De-mutualisation and merger within the Alandia Insurance Group
Further to our announcements of 25 February 2014 and 12 June 2014, a second general meeting of Redarnas Ömsesidiga Försäkringsbolag (“RÖF”, Finnish business identity code 0145065-2) has today approved the de-mutualisation and merger plan to reorganise RÖF into a limited liability insurance company and to merge RÖF with its wholly owned insurance subsidiary Försäkringsaktiebolaget Alandia (”Alandia”, 0205048-2). RÖF is an Åland-based shipowners’ mutual insurance company and parent company of the Alandia Insurance Group. In the merger RÖF is the acquiring company and Alandia the acquired company.
Implementation of the plan requires additional consent from the Finnish Financial Supervisory Authority in compliance with the Insurance Companies Act, Chapter 19, Section 5 and Chapter 22, Section 4. According to the plans, the process will be carried out in such a way that both the change in the legal form of RÖF and the merger are registered on 31 December 2014.
Estimated timetable for continued execution of the plan:
During September 2014: Consent from the Financial Supervisory Authority.
31 December 2014: Registration in the Trade Register of the change in legal form, new articles of association and merger.
For further information, please contact:
Josefina Tallqvist, Rettig Group, Investor Relations Manager
Tel:+358 40 7455276, firstname.lastname@example.org eller www.rettig.fi
For further information on Alandia Insurance: www.alandia.com
Rettig Group is a Finnish family business that creates value for generations through sustainable and long-term growth. In all our businesses we focus on leading market positions and more customer value with less environmental impact. Rettig Group owns Rettig ICC – Europe's leading supplier of heat emitters and indoor climate comfort; Nordkalk – northern Europe’s leading supplier of limestone-based products for industry, agriculture and environmental care; and Bore – the industrial shipping service provider. In 2013, Rettig Group’s turnover was EUR 974 million and the group had about 4,300 employees in 25 countries.