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Hoivatilat Plc: Hoivatilat Plc changes its financial reporting practice

08.04.2020 klo 14:00 Hoivatilat Plc: Hoivatilat Plc changes its financial reporting practice

Hoivatilat Plc

Stock exchange release
8 April 2020 at 2 pm EET

Hoivatilat Plc changes its financial reporting practice

Hoivatilat Plc ("Hoivatilat") will change its financial reporting practice and only publish a half year financial report and a financial statements bulletin in the future. Hoivatilat will therefore not publish the business review for January – March 2020 on 6 May 2020 or the business review for January – September 2020 on 4 November 2020, as previously announced.

Aureit Holding Oy ("Aureit Holding") has acquired through a public tender offer more than 90 per cent of all the issued and outstanding shares and votes in Hoivatilat. Aureit Holding has on 15 January 2020 commenced mandatory redemption proceedings in respect of Hoivatilat's minority shares by applying for arbitration proceedings to be initiated in accordance with Chapter 18, Section 4 of the Finnish Companies Act in order to redeem the remaining issued and outstanding shares in Hoivatilat.

Aureit Holding has announced that it intends to cause Hoivatilat to apply for delisting of its shares from Nasdaq Helsinki as soon as permitted and reasonably practicable under applicable laws and regulations. Consequently, the announcement of the half year financial report for January-June 2020 is subject to the timing of the delisting and will be published only if required under applicable laws and regulations.

Additional information

Jussi Karjula
CEO
Hoivatilat Plc
tel. +358 40 773 4054

Hoivatilat in brief
Hoivatilat Plc specialises in producing, developing, owning and leasing out nursing homes, day care centres, schools and service communities. Founded in 2008, the company has been working in cooperation with as many as 60 Finnish municipalities and has launched 200 property projects throughout Finland and in Sweden. www.hoivatilat.fi

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