PANOSTAJA DIVESTS THE SUPPORTS SEGMENT AND SELLS TOIMEX OY TO AN INVESTOR GROUP FROM TAMPERE AND EXISTING MANAGERS

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| Source: Panostaja Oyj
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Panostaja Oyj        Stock Exchange Bulletin, December 3, 2013, 11:00

 

Panostaja Oyj has today together with the other owners of Toimex Oy signed a deed by which Toimex Oy's share capital is sold to an investor group from Tampere and existing managers.

In the transaction, about 80% of the shares of Kannake Oy will be transferred to the buyers. The ownership of existing managers prior to the transaction, about 20%, remains in the company. Kannake Oy is a subsidiary of which Panostaja owns 70.42%. Kannake Oy has a 100% holding in Toimex Oy, which manufactures and sells HPAC pipe supports. In conjunction with the transaction, Panostaja divests its entire shareholding.

Panostaja does not record any significant sales profit from the transaction. The divestment of the Supports segment is in keeping with Panostaja’s strategy and supports its active portfolio development target.

The divestment has no impact on the result management given on October 17, 2013.

 

Panostaja Oyj

Juha Sarsama

CEO

 

Further information:

CEO Juha Sarsama, Panostaja Oyj, +358 (0)40 774 2099

 

Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories.

After this transaction, Panostaja Oyj operates in eight business areas, and Panostaja Group employs some 1,300 staff. Without adjustment for the sales of Matti-Ovi and Suomen Kiinnikekeskus Oy, Panostaja Group’s net sales in the 2012 financial period were MEUR 156.8. Panostaja’s shares (PNA1V) are quoted on the NASDAQ OMX Helsinki Stock Exchange.

www.panostaja.fi

Since 1974, Toimex Oy specialises in the manufacture and sales of HPAC pipe supports. The company’s product portfolio covers the needs of housing construction, construction projects for the public sector, and industrial construction as well as various applications, materials and types of finishing. The company’s main customers include wholesale dealers in the HPAC and technical field. The company employs 16 people and has branches in Tampere and Helsinki. The net sales of Toimex Oy during the financial year ending October 31, 2012 totaled MEUR 4.0, and the company’s EBIT stood at MEUR 0.3.