Brief: Sievi Capital Initiates Strategy Changes To Turn Into Conglomerate

KH Oyj

15/12/2022 07:19

Dec 15 (Reuters) - Sievi Capital Oyj  SIEVI.HE :
    * INITIATES A CHANGE IN STRATEGY TO TRANSFORM INTO A
CONGLOMERATE
    * MEDIUM-TERM OBJECTIVE IS TO BECOME AN INDUSTRIAL GROUP
BUILT
AROUND KH-KONEET GROUP'S BUSINESS AND TO DIVEST OTHER TARGET
COMPANIES
    * STRATEGY WILL NO LONGER INCLUDE MAKING PRIVATE EQUITY
INVESTMENTS IN NEW INDUSTRIES
    * CHANGE IN STRUCTURE INTO AN INDUSTRIAL GROUP WILL PROCEED
IN
STAGES OVER COMING YEARS
    * CHANGE IN STRATEGY HAS NO IMPACT ON COMPOSITION OF SIEVI
CAPITAL'S OR ITS TARGET COMPANIES' MANAGEMENT TEAMS OR BOARDS OF
DIRECTORS, OR ON POSITION OF EMPLOYEES
    * CONGLOMERATE WILL INCLUDE SIEVI CAPITAL'S OTHER EXISTING
TARGET
COMPANIES INDOOR GROUP, LOGISTIKAS, NORDIC RESCUE GROUP, HTJ
    * DEVELOPMENT OF SIEVI CAPITAL'S OTHER TARGET COMPANIES WILL
CONTINUE IN SAME WAY AS BEFORE, AND AIM IS TO DIVEST THEM AT
OPTIMUM STAGE IN TERMS OF VALUE CREATION
    * DUE TO INVESTMENTS REQUIRED BY STRATEGY CHANGE, BOD WILL
NOT USE
DIVIDEND AUTHORISATION ISSUED BY AGM HELD ON 11 MAY 2022
    * OBJECTIVE OF CHANGE IN STRATEGY IS TO ACCELERATE GROWTH OF
SHAREHOLDER VALUE AND INCREASE TRANSPARENCY

Source text for Eikon:  ID:nGNE7cCcWP 
Further company coverage:  SIEVI.HE 
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