Panostaja Oyj - Other information disclosed according to the rules of the Exchange

PANOSTAJA’S INVESTMENT TARGET GRANO STARTS CO-OPERATION NEGOTIATION PROCEDURE

Panostaja Oyj                Stock Exchange Bulletin, September 1, 2017, 2:15 PM

Panostaja Oyj’s subsidiary Grano Group Oy has today announced that it will start co-operation negotiation procedures on September 6^th, 2017 concerning all Grano Group’s functions. Initial estimate is that planned re-organisation will lead up to 150 persons to be suspended without pay, to be changed into part-time employment or to be laid off. The co-operation negotiations include also changes in the work tasks. Should the re-organisation take place the actions will be carried out latest by 31^st March 2018.

In accordance to its strategy Grano Group has built up its operations during financial year 2017 through several acquisitions. These acquisitions have targeted into wider offering to customers, synergies, operational efficiencies and larger volumes. In addition to these acquisitions Grano Group needs to constantly improve its competitiveness and develop its operations within the chancing market. Because of the above Grano Group’s management team plans to re-organise Grano Group’s operations.             

 

Panostaja Oyj

Juha Sarsama

CEO

 

CEO Jaakko Hirvonen Grano Oy +358 400 522 041

CEO Juha Sarsama Panostaja Oyj +358 40 774 2099

 

Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in seven investment targets. Panostaja’s shares (PNA1V) are quoted on the NASDAQ OMX Helsinki Stock Exchange. In the 2016 financial year, the Group’s net sales totaled MEUR 172.5.

www.panostaja.fi