Marimekko Corporation, Stock Exchange Release, 27 February 2019 at 8.15 a.m.
TERMS AND CONDITIONS OF MARIMEKKO CORPORATION’S SHARE ISSUE DIRECTED TO PERSONNEL
On 1 November 2018, Marimekko Corporation announced that, in spring 2019, it will arrange a share issue directed to its personnel and to designers employed by the company on a freelance basis.
The company’s Board of Directors has decided on the detailed terms and conditions of the personnel share issue. A maximum total of 150,000 new shares in the company will, in deviation from the shareholders’ pre-emptive right, be offered for subscription to Marimekko’s employees and freelance designers in Finland. The share subscription prices are based on the trading-volume-weighted average price of the company’s share on Nasdaq Helsinki Ltd during the period from 1 January to 31 January 2019 and two different discounts calculated on such average share price. The average price of the share during the above period was 22.89 euros. Thus, the subscription price is 11.45 euros per share for the first fifty shares and 20.60 euros per share for shares to be subscribed for after the first fifty shares. The subscription period will run from 11 March to 22 March 2019. The shares subscribed for must be paid upon subscription. Shares subscribed for at the lower price are subject to a one-plus-year transfer restriction. The subscription price will be recorded in the company’s reserve for invested non-restricted equity.
The complete terms and conditions of the personnel share issue are attached to this stock exchange release.
The final result of the personnel share issue is estimated to be announced during week 15.
The decision to arrange a share issue is based on the authorisation granted by the Annual General Meeting held on 12 April 2018.
Further information:
Tiina Alahuhta-Kasko, President and CEO, tel. +358 9 758 71
MARIMEKKO CORPORATION
Corporate Communications
Piia Kumpulainen
Tel. +358 9 758 7293
piia.kumpulainen@marimekko.com
DISTRIBUTION:
Nasdaq Helsinki Ltd
Key media
ATTACHMENT: Terms and conditions of personnel share issue
Marimekko is a Finnish design company renowned for its original prints and colours. The company’s product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2017, brand sales of the products worldwide amounted to EUR 193 million and the company's net sales were EUR 102 million. Roughly 150 Marimekko stores serve customers around the globe. The key markets are Northern Europe, North America and the Asia-Pacific region. The Group employs about 450 people. The company’s share is quoted on Nasdaq Helsinki Ltd. www.marimekko.com
Attachment
