Skarta’s journey to become a First North company is progressing according to plan – the Board of Directors to have strong expertise in the energy sector

29.06.21

The Skarta Group Ltd, a builder of a clean future, journey to becoming a First North company is proceeding as planned. Skarta Group Ltd and Privanet Group Plc, listed on the First North Growth Market Finland, signed a share exchange agreement on 22 June 2021, which will transfer the Skarta Group to the public company listed on the First North marketplace.

After the transaction, the plan is to change the name of Privanet Group Plc to Skarta Group Plc and to bring the company’s sector into line with that of Skarta Group. The implementation of the arrangement is expected to take place in July 2021.

The transaction is conditional on the approval of Skarta Group Ltd’s financiers and Nasdaq Helsinki Ltd, as well as on the decisions of the General Meeting of Privanet Group Plc related to the share exchange, for the implementation of which Privanet Group Plc will convene an Additional General Meeting to be held on 13 July 2021.

It is proposed that Kim Wiio, the current Chair of the Board of Directors of Privanet Group Plc, be elected as a Member of the Board of Directors at the Additional General Meeting, alongside with Martti Haapala, Markku Kankaala, Matti Manninen and Jari Suominen as new Members of the Board of Directors.

Kim Wiio is the current Chair of the Board of Directors of Privanet Group Plc and the founder and owner of Mininvest Oy, the company’s largest shareholder. The investor and government professional Wiio has a Master’s degree in laws and has extensive experience in managing a profitably growing energy company and harnessing environmentally friendly forms of energy into business. From 2007 to 2018, Wiio was the CEO of the St1 Nordic Group and is currently a member of its Board of Directors and the second largest owner.

Martti Haapala is the founder of Profin Oy and Managing Director of the investment company ProUp Oy. He has been an entrepreneur for more than 40 years, of which more than 30 years have been spent in international business and trade. Haapala has acted as a shareholder and Board Member at companies such at Shinshowa Corporation Ltd, Rusexpo Oy and Keeen Europe Oy. He has participated in the work of Board of Directors of more than 25 companies.

Markku Kankaala is a North Ostrobothnian entrepreneur who has worked on the boards of more than 50 companies and who also has long-term experience working on the boards of listed companies. He is also the founder of Afarak Group Plc (formerly Ruukki Group Plc) and was a member of the company’s Board of Directors in 1993–2017. Kankaala served as Chair of Enersense International Corporation’s Board of Directors from 2020 to 2021 and is currently a member of its Board of Directors.

Matti Manninen has more than 30 years of experience in leadership positions in the energy industry. He has acted as the Managing Director of E.ON Finland Plc (formerly Espoon Sähkö Oyj) 1993–2006, as the Managing Director of E.ON Suomi Oy 2006–2010, and as a Senior Advisor at Pöyry Management Consulting Oy 2010–2013. Today, Manninen is a management consultant to energy companies as Managing Director of Manpoint Oy.

Jari Suominen has 40 years of international experience in the field of energy. From 1981–2007, he worked for ExxonMobil and from 2007 to 2019 for the St1 Group in various management positions related to fuels, electricity and heat production, responsible for St1’s renewable energy business in Finland, Sweden and Norway. Nowadays, Suominen is the advisor to the CEO of St1.

For further information, please contact:

Jukka Juola
jukka.juola@skarta.fi

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