NoHo Partners Plc issues 40,503 new shares in a directed share issue

NoHo Partners Plc

STOCK EXCHANGE RELEASE 27 January 2022 at 16:00



NoHo Partners Plc issues 40,503 new shares in a directed share issue

On 27 January 2022, the Board of Directors of NoHo Partners Plc (“NoHo Partners”) decided, by virtue of the authorisation granted by the Annual General Meeting, to issue in a directed share issue 40,503 new NoHo Partners shares (“Share”). The number of shares subscribed for in the share issue (“Issue”) corresponds to approximately 0.2 per cent of NoHo Partners share capital after the registration of the new shares.

The Issue will be directed to the Norwegian company Carpe Diem AS (“Seller”) as part of an arrangement through which NoHo Partners’ subsidiary NoHo Partners International Oy acquires additional 6 per cent of the shares in the Norwegian company NoHo Norway AS (“Transaction”). As a result of the Transaction NoHo Partners International Oy will hold in total 86 per cent of the shares in NoHo Norway AS. In connection with the Transaction, receivables amounting to approximately EUR 294,000 will be transferred to the Seller from NoHo Norway AS in addition to the Shares. The subscription price per Share is EUR 7.993, which corresponds to the three (3) months’ volume weighted average price of the NoHo Partners share.

The shares will be registered in the Trade Register approximately on 28 January 2022, and they will confer shareholder rights to their owners starting from the registration date. Admission to trading the shares on the Nasdaq Helsinki Ltd Stock Exchange will be sought approximately on 31 January 2022. As a result of the subscriptions, the number of NoHo Partners shares will increase to 19,262,773 shares.

It is the view of the Board of Directors of NoHo Partners that the Transaction supports the Group’s international growth and implementation of its strategy. Another aim of the Issue is to commit the Seller to the company.

CEO Aku Vikström:



"Knowledge of the local market is a key competitive factor in our internationalization. With this share issue, we will not only increase our holdings in the highly profitable Norwegian parent company, but also commit local management to implement our 2024 growth strategy."

Additional information:

Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. 5

Aku Vikström, CEO, NoHo Partners Plc, tel. 9

Distribution:

Nasdaq Helsinki

Major media

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 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 and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time employees. The company aims to achieve turnover of approximately MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.