The Board of Directors of NoHo Partners decided to grant 2.4 million special rights to Finnish Industry Investment Ltd as a part of the financing package completed earlier

NoHo Partners Plc

STOCK EXCHANGE RELEASE 29 June 2020 at 17:30

The Board of Directors of NoHo Partners decided to grant 2.4 million special rights to Finnish Industry Investment Ltd as a part of the financing package completed earlier

On 29 May 2020, NoHo Partners announced it had concluded a loan agreement of EUR 10 million with Finnish Industry Investment Ltd (Tesi), a state-owned investment company, as part of the financing package to address the exceptional circumstances created by the coronavirus pandemic. Under the loan agreement, Tesi has the right to convert the loan, including interest, into new company shares.

Based on the authorisation granted by the Annual General Meeting of NoHo Partners, held on 16 June 2020, the Board of Directors decided on 29 June 2020 to issue 2,400,000 special rights to Tesi, which entitle Tesi to subscribe for new shares in the company. Each special right gives the right to subscribe for one new share issued by NoHo Partners. If the special rights are exercised in full, the shares subscribed will account for approximately 12.5% of NoHo Partners’ shares currently outstanding. The conversion right will begin on 30 November 2021. The conversion will be carried out by offsetting the loan principal and accumulated interest against the share subscription price. The subscription price equals the average share price on Nasdaq Helsinki weighted by the trading volumes for the three (3) months preceding the conversion.

Tesi is also entitled to exercise its conversion right if the company issues shares or instruments entitling to shares, excluding share issues related to the company’s existing remuneration systems. Should share subscription take place in such a situation, the subscription price per share may not exceed the share subscription price applied in the share issue or special rights issue at hand. Tesi is also entitled to exercise its conversion right if a substantial change of ownership takes place in the company or if grounds for repayment, as specified in the loan agreement, emerge.

Additional information:

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

Distribution:

Nasdaq Helsinki

Major media

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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, Yes Yes Yes, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. In 2019, NoHo Partners Plc’s turnover was MEUR 272.8 and EBIT MEUR 30.6. Depending on the season, the Group employs approximately 2,100 people converted into full-time workers.

NoHo Partners corporate website: /en

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