Demerger Implementation and Final Accounts

Within six months from the general meeting of shareholders or the decision of the Board of Directors of a company participating in the demerger, such a company shall submit a notice regarding demerger implementation to the Trade Register. Decisions and other documentation will be annexed to such a notice, mainly to show the rights of creditors have been protected sufficiently.

The demerger of a limited liability company enters into force when the implementation of the demerger is registered. The assets and liabilities of the demerging company are transferred to the acquiring company or companies. Simultaneously, in a full demerger, the demerging company is dissolved or in the case of a demerger into a company, the acquiring company is incorporated. The shareholders and holders of options and other rights of the demerging company become entitled to a demerger consideration.

As a final stage of a full demerger, the demerging company shall prepare the final accounts, which shall be submitted for registration to the Trade Register, following annexation of an audit report and adoption at a general meeting.