Nordic Fibreboard AS Sells Stake in Trigon Property Development
Nordic Fibreboard's Strategic Share Sale
Nordic Fibreboard AS, through its subsidiary Nordic Fibreboard Ltd OÜ, has made a significant decision to divest its 17.88% stake, amounting to 804,552 shares, in the publicly listed company AS Trigon Property Development.
Details of the Transaction
Recently, Nordic Fibreboard Ltd OÜ finalized a sales agreement to transfer its ownership of shares in AS Trigon Property Development to Trigon Carbon Negative Agriculture OÜ. This transaction will execute at the closing price, which stood at 0.67 euros per share, culminating in a total sale amount of 539,049.84 euros.
Impact on Nordic Fibreboard
This strategic decision showcases Nordic Fibreboard's commitment to optimizing its asset portfolio, as the shares' participation in Trigon was not deemed crucial to its core business operatives. Therefore, the sale will not significantly affect Nordic Fibreboard Ltd OÜ's financials, including its profit, assets, or liabilities.
Compliance with Market Regulations
In compliance with the regulations enforced by the NASDAQ Tallinn Stock Exchange, the sale between Nordic Fibreboard Ltd OÜ and Trigon Carbon Negative Agriculture OÜ must be regarded as a transaction involving a related party. This governance is crucial to maintaining transparency in the market.
Ownership Structure
It’s noteworthy that Joakim Johan Helenius holds a significant stake, owning 68.86% of Nordic Fibreboard AS directly and 100% of Trigon Carbon Negative Agriculture OÜ indirectly. This interconnected ownership underlines the importance of related party transaction guidelines.
Transaction Completeness
The share sale is concluded under market terms, ensuring that all conditions align with standard market practices. This reinforces the integrity of both companies involved in the transaction.
Board Involvement
Members of the supervisory and management boards of Nordic Fibreboard AS have confirmed that they do not possess any additional personal interests in this transaction, reinforcing the ethical nature of the decision-making process.
Existing Agreements
AS Trigon Property Development and Nordic Fibreboard AS currently do not maintain any active agreements, further indicating a clean slate for this share divestiture.
Concluding Remarks
As Nordic Fibreboard AS moves forward with this strategic sale, stakeholders will likely be keen to observe the impacts on both Nordic Fibreboard and AS Trigon Property Development in the coming period.
Frequently Asked Questions
What prompted Nordic Fibreboard AS to sell its shares in Trigon Property Development?
The decision was made to optimize asset management, considering the shares were not vital for Nordic Fibreboard's core operations.
What was the total sale amount for the shares?
The shares were sold for a total amount of 539,049.84 euros at a price of 0.67 euros per share.
Who were the parties involved in the transaction?
The transaction involved Nordic Fibreboard Ltd OÜ selling its shares to Trigon Carbon Negative Agriculture OÜ.
How does this transaction relate to market regulations?
This sale is treated as a related party transaction under the rules set forth by the NASDAQ Tallinn Stock Exchange.
Are there any other interests from the supervisory board in this transaction?
No, members of the management and supervisory boards of Nordic Fibreboard AS have no other personal interests in this sale.
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