chief Financial Officer
investors@purmogroup.com

Distribution:
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com

About Purmo Group:
Purmo Group is at the centre of the global sustainability journey by offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. We provide complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 2,760 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to our over 100,000 customers in more than 100 countries. Purmo Group’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.