Stock Exchange Releases

Decision of the District Court of Varsinais-Suomi


Tulikivi Corporation’s Prospectus dated 9 October 2013 describes that the district prosecutor from the Prosecutor’s Office of Varsinais-Suomi pressed charges against Heikki Vauhkonen, CEO of Tulikivi Corporation, and Jouko Toivanen, CFO of Tulikivi Corporation, due to alleged breach of the information obligation in Taivassalo, Finland on 15 – 30 June 2011 pursuant to the Act on Co-operation Within Undertakings.

The District Court of Varsinais-Suomi sentenced on 11 October 2013 Mr. Heikki Vauhkonen, and Mr. Jouko Toivanen to pay 15 day-fines each (Mr. Vauhkonen EUR 1.470 and Mr. Toivanen EUR 1.125) due to the breach of co-operation information obligation in connection with the business transfer of Tulikivi Corporation’s building stone business executed on 1 July 2011 in Taivassalo, Finland. The District Court reasoned its decision by stating that the information required in the Paragraph 41.1 of the Act on Co-Operation Within Undertakings was not disclosed to the employee representatives of Tulikivi Corporation in due time before the execution of the business transfer.

Mr. Vauhkonen and Mr. Toivanen had denied the indictment for breaching the co-operation information obligation considering that they had duly followed the applicable procedure. Tulikivi Corporation was only heard in connection with the process and no legal consequences were claimed or imposed to it.

The decision of the District Court is not legally final. Both Mr. Vauhkonen and Mr. Toivanen consider the decision as erroneous and intent to appeal against the decision to the Appeals Court within the set time.

In Juuka, October 11, 2013


Additional information: Tulikivi Corporation, 83900 Juuka,
–    Harri Suutari,  tel. +358 400 384 937


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