The Board of Directors of NoHo Partners Plc has decided on a directed share issue as a part of the acquisition of all the shares in Sea Horse Oy

NoHo Partners Plc

STOCK EXCHANGE RELEASE 1 July 2022 at 1 p.m.

The Board of Directors of NoHo Partners Plc has decided on a directed share issue as a part of the acquisition of all the shares in Sea Horse Oy

The board of directors of NoHo Partners Plc (“NoHo Partners”) has today, by virtue of an authorisation granted by the company’s annual general meeting on 27 April 2022, decided to issue 170,728 new shares (“New Shares”) in a directed share issue. The New Shares correspond to approximately 0.83 per cent of all shares in NoHo Partners before the share issue.

The share issue relates to a transaction whereby NoHo Partner purchases all the shares in Sea Horse Oy. The share issue is directed to Fonda Oy (“Seller”) as the seller of Sea Horse Oy. Sea Horse Oy owns restaurant Sea Horse that operates in Helsinki. After the transaction, Sea Horse Oy is fully owned by NoHo Partners. The purchase price for all the shares in Sea Horse Oy is 2,000,000 euros of which approximately 620,000 euros is paid in cash. The outstanding amount of the purchase price is paid with New Shares. Additionally, the Seller is entitled to an ear out purchase price payable in cash subject to the fulfilment of certain revenue criteria as agreed in the share purchase agreement.

The subscription price of New Shares is 8.083 euros per share. The subscription price corresponds to the average volume weighted trading price of NoHo Partners’ share on the official list of Nasdaq Helsinki Ltd during the preceding three months (i.e., 1 April 2022 to 30 June 2022).

As a result of the share issue, the aggregate number of shares in NoHo Partners will increase to 20,699,801.

The New Shares will be registered with the Finnish Trade Register on or about 7 July 2022, and they will carry shareholder rights in NoHo Partners as of the date of registration. The company will apply for the New 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 8 July 2022.

Aku Vikström, CEO of NoHo Partners, comments on the transaction:

“Restaurant Sea Horse, established in 1934, is an institution in the Finnish restaurant history. We are honoured to continue this tradition together with the restaurant’s skilled personnel. Our aim is to preserve the spirit of the restaurant so that the city residents, to whom the place really belongs, can continue to experience the story uninterrupted.

When the long-term entrepreneur, whom we know well, decided to sell their business and this opportunity arose, the choice was easy. Restaurant Sea Horse fits in well with the other respected restaurants in our company, such as Elite and Savoy. These classic restaurants not only have a loyal customer base and a respect for tradition, but also a business model that is sustainable and profitable.”

For more information:

Aku Vikström, CEO, NoHo Partners Plc, tel. 7

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

NoHo Partners Plc

Hatanpään valtatie 1 B

FI-33100 Tampere

/en

NoHo Partners Plc is a Finnish group established in 1996 specialising in restaurant services. The company was listed on NASDAQ Helsinki in 2013, becoming the first Finnish listed restaurant company. It has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. Some of 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.