Arrangement of the NoHo Partners convertible loan granted by

NoHo Partners Plc

INVESTOR INFO May 16, 2022 at 7:00 a.m.

Arrangement of NoHo Partners convertible loan from Tesi – investors include company management and domestic investors

The management and domestic investors of NoHo Partners Plc acquired the majority of the convertible equity loan provided to the company by Finnish Industry Investment Ltd (Tesi) and converted their purchase into new shares of the company. The company repaid the remaining part of the loan’s principal and interest, about one-sixth, to Tesi using its cash.

Thanks to this agreement, the company’s equity is reinforced and its net debt is reduced by more than 10 million euros. The agreement allows the company financial flexibility, which will lead to the implementation of future growth projects as part of the company’s profitable growth strategy.

The arrangement included investments from the chairman of the board of directors Timo Laine (through Laine Capital Oy) and new board members Kai Seikku (through Seico Investments Ltd) and Vice Chairman Yrjö Närhinen. From company management, CEO Aku VikstromDeputy to the CEO Jarno Suominen and financial director Jarno Vilponen invested in the business as part of the arrangement. New investors include Länsiauto Oy and AH Capital Oy. In addition, the current shareholders Mika Ihamuotila (through PowerBank Ventures Ltd) and Veikko Laine Oy increased their stake in the company as part of the arrangement, the latter significantly.

“The company is entering a phase of growth in line with its strategy to become the leading catering company in Northern Europe. This arrangement strengthens the company’s balance sheet structure and frees up its own cash flow for future growth investments. It is also a strong indicator that the owners of the company, new board members and management believe in our shared growth story,” says Timo Laine, Chairman of the Board of NoHo Partners.

The convertible equity loan was part of Tesi’s stabilization financing during the coronavirus pandemic and part of the company’s financing solution for the exceptional circumstances caused by the pandemic.

The company announced the subscription for shares based on special rights in a stock exchange press release dated May 13, 2022, available here.

For more information:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 235 7817
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655

Distribution:
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www.noho.fi/en

NoHo Partners Plc is a Finnish group created in 1996 specializing in catering services. The company was listed on NASDAQ Helsinki in 2013, becoming Finland’s first listed catering company. It has continued to grow strongly throughout its history. Group companies include some 250 restaurants in Finland, Denmark and Norway. Some of the company’s well-known restaurant concepts include Elite, Savoy, Teatteri, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs, Campingen and Cock’s & Cows. Depending on the season, the Group employs around 2,100 people converted into full-time employees. The Group aims to achieve a turnover of 400 MEUR by the end of 2024. The company’s vision is to be the leading catering company in Northern Europe.

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