Page 91 - Restamax Plc Annual Report 2017

5 ACQUIRED BUSINESS OPERATIONS

Changes in the shares of minority shareholders in 2017

On 27 January 2017, Restamax Plc purchased 20% of the share capital of Hernesaaren Ranta Oy. This increases Restamax
Plc’s shareholding in Hernesaaren Ranta Oy to 80%. The purchase price was EUR 597,851.92. As a result of the acquisition,
the share of minority shareholders decreased by TEUR 122.5 and earnings decreased by TEUR 475.3.
On 15 March 2017, Restamax Plc’s subsidiary Smile Henkilöstöpalvelut Oy bought an additional 10% share in Smile
Palvelut Ilo Oy (formerly Smile Palvelut Pori Oy). The purchase price was EUR 250.00. As a result of the acquisition, the
share of the minority shareholders increased by TEUR 4.2 and earnings decreased by TEUR 4.5. On 19 June 2017, Smile
Henkilöstöpalvelut Oy bought an additional 10% share in Smile Palvelut Ilo Oy. The purchase price was EUR 250.00. As a
result of the acquisition, the share of the minority shareholders increased by TEUR 7.6 and earnings decreased by TEUR
7.9. As a result of the transactions, Smile Henkilöstöpalvelut Oy now owns 100% of Smile Palvelut Ilo.

On 6 April 2017, Restamax Plc’s subsidiary Smile Henkilöstöpalvelut Oy bought an additional 30% share in Smile MMS Oy.
This increased the shareholding of Smile Henkilöstöpalvelut Oy in Smile MMS Oy to 100%. The purchase price was EUR
725,390.00. As a result of the acquisition, the share of the minority shareholders decreased by TEUR 82.1 and earnings
decreased by TEUR 643.3.

On 21 August 2017, Restamax Plc’s subsidiary Smile Banssi Oy bought an additional 15% share in Talous Bandora Oy. This
increased the shareholding of Smile Banssi Oy in Talous Bandora Oy to 66%. The purchase price was EUR 375.00. As a
result of the acquisition, earnings decreased by TEUR 0.4.
On 14 June 2017, Restamax Plc purchased an additional 20% share in Roska Yhtiöt Oy. This increases Restamax Plc’s
shareholding in Roska Yhtiöt Oy to 100%. The purchase price was EUR 60,400.00. As a result of the acquisition, the share
of the minority shareholders decreased by TEUR 4.8 and earnings decreased by TEUR 55.6.

On 16 November 2017, Restamax Plc subsidiary Smile Banssi bought additional shares in its subsidiaries as follows: an
18.18% minority holding in Smile Banssi Etelä Oy, a 20% minority holding in Smile Banssi Häme Oy, an 18.18% minority
holding in Smile Banssi Uusimaa Oy, a 20% minority holding in Smile Banssi Itä Oy, a 20% minority holding in Smile
Banssi Länsi Oy, a 20% minority holding in Smile Banssi Keski Oy, a 20% minority holding in Smile Banssi Lappi Oy, a 20%
minority holding in Smile Banssi Helsinki Oy, a 30% minority holding in Smile Banssi Safety Oy, a 20% minority holding
in Smile Banssi Kaakko Oy, a 20% minority holding in Smile Hoiva Oy and a 44% minority holding in Talous Badora Oy.
As a result of the transactions, Restamax Plc subsidiary Smile Banssi Oy owns 90.91% of Smile Banssi Etelä Oy, 100% of
Smile Banssi Häme Oy, 90.91% of Smile Banssi Uusimaa Oy, 100% of Smile Banssi Itä Oy, 100% of Smile Banssi Länsi Oy,
90% of Smile Banssi Keski Oy, 90% of Smile Banssi Lappi Oy, 100% of Smile Banssi Helsinki Oy, 100% of Smile Banssi
Safety Oy, 90% of Smile Banssi Kaakko Oy, 100% of Smile Hoiva Oy and 100% of Talous Bandora Oy. The purchase price was
EUR 800,000.00. As a result of the acquisition, the share of minority shareholders decreased by TEUR 34.6 and earnings
decreased by TEUR 765.4.

During the financial period, three private offerings of shares were carried out in Restamax Plc subsidiary Smile
Henkilöstöpalvelut Oy, in which a total of 1,870,212 new shares in Smile Henkilöstöpalvelut Oy were subscribed to. After
the offerings, Restamax Plc’s shareholding in Smile Henkilöstöpalvelut Oy is now 78.35%. As a result of the offerings,
the share of earnings belonging to the Group decreased by TEUR 433.9, the share of invested unrestricted equity fund
decreased by TEUR 1,088.6, and the share of minority shareholders increased by a total of TEUR 1,522.5.

Changes in the shares of minority shareholders in 2016

On 19 September 2016, the Group bought an additional 11 per cent share of Tunturimax Oy. As a result of the acquisition,
the Group now owns 76 per cent of the share capital of the company. The purchase price was TEUR 220.0. As a result of
the acquisition, the share of the minority shareholders decreased by TEUR 79.0 and earnings decreased by TEUR 141.0.

Restamax Plc’s subsidiary Smile Henkilöstöpalvelut Oy bought an additional 10% share in Smile Retail Oy (now Smile
Services Oy). Smile Henkilöstöpalvelut Oy owns 100 per cent of Smile Retail Oy (now Smile Services Oy) as a result of
the transaction. The purchase price was EUR 250.00. As a result of the acquisition, the share of minority shareholders
increased by TEUR 4.1 and earnings decreased by TEUR 4.1.

Restamax Plc’s subsidiary Kampin Sirkus Oy bought an additional 40% share in Markkinointitoimisto Aito Finland Oy.
As a result of this acquisition, Kampin Sirkus Oy now owns 100% of Markkinointitoimisto Aito Finland Oy. The purchase
price was EUR 0.00. As a result of the acquisition, the share of minority shareholders increased by TEUR 23.0 and earnings
decreased by TEUR 21.8.

CONSOLIDATED FINANCIAL STATEMENTS 91