Neles and Valmet confirm April 1 merger completion date

Merger of Neles Corporation and Valmet Oyj will be completed; Valmet’s listing application has been approved and trading in the new shares will commence on April 1, 2022

Neles Corporation (“Neles”) and Valmet Oyj (“Valmet”) announced on July 2, 2021 that Neles and Valmet will merge creating a leading company with a unique offering for process industries globally (the “Merger”).

The extra distribution of funds of Neles, as announced on March 22, 2022, having been executed today on March 31, 2022 and all the conditions to completion of the Merger having thus been fulfilled or waived, Neles and Valmet confirm that the completion of the Merger will be registered at the Finnish Trade Register on April 1, 2022.

The total of 34,664,986 new shares in Valmet to be issued as merger consideration to Neles’ shareholders in connection with the Merger will be registered at the Finnish Trade Register and on the book-entry accounts of Neles’ shareholders on April 1, 2022.

Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) has approved the listing application of Valmet concerning the new shares. Trading in 34,664,986 new shares to be admitted to trading on the official list of Nasdaq Helsinki under the trading code VALMT (ISIN code: FI4000074984) will commence on April 1, 2022. The last day of trading and listing of the shares in Neles on Nasdaq Helsinki is March 31, 2022.

Neles’ interim report for the period from January 1, 2022 to March 31, 2022 is intended to be published by Valmet on April 27, 2022. Neles’ financial statements for the said period and other material related to Neles’ final accounts will be published having been finalized approximately during May-June, after which Neles’ shareholders will be invited to a shareholders’ meeting to adopt the final accounts.


News Category:

Other News Items