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Redemption oblication

14 §

Any shareholder, whose holding of the company's total shares or votes carried by the shares, either alone or together with other shareholders as hereafter defined, obtains or exceeds 331/3% or 50% (shareholder with redemption obligation) shall, on request, be liable to redeem the shares and other securities giving entitlement thereto under the Companies Act, as defined in this clause, from other shareholders (shareholders entitled to redemption). That mentioned about shares and securities in this clause also likewise applies to book-entry securities.

Calculation of a shareholder's ownership of the company's shares and the votes carried by them shall also include shares that belong to

 1. entities that, under the Companies Act, are part of the same group as the shareholder,

2. a company that, when preparing financial statements in compliance with the Accounting Act, is considered as being part of the same group as the shareholder,

3. the pension foundations or pension funds of the entities or companies referred to above and

4. a company or entity other than a Finnish one which, if it were Finnish, would be part of the same group as the shareholder in the manner provided.

Should redemption obligation arise through total ownership or votes, the shareholders having redemption obligation shall jointly and severally be liable to redeem in respect of those shareholders entitled to redemption. In this context, the demand for redemption shall be deemed as having been directed even without a separate demand being sent to all those shareholders with redemption obligation.

Should two or more shareholders reach or exceed the share or vote limit at which they simultaneously become liable to redeem the remaining shares, a shareholder entitled to redemption may make a separate demand to both shareholders to redeem the shares.

The redemption obligation shall not apply to shares or to securities entitling thereto that the shareholder demanding redemption has acquired after redemption obligation has arisen.

 14 § continues : Redemption price
 14 § continues : Redemption procedure
 14 § continues : Other regulations