Espoo, 2015-11-03 16:50 CET (GLOBE NEWSWIRE) --
TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 3 NOVEMBER 2015 AT 17:50
Trainers’ House Plc (ID 1564461-8) (”Trainers’ House” or “Company”) has on 3 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:
The Orange Company 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 program 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 program.
The Company’s Board of Directors has on 2 November 2015 made a decision on the directed share issue according to the restructuring program 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 Company has received undertakings to subscribe 37,812,500 new shares.
The Orange Company Oy’s ownership of Trainers’ House will dilute due to the share issue. The total share of The Orange Company Oy (4,250,000 shares) would as a result correspond to at most 4.02 percent of the shares and votes of the Company, or 2.23 percentage units less than The Orange Company Oy’s current share.
Due to the arrangement described above, The Orange Company Oy’s share of ownership will fall below 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