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Klovern AB Announces Appointment of Arbitration Panel for Buy-Out of Minority Shares in Dagon AB

Tuesday, 6 Nov 2012 04:24am EST 

Klovern AB announced that on July 17, 2012, the Swedish Companies Registration Office appointed attorney Stefan Kamlin as trustee for the minority shareholders in Dagon. An arbitration panel has been appointed to consider the matter of buying out the shares. The panel consists of attorney-at-law Viktor Magnell, appointed by Klovern, attorney-at-law Lars Millberg, appointed by the trustee, and former Justice of the Supreme Court, Hans Danelius, who will also chair the panel, appointed by the other two arbitrators. If the arbitration panel finds that Klovern is entitled to a buy-out, the panel shall determine the price to be paid for the minority shareholders' shares in Dagon. Interest shall be paid on this amount. Klovern may request advance vesting of title to the shares. Such a request may be granted only if there is entitlement to a buy-out, and security, approved by the arbitration panel, has been provided for the future purchase price and interest. If advance vesting of title is granted, a claim may also be made for advance payment to the shareholders of amounts approved by Klovern. 

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