Trainer's House Oyj - Company Announcement

TRAINERS’ HOUSE HAS DECIDED TO POSTPONE THE PAYMENT OF INTERESTS OF THE HYBRID BOND

Espoo, 2012-12-17 09:30 CET (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC, STOCK
EXCHANGE RELEASE, 17 DECEMBER 2012 AT 10:30 

Trainers' House Plc announced on 15 January 2010 the issue of a EUR 5 million
hybrid bond. According to the terms of the hybrid bond, the company has the
right to decide, subject to certain conditions set out in the terms, to either
pay the accrued interests annually or to postpone the payment of any interests.
In 2011 and 2012 Trainers' House paid the accrued interests. Now Trainers'
House has decided to postpone the payment of the interests accrued for the
hybrid bond until further notice. The purpose of the postponement is to
strengthen the financial position of the company and to ensure that the company
complies with the terms of its debt financing. Based on the terms of the hybrid
bond the company must pay all postponed interests, together with interest
thereon, at the latest if, for example, the company pays dividend higher that
the minority dividend defined in the Finnish Companies Act or otherwise
distributes funds to its shareholders. The company aims to refinance the entire
hybrid bond in the medium term. 


TRAINERS' HOUSE PLC

Vesa Honkanen
CEO


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

DISTRIBUTION
Nasdaq OMX Helsinki
Main media
www.trainershouse.fi

Attachments:

Porssitiedote 17.12.2012 ENG.pdf