Key Outcomes from Nordic Fibreboard AS Extraordinary Meeting
NORDIC FIBREBOARD AS Extraordinary General Meeting Insights
NORDIC FIBREBOARD AS recently conducted an Extraordinary General Meeting of shareholders in its office, where essential decisions for the future of the company were discussed. This gathering is vital for addressing shareholder interests and setting the direction for upcoming initiatives.
Overview of the Meeting
The meeting commenced promptly at 10:00 AM and concluded by 10:40 AM, allowing for a structured discussion and efficient decision-making process. The company, with a total of 4,499,061 votes, achieved robust participation, with 3,767,242 votes—representing 83.73% of its share capital—present at the meeting.
A total of five shareholders attended, four of whom were represented by proxy, ensuring a diverse range of opinions and insights.
Key Decisions Made
Multiple crucial decisions shaped the future of NORDIC FIBREBOARD AS:
1. Merger with Pärnu Riverside Development OÜ
The Supervisory Board proposed a merger between NORDIC FIBREBOARD AS and Pärnu Riverside Development OÜ. The agreement was approved unanimously, with all votes represented supporting the motion. This merger signifies a strategic step for the company, consolidating resources and operations. Upon completion, Pärnu Riverside Development OÜ will cease to exist, and NORDIC FIBREBOARD AS will take over its legal standing.
2. Conditional Increase of Share Capital
The next notable decision involved a proposal to conditionally increase the company's share capital by 400,000 euros. This increase aims to facilitate a public offering of shares, helping NORDIC FIBREBOARD AS to raise essential funds for future projects and sustain operations amidst market challenges. The new share capital will stand at 849,906.1 euros post-increase, with existing shareholders receiving preemptive rights proportional to their holdings.
The Supervisory Board noted that the company is currently facing financial hurdles due to market conditions, hence this increase is vital for ongoing production and investments.
3. Admission of New Shares for Trading
The final decision involved applying for the admission of new shares to the additional list of the Nasdaq Tallinn Stock Exchange. This move aims to enhance visibility and availability of the company's shares, paving the way for broader investor engagement.
Each of these decisions showcases the commitment of NORDIC FIBREBOARD AS to transparency and strategic growth. The unanimous support from voters reflects confidence in the company’s vision and plans for the future.
Future Outlook
The outcomes of this Extraordinary General Meeting are significant, indicating a robust plan for NORDIC FIBREBOARD AS. Merging operations aims to enhance efficiency, while the conditional capital increase will provide necessary funds for upcoming challenges. The management remains focused on navigating current market conditions and optimizing shareholder value.
As the company moves forward, it will continue to keep stakeholders informed about its performance and strategic decisions. The upcoming public offering also brings an opportunity for existing shareholders to increase their investment and welcomes more participants to join the initiative.
Contact Information
For further inquiries or details regarding the meeting or the company’s operational strategies, shareholders and interested parties may reach out directly to:
Enel Äkke
Member of the Management Board
Phone: +372 55 52 5550
Email: group@nordicfibreboard.com
Frequently Asked Questions
What were the main decisions made at the meeting?
The meeting approved a merger with Pärnu Riverside Development OÜ, a conditional increase of share capital, and the admission of new shares to trading.
How will the merger affect NORDIC FIBREBOARD AS?
The merger aims to consolidate resources and improve operational efficiency, ultimately leading to enhanced company performance.
What is the purpose of the conditional increase of share capital?
This increase is intended for a public offering, allowing the company to raise funds needed for investments and address liquidity challenges.
When will the public offering of shares begin?
The subscription and payment period for the new shares will run from September 12 to September 26, 2025.
Who is eligible to participate in the conditional increase?
Only existing shareholders of NORDIC FIBREBOARD AS will have preemptive subscription rights based on their shareholding proportions.
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