Klovern AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Arbitration Panel Confirms Klovern AB's Right to Redeem Minority Shares in Dagon AB
Klovern AB announced that the arbitration panel confirmed in an award announced in Stockholm on January 3, 2013 that Klovern was entitled, and is obliged, to redeem the remaining shares in Dagon, which are not owned by Klovern. The arbitration panel set the redemption amount that Klovern is to pay per Dagon share at SEK 80 with a supplement for interest at an amount corresponding to the reference rate from time to time with an addition of two percentage points from April 17, 2012 to March 8, 2013. Thereafter, interest will be paid at an amount corresponding to the reference rate from time to time with an addition of eight percentage points until payment has been made in full. The arbitration award has not been appealed against pursuant to Chapter 22, section 24, of the Swedish Companies Act and thus attained legal force on March 8, 2013. Klovern has decided to redeem all remaining shares in Dagon and will pay the redemption amount together with interest.
Latest Developments for Klovern AB
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