Summa Defence Plc Resolves on 2025 Earn-Out Payment for Nordic Yards Acquisition
Summa Defence Plc has decided to issue shares to pay the 2025 earn-out related to its acquisition of Nordic Yards Oy. The decision follows an addendum to the original share exchange agreement.
Summa Defence Plc has resolved to pay the 2025 earn-out installment connected to its earlier acquisition of Nordic Yards Oy. The company announced on August 27, 2026, that an addendum to the share exchange agreement, originally signed on November 18, 2024, had been entered into regarding the payment arrangements for the 2025 earn-out.
The addendum specifically addresses the payment schedule and terms for the earn-out amount owed to the former shareholders of the Nordic Yards group, referred to as the Sellers. This ensures clarity and finality on the financial obligations stemming from the acquisition.
On September 3, 2026, the Board of Directors of Summa Defence Plc made the decision to proceed with a directed share issue to the Sellers. This share issuance will serve as the mechanism for the payment of the 2025 earn-out, fulfilling the company's contractual obligations.
This resolution marks a significant step in the post-acquisition process, finalizing a key component of the Nordic Yards deal. The share-based payment reflects the agreed-upon terms and underscores the completion of the transaction within the shipbuilding sector.