Restamax Plc, Eiran Musiikkiteatteri Oy and Musiikkiteatteri Palatsi Oy reach agreement on contractual dispute

Restamax Plc

STOCK EXCHANGE RELEASE 18/01/2016, 15:00

Restamax Plc, Eiran Musiikkiteatteri Oy and Musiikkiteatteri Palatsi Oy reach agreement on contractual dispute

Restamax Plc, Eiran Musiikkiteatteri Oy and Musiikkiteatteri Palatsi Oy have signed a conciliation agreement concerning case L 13/2199 that was pending at Helsinki District Court.

The case concerned an agreement signed on 23 August 2012 between Musiikkiteatteri Palatsi Oy and Restamax Plc regarding the acquisitions of certain assets, the transfer of certain liabilities to Restamax Plc and the purchase and sales of certain performances.

According to the terms of the conciliation agreement, Musiikkiteatteri Palatsi Oy commits to paying EUR 80,000 in damages to Restamax Plc. Restamax Plc abandons all other claims except those laid down in the agreement signed on 18 January 2016. Restamax's subsidiary Eiran Musiikkiteatteri Oy abandons all claims, as does Musiikkiteatteri Palatsi Oy. With the conciliation agreement, the parties do not have any claims to each other under the agreement signed on 23 August 2012.

The parties do not make public the other terms and conditions of the conciliation agreement.

Additional information:
Markku Virtanen, CEO, Restamax Plc, tel. +358 400 836 477
Jarno Suominen, CFO, Restamax Plc, tel. +358 40 721 5655

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 on NASDAQ OMX Helsinki Oy in 2013 as the first Finnish restaurant company, has continued to grow strongly throughout its history. The Group companies include some 100 restaurants and nightclubs throughout Finland. The company's well-known restaurant concepts include the von Trappe restaurants, Bodega Salud, Viihdemaailma Ilona, American Diner, Daddy's Diner, Stefan's Steakhouse, and the Galaxie and Space Bowling & Billiards entertainment centres. Restamax Plc employs between 900 and 1,100 people depending on the season. The turnover for 2014 was MEUR 86.7 and the EBITDA was MEUR 12.0.

Restamax company website: www.restamax.fi, Restamax consumer website: www.ravintola.fi