Tiimari Plc
Stock exchange release 29 December 2011 at 15.55
Tiimari Group has agreed on its bank facilities agreement’s financial covenants regarding EBITDA, minimum liquid assets and equity ratio for years 2011 to 2014 and on an increase to the bank guarantee facility provided by the facilities agreement by EUR 0.4 million to 2.6 million.
At the same time the company has strengthened its liquidity by agreeing with its parent company Unioca Ltd on an unsecured loan of EUR 2.0 million and with its bank financier on the ongoing right to utilize, in deviation of the previous bank facilities agreement’s so called cleandown terms and conditions, the EUR 14.0 million revolving credit and overdraft facilities up to EUR 2.0 million on January 2012.
TIIMARI PLC
Niila Rajala, CEO
Further information:
CEO Niila Rajala
tel. +358 (0)3 812911, e-mail: niila.rajala@tiimari.fi
Distribution:
NASDAQ OMX Helsinki
Main media
www.tiimari.com
Tiimari Plc is a listed company. The group consists of two retail shop concepts: Tiimari and Gallerix. These two concepts do business in five countries within the Baltic Sea region and there are altogether nearly 300 shops. All concepts belong to the forerunners of their market segment.