Restamax Plc

STOCK EXCHANGE RELEASE 27 NOVEMBER 2018 at 8:00 am

The Board of Directors of Restamax Plc proposes to the extraordinary general meeting that the company name be changed to NoHo Partners Plc. The new name comes from the words 'Nordic Hospitality Partners', which is intended to better communicate the changes that have taken place in business operations, the Group's strengths as well as its future goals and opportunities.

The proposal to change the name will be discussed as a proposal to change the articles of association at Restamax's extraordinary general meeting on 19 December 2018. The Group's shareholders Laine Capital Oy, PIMU Capital Oy and Mika Niemi, who represent some 55.6% of all votes conferred by the company's shares, have announced their support of the Board of Directors' proposal. If the Board of Directors' proposal is approved, the name change will officially enter into force immediately after the meeting.

"Our expansion to the international market and integration with Royal Ravintolat have served as engines for growth for our future. Our new name, NoHo Partners, indicates the core of our operations. 'Nordic' refers to our future growth market as well as to Nordic quality, which is appreciated and attractive worldwide. 'Hospitality' reflects our desire to expand our operations beyond conventional restaurant business, for example to large events and new digital sales channels. 'Partners', or the partner model, is the cornerstone of our operations and our key competitive advantage. We want to be an attractive partner for ambitious professionals," says Group CEO Aku Vikström.

The Board of Directors of Restamax Plc has approved the Group's updated long-term financial targets and strategy for the 2019-2021 strategy period.

The Group aims to achieve a turnover of over MEUR 600 and a profit margin of approximately 7.5 per cent by the end of 2021. The restaurant segment aims to achieve a turnover of approximately MEUR 350 and a profit margin of approximately 8 per cent. The target for the labour hire segment is a turnover of approximately MEUR 300 and a profit margin of approximately 6.5 per cent. The Group will update the estimate for the financial period on an annual basis in conjunction with the result release for the fourth quarter.

The key aims of the Group's new strategy are profitable growth in Finnish growth centres and large events organically, through new establishments and corporate acquisitions as well as digitally, international expansion to the Northern European market using the partner model as well as profitable growth in labour hire services organically and through corporate acquisitions. The Group will endeavour to increase dividend payments every year.

The Group will expand its restaurant operations abroad by opening new restaurant units in Denmark and Germany during 2019 with new partners.

Aku Vikström, CEO, Restamax Plc, tel. +358 44 011 1989

Jarno Suominen, CFO, Restamax Plc, tel. +358 40 721 5655

Nasdaq Helsinki

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