Kotipizza Group Oyj
Stock Exchange Release
27 June 2019 at 3:00 p.m. (EEST)
Orkla ASA Has Gained Title to All the Shares in Kotipizza Group Oyj and the Shares Will Delist from Nasdaq Helsinki
Orkla ASA (“Orkla”) has today placed security approved by the Arbitral Tribunal and thus gained title to all the shares in Kotipizza Group Oyj (“Kotipizza”) in accordance with Chapter 18, Section 6 of the Finnish Companies Act. After the security has been placed and the title to the shares transferred, the minority shareholders of Kotipizza being parties to the redemption proceedings are entitled to receive only the redemption price and the interest payable thereon.
Upon application by Kotipizza, Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) has on 17 June 2019 decided that Kotipizza shares will be delisted from the Official List of Nasdaq Helsinki after Orkla has gained title to all the shares in Kotipizza in the redemption proceedings in accordance with the Finnish Companies Act. The quoting of the Kotipizza shares on Nasdaq Helsinki ceases today in accordance with a separate release published by Nasdaq Helsinki.
After the delisting has taken place, Kotipizza is not subject to the periodic reporting obligation set out in the Securities Market Act and will thereby not publish a half-yearly report or other periodic financial reporting from the ongoing or future reporting periods.
CEO, Kotipizza Group Oyj
+358 207 716 743
CFO of Strategy, Development & New Growth Areas, Orkla ASA
+47 481 32 361
Kotipizza is a Finnish pizza chain founded in 1987. At the end of financial year 2018, the number of restaurants stood at 280. In the financial year 2018, the total sales of Kotipizza restaurants amounted to EUR 122.1 million. The Kotipizza chain and Kotipizza Oyj operating the chain are part of Kotipizza Group, alongside the supply and logistics company Helsinki Foodstock Oy, Chalupa Oy that operates the Mexican-style restaurant chain Chalupa, The Social Burger Joint Oy that operates the Social Burgerjoint restaurant chain, as well as the No Pizza restaurant concept, aimed for international markets, that opened its first restaurant in June 2018.
In the financial year 2018, Helsinki Foodstock had net sales of EUR 71.1 million, the total sales of Chalupa restaurants were EUR 2.3 million, the total sales of Social Burgerjoint restaurants were EUR 2.9 million and the total sales of No Pizza restaurant was EUR 0.4 million. In the same period, the Kotipizza Group had net sales of EUR 91.5 million with a comparable EBITDA of EUR 9.39 million.