Suomen Hoivatilat Oyj
Stock Exchange Release, 9 May 2018, at 4:00 p.m. (EEST)
Suomen Hoivatilat Oyj: Partnera has decided to explore strategic alternatives for its ownership in Hoivatilat
Suomen Hoivatilat Oyj's ("Hoivatilat" or "Company") largest shareholder Partnera Oy has today published an announcement, according to which Partnera Oy's subsidiaries Nurture Property Holding Oy and Nurture Real Estate Holding Oy (together "Partnera") have decided to explore strategic alternatives for their ownership in Suomen Hoivatilat Oyj, including a potential arrangement or arrangements, which, if implemented, may lead to a reduction of ownership in one or several stages. Partnera is currently the largest shareholder of Hoivatilat and owns 4,767,012 Company shares, representing 18.74 percent of all shares and votes in Hoivatilat.
Background
Partnera made its current investment in Hoivatilat in 2015 prior to the Company's IPO. Hoivatilat was listed on the Nasdaq Helsinki's First North marketplace in March 2016. In the listing, Hoivatilat raised EUR 17 million of equity financing primarily from new investors. As Hoivatilat continued its strong growth, the Company made a decision to move on to the Nasdaq Helsinki main market in March 2017 and soon after the main market listing executed a new EUR 32 million directed issue. Partnera has remained as an owner of Hoivatilat through this phase, during which the real estate portfolio of Hoivatilat has almost tripled from EUR 90 million at the end of 2015 to EUR 268 million at the end of March 2018. In 2017, Partnera revised its own strategy. As a result of this revision process, Partnera has now decided to commence a review to explore strategic alternatives for its ownership in Hoivatilat.
"Having been a main shareholder of Hoivatilat through the phase of significant growth and development into a stock exchange listed Company, we have now, as part of our normal investment operations, decided to commence a thorough review in order to explore alternatives for our ownership in Hoivatilat", comments Partnera's CEO Jari Pirkola.
Partnera has engaged Skandinaviska Enskilda Banken AB (publ) Helsinki Branch to explore strategic alternatives regarding above mentioned study.
Oulu 9 May 2018
Suomen Hoivatilat Oyj
Jussi Karjula
CEO
Further information:
Jussi Karjula, Jussi.karjula@hoivatilat.fi, tel. +358 40 773 4054
Hoivatilat in brief:
Suomen Hoivatilat specialises in producing, developing, owning and leasing out daycare centre and nursing home premises, service blocks and schools. Hoivatilat was established in 2008 and cooperates with around 50 Finnish municipalities. It has started over 120 real estate projects throughout Finland. The company was listed on Nasdaq OMX Helsinki on 1 March 2017.