SRV GROUP PLC STOCK EXCHANGE RELEASE 6 May 2022 AT 11.25 EEST
SRV plans a reverse split
SRV Group Plc published on 28 April 2022 a programme to reorganise its balance sheet to reinforce its equity and announced that it will summon an extraordinary general meeting to be held on or about 30 May 2022 (the “EGM”), for which the board of directors will propose to issue sufficient authorisations for the execution of issuances required under the programme.
The board of directors is, in addition, in connection with the programme, planning to reduce the number of the company’s shares through a combination of shares (so called reverse split) so that for each 40 existing shares of the company 39 shares will be redeemed. The purpose of the reverse split is to facilitate trading in the company’s shares by increasing the value of an individual share and to contribute to the shares’ efficient price formation. The reverse split requires a resolution by the general meeting.
The company’s board of directors intends to include a proposal on the reverse split on the agenda of the EGM to be summoned. The company will publish in connection with the EGM notice a more detailed proposal for the execution of the reverse split and related authorisations and decisions.
SRV Group Plc
The Board of Directors
For further information, please contact:
Anu Tuomola, SVP, General Counsel, tel. +358 (0)50 4143 280, email@example.com
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SRV in brief
SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.
Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2021, our revenue totalled EUR 932.6 million. In addition to about 1,000 SRV employees, we have a network of around 3,600 partners.
SRV – Building for life