Tiimari Plc Stock exchange release 1 October 2008, at 5:50 PM TIIMARI LAUNCHES DIRECTED ISSUE OF 1.0 MILLION SHARES Tiimari Plc is the leading retail store chain in the Nordic countries and Eastern Europe specialised in home decoration, arts and crafts, gift wrapping, cards, office and school supplies and seasonal products. On the basis of the authorisation granted by the general shareholders' meeting on April 4 2008, the Tiimari Plc Board of Directors decided today at its meeting to place a directed issue of 1.0 million new shares with a subscription price of EUR 3.10 per share. The new shares represent approximately 9.7 per cent of Tiimari's issued share capital prior to the placing and approximately 8.8 per cent of the issued share capital after the placing. The share issue will increase the total number of issued Tiimari shares to 11,311,070. The share issue, which has been fully subscribed, was directed to instutional and professional investors chosen by the Board of Directors. Subscribers included Mutual Pension Insurance Companies Varma, Ilmarinen and Etera, in addition to Atine Group. The shares must be paid by the end of the subscription period. The subscription price will be entered in its entirety into the free equity reserve. The share issue was implemented to consolidate the balance sheet and financing situation of Tiimari and to finance Tiimari's business operations in the quickest and most cost-effective manner while taking into account the uncertainty in the equity markets. During 2008, Tiimari has set up new stores in Russia and Poland, and, during late autumn, the company will expand into Lithuania. The subscription price of EUR 3.10 is based on the quotations of the Tiimari share on the OMX Nordic Exchange Helsinki Oy on August and September 2008, on the subscription offers received in investor negotiations, on the general uncertainty of equity markets, and the more stringent interest levels and other provisions equity on the market for external funding. The directed share issue will improve both the solvency ration and net gearing of the company. During the autumn, the business of the Tiimari Group has developed as expected, and the most important period as regards the financial development will commence soon. The Group's interim report for the third quarter of the year will be published on 10 November 2008. Tiimari Plc Board of Directors For more information, please contact: Tiimari Plc Kristina Illi - Managing Director, tel. +358 (0)400 408 889 Maija Elenius - Director of Finance, tel. +358 (0)400 488 926 INFORMATION ON TIIMARI PLC DIRECTED ISSUE OF SHARES New shares The company places a maximum of 1,000,000 new shares for subscription. As a result of the share issue, the total number of issued Tiimari shares will increase up to 11,311,070 at the most. The shares to be placed represent approximately 9.7 per cent of Tiimari's issued share capital prior to the placing and approximately 8.8 per cent of the issued share capital after the placing. Subscription right As an exception to shareholders' pre-emptive right, the new shares will be offered for subscription to a maximum of 10 institutional and professional investors decided by the Board of Directors. The reason for the directed share issue is the need to, in the quickest and most cost-effective manner while taking into account the uncertainty in the share markets, consolidate the balance sheet and financial position resulting from the expansion of the company, new stores and preparation for holiday sales. The Board of Directors regards these as being weighty financial reasons for the company to deviate from the shareholders' pre-emptive right. Subscription period The subscription period commences on 29 September 2008 and ends on 30 September 2008, unless the Board of Directors decides to extend the period. The Board of Directors has the right to terminate the subscription period after the share issue has been fully subscribed. Subscription price and entering the subscription price The subscription price is EUR 3.10. The subscription price is based on the quotations of the Tiimari share on the OMX Nordic Exchange Helsinki Oy on August and September 2008, on the subscription offers received in investor negotiations, on the more stringent interest levels and other provisions for the external funding. The subscription price will be entered in its entirety into the free equity fund. Subscription price payment The shares must be paid by the end of the subscription period into a bank account specified by the company. Subject to approval by the Board of Directors, the subscription price may also be paid by setting off the amount. In an excess subscription situation, the excess funds paid by the subscriber will be returned to the subscriber as soon as possible and, at a rough estimate, in three days after the confirmation of the subscriptions. No interest will be paid on any funds to be returned. Subscription of shares, approval of subscriptions and cessation of share issue The subscriptions of shares will be entered into a separate subscription list. Subscriptions are binding. The Board of Directors of the Company will decide on the approval or rejection of subscriptions in a week's time from the end of the subscription period and on the allocation of the shares to the subscribers in any excess subscription situations. The board of directors has the right to decide on a complete or partial cessation of the share issue. Registration of shares and applying for public trading Notification on the new subscribed shares will be submitted to the Trade Register immediately after the approval of the subscriptions. The new shares will be entered into the book entry system after the registration into the Trade Register, and an application will be made, during the final quarter of 2008 as a rough estimate, for introducing the shares into public sharing with the old shares of the company when the prospectus concerning the entering of the share into trading has been prepared, examined and approved in Financial Inspection. Membership rights The right of the shares to dividends and other shareholders' rights will enter into force upon registration of the new shares. Other matters The Board of Directors will decide on other matters related to the share issue. DELIVERY OMX Nordic Exchange Helsinki Key media
TIIMARI LAUNCHES DIRECTED ISSUE OF 1.0 MILLION SHARES
| Source: Tiimari Oyj Abp