Espoo, 2015-11-02 15:45 CET (GLOBE NEWSWIRE) --
TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 2 NOVEMBER 2015 AT 16:45
As previously notified, as part of the restructuring programme of Trainers’ House confirmed by the District Court of Espoo, the Company’s restructuring creditors of normal preference are offered the option to convert their receivables into shares of the Company as described in more detail in Company’s restructuring programme.
The Company’s Board of Directors has now made a decision on the directed share issue according to the restructuring programme under the authorisation by the Extraordinary General Meeting on 9 July 2015.
In the directed issue, the maximum number of the Company’s new shares to be issued is 42,730,860. The new shares will be offered to the restructuring creditors of the Company in deviation from the shareholders’ pre-emptive rights. The right to subscribe starts on 9 November 2015 at 9.30 and ends on 11 November 2015 at 16.00. The subscription price for each share is EUR 0.08 and it shall be paid in full by setting-off restructuring debts of the Company. The subscription price for new shares will be booked to the distributable non-restricted equity fund. The Company has received undertakings to subscribe 37,812,500 new shares.
The Company will notify about the outcome of the directed share issue after the subscription time.
TRAINERS’ HOUSE PLC
Arto Heimonen, tel. +358 (0)40 412 3456
CEO
DISTRIBUTION
OMX Nordic Exchange, Helsinki
Key media
www.trainershouse.fi > Investors