RESTAMAX PLC: SMILE HENKILÖSTÖPALVELUT PURCHASES THE REST

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News Desk 2018

Dec 31, 2014 at 9:15 AM

RESTAMAX PLC: SMILE HENKILÖSTÖPALVELUT PURCHASES THE REST OF STAFF INVEST GROUP'S LABOUR HIRE OPERATIONS

Restamax Plc STOCK EXCHANGE RELEASE 31 December 2014 at 16:00 SMILE HENKILÖSTÖPALVELUT, A SUBSIDIARY OF RESTAMAX PLC, PURCHASES THE REST OF STAFF INVEST GROUP'S LABOUR HIRE OPERATIONS Smile Henkilöstöpalvelut, a subsidiary of Restamax Plc, has purchased the rest of Staff Invest Group's labour hire operations. The operations and ownership of the object of acquisition are transferred on 31 December 2014, and the operations will from then on be merged with Restamax Group's labour hire operations. The total purchase price for the object of corporate acquisition is approximately MEUR 1.2 with the added difference of the current assets and borrowed funds of the subsidiaries specified below in accordance with their financial statements on 31 December 2014, to be paid by 30 April 2015. Approximately MEUR 0.3 of the purchase price will be paid on 31 December 2014, the date of transferring ownership. MEUR 0.3 of the purchase price will be paid on 31 January 2015. MEUR 0.3 of the purchase price will be paid on 31 December 2015. MEUR 0.3 of the purchase price will be paid on 31 December 2016. The Corporate Acquisition is bank-funded within the framework of Restamax Plc's current funding limits. Some of the purchase price will be paid to the vendor within a payment period. The estimated turnover of the object of acquisition in 2015 is approximately MEUR 3. The object of acquisition's stock of contracts in the field of labour hire services is worth approximately MEUR 20 (31 December 2014). The object of acquisition comprises the labour hire services and customer contract base of Staff Invest, and the shares of Staff Invest in certain Staff Invest subsidiaries, which conduct labour hire services, as follows: Subsidiary Share Happy Henkilöstöpalvelut Oy 100% Onni Henkilöstöpalvelut Oy 100% The majority of the vendor's shareholders are parties related to Restamax Plc, which makes the corporate acquisition a related party transaction. The property of Staff Invest Oy is divided as follows: Wawe Capital Oy 45%, Avemari Oy 27.5%, Eiramax Oy 11.25%, JV-Staff Oy 11.25% and Mr Max Oy 5%. Of the shareholders, Wawe Capital Oy is controlled by the spouse of Timo Laine who is the Chair of the Board of Directors of Restamax Plc; Mr Max Oy is jointly owned by Timo Laine and Restamax Plc board member Mikko Aartio; the chief shareholder of Eiran Ravintolatoimi Oy is Mikko Aartio while Timo Laine from Avemari Oy owns half the company through Almalex Capital Oy, which he controls. Additional information: Markku Virtanen, Restamax Plc, CEO, tel. +358 400 836 477 Jarno Suominen, Restamax Plc, CFO, tel. +358 40 721 5655 Sami Asikainen, Smile Henkilöstöpalvelut Oy, Managing Director +358 40 700 9915 Distribution: NASDAQ OMX Helsinki Major media www.restamax.fi Restamax Plc is a Finnish restaurant business group established in 1996 that also offers labour hire services. The company, which listed on the NASDAQ OMX Helsinki stock exchange in 2013 and became the first Finnish listed restaurant company, has continued to grow steadily throughout its history. The group companies include over 80 restaurants, cafés, pubs and nightclubs all over Finland. Well-known restaurant concepts of the group include Gringos Locos, Bodega Salud, Viihdemaailma Ilona, American Diner, Daddy's Diner, Stefan's Steakhouse and Wayne's Coffee Finland. Restamax Plc employs approximately 900 people, the Group's pro forma turnover in 2013 was MEUR 87.0 and EBITDA MEUR 13.3. Restamax company website: www.restamax.fi, Restamax consumer website: www.ravintola.fi [HUG#1884012]

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