Savosolar changes its name to Meriaura Group and sells its solar thermal business to its subsidiary Meriaura Energy
As decided in Savosolar Plc’s Annual General Meeting on 12.5.2023, the name of Savosolar Oyj will change to Meriaura Group Oyj, Meriaura Group Abp in Swedish and Meriaura Group Plc in English. At the same time, the company’s domicile will move to Turku. The changes will take place on 1.6.2023.
The names of the trading codes of the company’s share will change accordingly: in First North Growth Market Sweden, the new ticker is MERIS, and in First North Growth Market in Finland, MERIH. The ISIN codes of the shares will not change. Trading with the new tickers will begin approximately on the first day of June.
In addition, the Board of Directors of Savosolar Plc, authorized by the Annual General Meeting, has today decided on the sale of Savosolar’s Renewable Energy business on 31.5.2023 to Meriaura Energy Oy, a new subsidiary wholly owned by the Group.
The Savosolar name will remain in use by the new company as an auxiliary business name and as a well-known and respected high-class brand in the solar thermal market. Savosolar’s solar thermal business will be part of Meriaura Energy’s renewable energy business.
The aim of the planned changes is to clarify the corporate structure by separating the renewable energy business unit from the Group’s parent company into a separate entity, as has been done for maritime logistics in the other business area. The parent company, in turn, focuses on the Group’s administration and investor relations. The renewed corporate structure clarifies the Group’s administration and business operations as a whole.
As of 1.6.2023, Savosolar’s entire personnel will transfer to Meriaura Energy as existing employees, with the exception of the Group’s CEO, CFO and administrative assistant, who will remain in the service of the parent company. In addition, Meriaura Energy Oy’s Board of Directors has today 30.5.2023 appointed MEng, MBA Antti Lilleberg as the CEO for Meriaura Energy. He has previously worked as Sales and Marketing Director in Savosolar.
Meriaura Group’s new website with investor information will open on 1.6.2023 at meriauragroup.com. At the same time, the pages concerning the solar thermal business will be moved to address meriauraenergy.com.
These changes have no affect on Meriaura Ltd’s business.
