Trainer's House Oyj - Company Announcement

PART OF TRAINERS’ HOUSE’S SAAS-BUSINESS OPERATIONS TO BE TRANSFERRED TO A NEW COMPANY

Espoo, 2012-09-03 07:30 CEST (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC, STOCK
EXCHANGE RELEASE, 3 SEPTEMBER 2012 AT 8:30 

Trainers' House Growth System Corporation, a fully owned subsidiary of
Trainers' House Plc, has signed an agreement concerning a transaction in which
Trainers' House's business operations related to the Sydän and Virta
SaaS-products will be transferred to a new company. Trainers' House will own
19.9 % of the new company and the rest of the new company will be owned by the
management of the new company. 

The new company will operate under the name Cloudriven. Five employees of
Trainers' House Growth System Corporation will be transferred to Cloudriven as
a part of the transaction. As a result of the transaction Cloudriven is able to
focus on the needs of the customers using Sydän and Virta products as well as
on further development of cloud services based on Microsoft-technologies.
SaaS-products related to training services will remain with Trainers' House and
Trainers' House will continue to develop these products in co-operation with
Cloudriven and other companies. 

Cloudriven and Trainers' House have also entered into a partnership agreement
concerning the implementation services and sales co-operation of the
transferred products and will co-operate to ensure that the service levels of
the current and new customers will be further enhanced as both companies focus
on their core competencies. 

Trainers' House estimates that the transaction will not have an effect on the
company's profitability. Trainers' House will not receive or pay cash
consideration in connection with the completion of the transaction. Depending
on the success of the new company it is possible that Trainers' House may
receive payments based on its shareholding in the new company or issued debt
instruments. Trainers' House estimates that these possible payments will not be
significant. As a result of the transaction the company's net sales for the
fourth quarter will decrease by approximately EUR 0.4 - 0.5 million. The
transferred business operations have been slightly loss-making. 


TRAINERS' HOUSE PLC

Vesa Honkanen
CEO

FURTHER INFORMATION
Vesa Honkanen, CEO, tel. +358 500 432 993

DISTRIBUTION
OMX Nordic Exchange, Helsinki
Main media
www.trainershouse.fi

Attachments:

Porssitiedote 3.9.2012 eng.pdf