Musti Group Plc: Announcement of a change in shareholding according to Chapter 9, Section 10 of the Finnish Securities Market Act
Stock Exchange Release 21 February 2020, at 9:35 a.m.
Musti Group Plc (the "Company") has today received a notification in accordance with the Chapter 9, Section 10 of the Finnish Securities Market Act from EQT Mid Market GP B.V. ("EQT"), according to which EQT's indirect holding of the shares and votes of the Company totals to 24.10 percent and EQT's holding through financial instruments decreased below the threshold of 5 percent.
The change was due to a share lending agreement signed by Millan Holding S.à.r.l., a company ultimately owned by EQT and its co-investors, and Nordea Bank Abp ("Nordea") in connection with the Initial Public Offering of the Company on 13 February 2020, according to which EQT has on 17 February 2020 lent 2,716,372 existing shares in the Company to Nordea. Nordea has on 21.2.2020 notified the Company that it will fully exercise the over-allotment option, described in the Company's offering circular dated 31 January 2020, to purchase shares from EQT up to the amount corresponding to the shares lent by EQT to Nordea in order to cover over-allotments. Nordea will purchase 2,716,372 shares in the Company from EQT in accordance with the over-allotment option. As a result, EQT's indirect holding in the Company totals to 8,080,469 shares and votes (amounting to 24.10 percent of all the shares and votes in the Company) and EQT's holding through financial instruments will decrease to zero, i.e. below the threshold of 5 percent.
Total positions of EQT Mid Market Fund:
| % of shares and voting rights (total of A) |
% of shares and voting rights through financial instruments (total of B) | Total of both in % (A + B) |
Total number of shares and voting rights of issuer | |
| Resulting situation on the date on which threshold was crossed or reached | 24.10 % | N/A | 24.10 % | 33,535,453 |
| Position of previous notification (if applicable) | 24.10 % | 8.10 % | 32.20 % | 33,535,453 |
Notified details of the resulting situation on the date on which the threshold was crossed or reached:
A: Shares and voting rights
| Class/type of shares | Number of shares and voting rights | % of shares and voting rights | ||
| ISIN code (if possible) | Direct (SMA 9:5) |
Indirect (SMA 9:6 and 9:7) |
Direct (SMA 9:5) |
Indirect (SMA 9:6 and 9:7) |
| FI4000410758 | N/A | 8,080,469 | N/A | 24.10 % |
| SUBTOTAL A | 8,080,469 | 24.10 % | ||
Information in relation to the person subject to the notification obligation:
| Full chain of controlled undertakings through which the shares, voting rights or financial instruments are effectively held (starting with the ultimate controlling natural person or legal entity): | |||
| Name | % of shares and voting rights | % of shares and voting rights through financial instruments | Total of both |
| EQT Mid Market Limited Partnership | 0 | 0 | 0 |
| Millan Holding S.à.r.l. | 24.10 % | 0 | 24.10 % |
Additional information
Robert Berglund, CFO, Musti Group Plc, tel. +358 50 534 8657, robert.berglund@mustigroup.com
Musti in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.
Musti Group’s net sales were EUR 247 million in the financial year 2019. At the end of the financial year 2019, the company had 1,100 employees, over one million loyal customers and 277 stores.