Componenta Corporation’s ("Componenta" or "Company") Extraordinary General Meeting held on 29 October 2020 resolved on reverse share split and thereto related redemption of shares. Componenta’s Board of Directors resolved on 9 December 2020 that the reverse share split and thereto related redemption of shares will be executed on Friday 18 December 2020 (”Reverse Split Date”). The reverse share split was executed in the book-entry system maintained by Euroclear Finland Oy after the close of trading on the Reverse Split Date.
The reverse share split and thereto related directed share issue and redemption of shares did not require any actions from the shareholders.
The reverse share split and thereto related redemption of shares was executed so that each fifty (50) shares of the Company were merged into one (1) share. Concurrently with the reverse share split and thereto related redemption of shares, a directed share issue was executed in which Company’s new shares were conveyed without compensation to the effect that the number of shares in each shareholders’ book-entry account was made divisible by 50. Board of Directors of the Company resolved on the directed share issue without consideration separately on the Reverse Split Date.
Concurrently with the afore-mentioned conveyance of shares, the Company redeemed on the Reverse Split Date without compensation 49 shares for each 50 existing shares. The shares redeemed without compensation in connection with the reduction of number of shares were cancelled immediately after the redemption.
The reverse share split did not affect the Company’s equity.
Componenta’s stock symbol CTH1V remained the same after the reverse share split.