Page 76 - Restamax Plc Annual Report 2017

terms of the overall benefit of the company and all of its Prospects for 2018
shareholders. The Board of Directors was authorised to
decide on the other matters related to share issues. The In accordance with its strategy, Restamax expects the
Share Issue Authorisation will expire at the end of the Group’s turnover to increase and profitability to remain
Annual General Meeting of 2018, however no later than 18 on a good level in both segments in the 2018 financial
months from the Annual General Meeting’s Share Issue period. The restaurant segment is expected to reach a
Authorisation decision. turnover of approximately MEUR 140 and in labour hire
a turnover of approximately MEUR 110 is expected, the
Key events occurring after the closing date total turnover being some MEUR 240 after eliminations.

Restamax Plc’s subsidiary engaging in the labour hire Restamax’s goal is to reach a turnover of approximately
business purchased the entire shareholding of Kymppi MEUR 400 by the end of 2020 after internal elimina-
Service Oy with a deed of sale dated 18 January 2018. The tions. The goal of the restaurant segment is to reach a
right of ownership and management was transferred on 1 turnover of approximately MEUR 200, and the goal of
February 2018. the labour hire segment is to reach a turnover of approx-
imately MEUR 220, by the end of 2020.
On 22 January 2018, Restamax announced plans to revamp
its organisation and the structure of its Executive Team.
Restamax’s operational organisation was divided into
three business units: Nightclubs, Food restaurants, and
Pubs&Entertainment, each with their own responsible
director. The position of Chief Procurement Officer (CPO)
was established to strengthen purchasing operations and
the efficiency thereof. The roles of sales and marketing
strategy were increased in the organisation and, for that
purpose, the position of Chief Commercial Officer (CCO)
will be established.
On 13 March 2018, Restamax communicated that the
Board of Directors has decided to review and evaluate the
listing of the labour hire business comprising its subsid-
iary Smile Henkilöstöpalvelut Oy and its subgroup on
the Nasdaq Helsinki Ltd Stock Exchange. The evaluation
process will be carried out during spring 2018.

Restamax Plc’s subsidiary engaging in the labour hire
business, Smile Henkilöstöpalvelut Oy, bought 80% of
the share capital of Adicio Oy. The right of ownership and
management will transferred on 3 April 2018.

On 23 March 2018, Restamax communicated that it will
expand its restaurant business operations to Denmark,
where it will operate through its subsidiary Restamax
Operations Denmark. The company will buy over 90%
of the Danish Cock’s & Cows and The Bird companies.
Ownership will be transferred on 4 April 2018.

76