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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: Directors Deals Ltd.

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Teleste Oyj Acquires All Shares in Teleste Management Oy

Tuesday, 7 May 2013 03:00am EDT 

Teleste Oyj announced that in March 2010, the members of the Teleste Management Group established a company named Teleste Management Oy. Teleste Management Oy subscribed for 381,000 Teleste Corporation shares in a share issue directed by Teleste Corporation. The acquisition was financed by the management’s capital investments, in the total amount of EUR 290,000, as well as by a loan in the amount of EUR 1,160,000 provided by Teleste Corporation. The shareholders of Teleste Management Oy and Teleste Corporation have agreed on a share swap where the management’s ownership will become a direct ownership in Teleste Corporation. In the share swap, Teleste Corporation will acquire all the shares in Teleste Management Oy, and the shareholders of Teleste Management Oy will receive shares in Teleste Corporation in return. To implement the share swap, the Board of Directors of Teleste Corporation has decided on a directed share issue in which the Company offers, in derogation from the shareholders’ pre-emptive subscription rights, 113,331 Teleste Corporation shares held by the Company to the shareholders of Teleste Management Oy against share consideration.