NOTIFICATION PURSUANT TO CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT

Espoo, 2015-11-02 17:45 CET (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 2 NOVEMBER 2015 AT 18:45

Trainers’ House Plc (ID 1564461-8) (”Trainers’ House” or “Company”) has on 2 November 2015 received a notification of major shareholdings pursuant to Chapter 9, Section 5 of the Finnish Securities Market Act.

1. Full name of the target
Trainers’ House Plc

2. Full name of the person subject to the notification obligation:
Jari Sarasvuo

3. Date on which the flagging threshold is reached or crossed:
Estimated on 9 November 2015

4. Reason for the notification:
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 on 2 November 2015 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.

Jari Sarasvuo has undertaken to subscribe 24,062,500 new shares of the Company. Jari Sarasvuo’s and his controlling interest company Causa Prima Oy’s combined share (41,638,111 shares) would as a result correspond to 39.34 percent of the shares and votes of the Company, or 13.50 percent more than Jari Sarasvuo’s and Causa Prima Oy’s current total share.

The Financial Supervisory Authority has by decision on 10 June 2015 granted Jari Sarasvuo and Causa Prima Oy an exemption order pursuant to Chapter 11, Section 26 of the Finnish Securities Market Act from making a mandatory bid due to the debt conversion to be carried out now.

Due to the arrangement described above, Jari Sarasvuo’s share of ownership will exceed 30 percent of Trainers’ House’s shares.

Prior to the share issue, the amount of Trainers’ House’s outstanding shares is 68,016,704, and after the share issue, at least 105,829,204 shares. The Company has only one class of shares, and each share entitles to one vote.


TRAINERS’ HOUSE PLC
 
Arto Heimonen, tel. +358 (0)40 412 3456
CEO


DISTRIBUTION
OMX Nordic Exchange, Helsinki
Key media
www.trainershouse.fi > Investors