Subscription for shares in NoHo Partners Plc based on special rights

NoHo Partners Plc

STOCK EXCHANGE RELEASE 13 May 2022 at�17:30

Subscription for shares in NoHo Partners Plc based on special rights

The board of directors of NoHo Partners Plc has today approved the subscription for shares based on special rights issued by the company. Based on the subscriptions, the company will issue a total of 1,266,300 new shares.

The special rights the subscriptions were made with were related to the convertible loan granted to the company by the state-owned investment company Finnish Industry Investment Ltd (Tesi) which the company announced on 29 May 2020 and 29 June 2020. Tesi granted the loan to the company as a part of the financing package to address the exceptional circumstances created by the coronavirus pandemic. Tesi has today transferred most of the loan, and special rights related thereto to investors who simultaneously converted the loan transferred to them into shares in accordance with the terms and conditions of the loan, offsetting the loan principal and interest transferred to them against the share subscription price. The company has simultaneously repaid the remaining part of its loan principal and interest, i.e., approximately one sixth, to Tesi. As a result of the above-mentioned actions, the loan has been repaid in full. The remaining special rights have expired unexercised, and therefore no longer entitle to subscribe for shares in the company.

Shares in the company were subscribed for by Veikko Laine Oy, Länsiauto Oy, AH Capital Oy and PowerBank Ventures Ltd. Additionally, shares were subscribed for by Laine Capital Oy, owned by the chairman of the company’s board of directors Timo Laine, vice-chairman of the board of directors Yrjö Närhinen through an asset management company he uses, and Seico Investments Ltd, owned by member of the board of directors Kai Seikku. Shares were also subscribed for by the company’s chief executive officer Aku Vikström, deputy chief executive officer Jarno Suominen and chief financial officer Jarno Vilponen.

As a result of the subscriptions, the aggregate number of shares in the company will increase to 20,529,073.

The subscription price of shares was approximately EUR 8.03 per share. The subscription price was determined based on the terms and conditions of the loan and the terms and conditions of the special rights and it corresponds with the volume-weighted average share price on the official list of Nasdaq Helsinki Ltd over the three months (11 February 2022–11 May 2022) preceding the conversion. The subscription prices will be recorded into the company’s invested unrestricted equity fund, and the company’s share capital will therefore not change.

The shares will be registered in the Finnish Trade Register on or about 18 May 2022, and they will carry shareholder rights as of the date of registration. The company will apply for the shares to be admitted to trading with the company’s other shares on the official list of Nasdaq Helsinki Ltd so that the trading will begin on or about 19 May 2022.

For more information:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 235 7817
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655

Distribution:
Nasdaq Helsinki
Major media
www.noho.fi/en

NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and which became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs, Campingen and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time employees. The Group aims to achieve turnover of MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.