HELSINKI, Finland--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Sanitec Corporation (“Sanitec” or the “Company”) has today decided to apply for delisting of the Sanitec shares from Nasdaq Stockholm. The last day of trading in the shares will be notified when Sanitec has been informed thereof by Nasdaq Stockholm.
On 3 February 2015 Geberit AG (”Geberit”) announced that the public offer to the shareholders of Sanitec has been accepted to such extent that Geberit holds 99.27 per cent of the shares and votes in Sanitec (excluding the 190,000 treasury shares held by Sanitec on 3 February 2015). Geberit also announced that they intend to request compulsory acquisition of the remaining minority shares in the Company.
Based on the above, the Board of Directors of Sanitec considers that it is no longer justified for the Company to remain listed and has therefore decided to apply for delisting of Sanitec’s shares from Nasdaq Stockholm. The last day of trading in the shares on Nasdaq Stockholm will be announced as soon as the Company has been informed thereof by Nasdaq Stockholm.
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.
Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ Stockholm under the symbol “SNTC”.
For more information about Sanitec, please visit www.sanitec.com.
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