Panostaja's investment target Grano starts change negotiations

Panostaja Oyj Stock Exchange Bulletin, Insider Information January 23, 2024 11.00 a.m

Panostaja's investment target Grano starts change negotiations

Panostaja Plc's investment target Grano will start change negotiations targeting all Grano Group personnel, excluding its subsidiary Grano Diesel. Change negotiations will be initiated to improve the company's profitability and strengthen the company's long-term competitiveness.

The planned structural and organisational changes and other cost-saving measures are estimated to result in annual cost savings of approximately EUR 4.5 million. The savings targets are expected to be fully realised in the financial year 2025.

If the plans are implemented, they may lead to the termination of employment contracts of a maximum of 84 employees, changes in the terms of employment or part-time employment. In addition, due to the current market situation, temporary and open-ended temporary lay-offs may be possible.

Panostaja Oyj

Tapio Tommila
CEO

Additional information:

CEO Tapio Tommila, Panostaja Oyj, +358 40 527 6311
CEO Kimmo Kolari, Grano Oy, +358 40 769 5807

Panostaja is an investment company developing Finnish companies in the growing service and software sectors as an active shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in four investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2023 financial year, the Group’s net sales totaled MEUR 136,2.

https://panostaja.fi/en/