Espoo, 2015-12-10 14:00 CET (GLOBE NEWSWIRE) --
TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 10 DECEMBER 2015 AT 15:00
Trainers’ House Plc (ID 1564461-8) (”Trainers’ House” or ”Company”) has on 10 December 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:
10 December 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. The amount of new shares of the Company issued in the directed share issue was 38,720,358, and the total amount of shares of the Company increased from 68,016,704 to 106,737,062 shares. The new shares were offered to the restructuring creditors of the Company in deviation from the shareholder’s pre-emptive rights, and they were registered with the Finnish Trade Register on 8 December 2015.
The Orange Company Oy’s share of the Company’s shares has diluted due to the share issue, as The Orange Company Oy does not have restructuring debts in the restructuring proceedings of the Company that are entitled to conversion. The Orange Company’s share of the Company’s shares and votes has as a result lowered from 6.25 percent to 3.98 percent. The number of shares of the Company owned by The Orange Company Oy has remained unchanged.
TRAINERS’ HOUSE PLC
Arto Heimonen, tel. +358 (0)40 412 3456
CEO
DISTRIBUTION
OMX Nordic Exchange, Helsinki
Key media
www.trainershouse.fi > Investors