Hartwall Capital Ltd.
3 December 2019
Free for publication
Hartwall Capital has sold part of its holding in Stockmann plc
HC Holding Ltd (“Hartwall Capital”, a wholly owned subsidiary of Hartwall Capital Ltd.) has sold part of its holding in Stockmann plc (“Stockmann”). Hartwall Capital has on 3 December 2019 sold 2.3 million Stockmann B series shares which amounts to approximately 3.2 per cent of all Stockmann shares and 0.7 per cent of all votes. The shares were sold to Finnish investors. The total purchase price of the share sale amounted to circa EUR 4.3 million. In conjunction with the share sale, Hartwall Capital has, subject to certain exceptions, undertaken not to sell its remaining Stockmann shares until Stockmann has released its interim report for Q1 2020.
Following the share sale Hartwall Capital’s holding in Stockmann is 3 186 488 A series shares and 2 929 126 B series shares, which represents approximately 8.5 per cent of all shares and 10.0 per cent of all votes in Stockmann. Skandinaviska Enskilda Banken Ab (publ), Helsinki branch (”SEB”) acted as sole bookrunner for the share sale.
”Hartwall Capital is a long-term owner and we have been an active shareholder in Stockmann for ten years. As an investment company, we regularly evaluate alternatives concerning our holdings, and based on diligent consideration we have decided that now is the right time for us to reduce our holding in Stockmann. After the share sale, we consider Stockmann a finance investment for us. Therefore, we will not pursue an active role as an owner, contrary to the role we have had in the past years”, says Niko Mokkila, the Head of Investment Operations at Hartwall Capital Ltd.
This release is for information purposes only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell, issue or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.