Trustee appointed for the arbitration proceedings concerning the redemption of minority shares in Purmo Group Plc

Project Grand Bidco (UK) Limited (“Project Grand Bidco”) has, by submitting an application to the Redemption Board of the Finland Chamber of Commerce dated August 23, 2024, commenced redemption proceedings in respect of Purmo Group Plc's (“Purmo”) minority shares by initiating 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 Purmo.

Due to Project Grand Bidco's application for the above-mentioned arbitration proceedings, the Redemption Board of the Finland Chamber of Commerce has petitioned the District Court of Helsinki for the appointment of a trustee to supervise the interests of Purmo's minority shareholders during the redemption process. The Redemption Board of the Finland Chamber of Commerce has notified Project Grand Bidco that the District Court of Helsinki has, with its decision given on September 16, 2024, appointed Jasse Ritakallio to act as such trustee.

Project Grand Bidco's notice, as referred to in Chapter 18, Section 5, Subsection 2 of the Finnish Companies Act, is attached to this release as Appendix 1 and is available on the website of Purmo at https://investors.purmogroup.com/redemption-proceedings-of-minority-shares-of-purmo-group-plc/. It will also be published in the National Official Journal of Finland (Virallinen lehti in the Finnish language) without delay.

More information:

Purmo Group

Katariina Kataja
Head of Investor Relations
Tel. +358 40 527 1427
katariina.kataja@purmogroup.com

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

ABOUT PURMO

Purmo is a public limited liability company incorporated under the laws of Finland with its C Shares listed on the official list of Nasdaq Helsinki. Purmo 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. Purmo provides 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. Purmo’s mission is to be the global leader in sustainable indoor climate comfort solutions. Purmo’s approximately 2,950 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to its over 100,000 customers in more than 100 countries. Purmo’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.

Appendices:
Appendix 1 – Notice under the Finnish Companies Act on redemption claim regarding minority shares