Espoo, 2015-11-02 17:50 CET (GLOBE NEWSWIRE) --
TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 2 NOVEMBER 2015 AT 18:50
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:
Thominvest Oy
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.
Thominvest Oy has undertaken to subscribe 6,250,000 new shares of the Company. The total share of Thominvest Oy (6,750,000 shares) would as a result correspond to at most 6.38 percent of the shares and votes of the Company, or 5.64 percent more, than Thominvest Oy’s current share.
Due to the arrangement described above, Thominvest Oy’s share of ownership will exceed 5 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