12/17/2019 | Press release | Distributed by Public on 12/17/2019 06:00
DNA PLC STOCK EXCHANGE RELEASE 17 December 2019, 14:00 pm EET
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As previously announced, Telenor Finland Holding Oy ('Telenor') has on 11 October 2019 commenced mandatory redemption proceedings in respect of DNA Plc's ('DNA') minority shares by applying for arbitration proceedings to be initiated in accordance with Chapter 18, Section 4 of the Finnish Companies Act in order to redeem the remaining shares in DNA.
The Redemption Board of the Finland Chamber of Commerce has today appointed an arbitral tribunal consisting of three arbitrators for the arbitration proceedings concerning the redemption of the remaining shares in DNA. The arbitral tribunal comprises chairman of the arbitral tribunal Seppo Villa, attorney-at-law Niina Palaja and attorney-at-law Markus Manninen.
DNA Plc is a Finnish telecommunications group providing high-quality voice, data and TV services for communication, entertainment and working. DNA is Finland's largest cable operator and the leading pay TV provider in both cable and terrestrial networks. Our mission is to provide products and services that make our private and corporate customers' lives simple. As a telecommunications operator, DNA plays an important role in society by providing important communication connections and by enabling digital development. DNA was ranked as Finland's best place to work in 2019 in the Great Place to Work survey's large companies category. In 2018, our net sales were EUR 912 million and our operating profit EUR 139 million. DNA has more than 4 million subscriptions in its fixed and mobile communications networks. The Group also includes DNA Store, Finland's largest retail chain selling mobile phones. DNA shares are listed on Nasdaq Helsinki Ltd. For further information, visit www.dna.fi or follow us on Twitter @DNA_fi and Facebook.