Arcam AB (publ) was delisted from Nasdaq Stockholm on 26 January 2018 and is no longer a public listed company. Following the delisting, the company will not update or publish financial information or other corporate information, other than as required by law.
GE Sweden Holdings AB (“GE”) holds more than 90 percent of the shares in Arcam and has initiated compulsory buy-out proceedings to buy-out all minority shares in Arcam.
For questions on the buy-out procedure and on corporate issues, please contact email@example.com
Information about the buy-out proceeding
According to Chapter 22 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)), a shareholder who holds more than nine-tenths of all shares in a company is entitled to acquire the remaining minority shares through compulsory buy-out proceedings (“the buy-out proceedings”). GE has initiated such buy-out proceedings through a letter to Arcam’s board of directors. The buy-out proceedings will be determined by arbitrators.
In the buy-out proceedings, the minority shareholders will be represented by a trustee who will be appointed by the Swedish Companies Registration Office. The trustee’s main objective is to protect the rights of the absent shareholders in the dispute.
The arbitral tribunal will be composed of three arbitrators. GE has appointed Claes Zettermarck as arbitrator. The trustee, once appointed, will appoint an arbitrator on behalf of the minority shareholders. Such arbitrator and GE’s appointed arbitrator will appoint the third arbitrator who will also act as chairman of the arbitral tribunal.
A minority shareholder who does not wish to be represented by the trustee is entitled to bring its own actions in the buy-out proceedings. Such a minority shareholder should contact the chairman of the arbitral tribunal in accordance with his or her instructions when the arbitral tribunal has been constituted. Once constituted, the arbitral tribunal will publish instructions regarding the buy-out proceeding in the Swedish Official Gazette (Sw. Post och Inrikes Tidningar) and Svenska Dagbladet. Such instructions will also be sent to the shareholders whose address is known to Arcam. Shareholders that wish to be represented by the trustee does not need to take any actions.
The price for the shares in Arcam in the buy-out proceeding will be determined by the arbitral tribunal in accordance with the provisions of the Swedish Companies Act.
In general, Arcam and GE will refer any questions from the minority shareholders to the trustee, once a trustee has been appointed.