GEOSENTRIC UPDATES ITS GOING FORWARD PLAN GEOSEN
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GEOSENTRIC OYJ STOCK EXCHANGE RELEASE October 3, 2013 at 18:20
GEOSENTRIC UPDATES ITS GOING FORWARD PLAN
As announced on September 27, 2013 the listing of GeoSentric’s shares on NASDAQ OMX Helsinki Ltd. stock exchange has been terminated to end on October 28, 2013. The company confirms that it is no longer seeking to acquire any new business but instead will try to negotiate a deal with its key creditors that enable it to continue as a private limited liability company after the delisting. As a part of the deal GeoSentric would offer its approximately 24% holding in GeoSolutions Holdings N.V., the only substantial asset the company has, for sale against the current and future debt from the current key creditors. The company would also invite any other offers for this asset.
GeoSentric is planning to call an Extraordinary General Meeting to be held during October to resolve on matters that relate to delisting and related amendments to company’s Articles of Association as well as the proposed sale of its GeoSolution Holding N.V. shares to the highest bidder.
GEOSENTRIC OYJ
Board of Directors
Distribution:
NASDAQ OMX Helsinki
Principal news media
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