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Rovio Entertainment Corp.: Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Rovio Entertainment Corporation

Written by Customer Service on . Posted in Mergers And Acquisitions.

Rovio Entertainment Corporation        Stock Exchange Release        November 8, 2023 at 8.45 a.m. EET

Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Rovio Entertainment Corporation

Sega Europe Limited (“Sega”) has on September 1, 2023 applied for redemption proceedings in respect of Rovio Entertainment Corporation’s (“Rovio”) minority shares by submitting an application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Rovio. Sega served its application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 5 of the Finnish Companies Act on September 29, 2023.

Sega has been informed that the Redemption Board of the Finland Chamber of Commerce has appointed an arbitral tribunal consisting of three members for the arbitration proceedings concerning the redemption of the minority shares in Rovio. The arbitral tribunal consists of attorney-at-law Ulla Vuokila (chair), LL.M. (trained on the bench) Lauri Länsman and attorney-at-law Teemu Taxell.

ROVIO ENTERTAINMENT CORPORATION

More information:

Alexandre Pelletier-Normand

CEO

RovioIR@rovio.com

+358 40 730 3442

Distribution:

Nasdaq Helsinki Ltd

Key media

https://investors.rovio.com/en

About Rovio:

Rovio Entertainment Corporation is a global mobile-first games company that creates, develops and publishes mobile games, which have been downloaded over 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment, animations and consumer products in brand licensing. Rovio has produced The Angry Birds Movie (2016), and its sequel, The Angry Birds Movie 2 was released in 2019. The company offers multiple mobile games and has eight game studios – one in Espoo (Finland), one in Stockholm (Sweden), one in Copenhagen (Denmark), one in Barcelona (Spain), two in Montreal and one in Toronto (Canada). The studios also include a subsidiary in Izmir (Turkey) called Ruby Games, which was acquired in 2021. Most of the employees are based in Finland where Rovio is headquartered. The company’s shares are listed on the main list of NASDAQ Helsinki stock exchange with the trading code ROVIO. Sega Europe Limited has acquired more than 90 percent of Rovio’s issued and outstanding shares and will delist the company from NASDAQ Helsinki stock exchange as soon as permitted under applicable laws.

 

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