Restamax Plc: RESTAMAX HAS FINALISED THE TUNTURIMAX BUSINESS TRANSACTION

Restamax Plc

STOCK EXCHANGE RELEASE 7 OCTOBER 2014, 12:00

Restamax has finalised the Tunturimax business transaction

On 6 October 2014, restaurant company Restamax Plc and the Rukakeskus Group finalised the Tunturimax business transaction, which was announced on 18 June 2014.

The object of the business transaction is the Tunturimax Oy joint venture, of which Restamax owns 65% and Rukakeskus 35%. The joint venture includes the restaurant operations of Rukakeskus Oy and its subsidiary Pyhätunturi Oy in Kuusamo and Pelkosenniemi.

Restamax paid MEUR 1.3 for its 65% share in the joint venture. The final purchase price will be determined on the basis of Tunturimax Oy's interim financial statements published on 30 September 2014. The estimated annual turnover of the businesses purchased once all units are open in 2015 will be approximately MEUR 6 and EBITDA approximately TEUR 600.

Through the transaction, Tunturimax Oy will become the owner of the Ruka-based restaurants Ravintola Piste and Hillside Grill as well as the restaurants of Hotel Pyhätunturi in Pyhä. This coming winter season, the company will also open a Ski Bistro and Stefan's Steakhouse in Ruka.

Additional information:
Markku Virtanen, Restamax Plc, CEO, tel. +358 400 836 477
Ville Aho, Rukakeskus Oy, CEO, tel. +358 400 895 987

Distribution:
NASDAQ OMX Helsinki
Major media
www.restamax.fi

Restamax Plc is a Finnish restaurant business group established in 1996 that also offers labour hire services. The company, which listed at NASDAQ OMX Helsinki Oy in 2013 and became the first Finnish listed restaurant company, has continued to grow steadily throughout its history. The group companies include approximately 80 restaurants, cafés, pubs and nightclubs all over Finland. Well-known restaurant concepts of the group include, among others, Gringos Locos, Bodega Salud, Viihdemaailma Ilona, Classic American Diner, Daddy's Diner, Stefan's Steakhouse and Wayne's Coffee Finland. Restamax Plc employs approximately 900 people, the Group's pro forma turnover in 2013 was MEUR 87.0 and EBITDA MEUR 13.3. Restamax company website: www.restamax.fi, Restamax consumer website: www.ravintola.fi

Rukakeskus Group has been in charge of Ruka's slope activities since 1973 and of Pyhä's slope activities since 1987. We are among the leading travel companies in Finland, as well as the market leader of the Finnish ski resort industry with our approximately 20% share of the ski lift ticket sales. We operate in the international, year-round travel centres of Ruka and Pyhä. Our core competence is in slope business activities, but we also practise accommodation, slope bistro, equipment rental and retail activities in Ruka and Pyhä. Our turnover is approximately MEUR 26 and we employ more than 200 people. Rukakeskus Oy is a family business, owned in equal 20% shares by siblings Kari Jussi Aho, Miia Porkkala, Annakaija Lappalainen, Antti Aho and Ville Aho. The Aho family also owns the Aho-Group, which includes the Aava Lääkärikeskus medical centre group, with a turnover of approximately MEUR 48 and a staff of 500. ski.ruka.fi, ski.pyha.fi