SkiStar AB has been invited to participate in a preferential rights issue for shares in St. Johanner Bergbahnen GmbH. Acceptance of the offer means ownership of about 68 percent of the company’s shares. In conjunction with the offer, a letter of intent was signed between SkiStar and representatives of the three largest current shareholders (representing 91 percent of current shares) stating that they will not participate in the share issue.
Mats Årjes, SkiStar’s CEO:
“St. Johann is a good place to establish SkiStar in the Alps. Through our knowledge, the destination’s geographical location and a positive hotel expansion in St. Johann we see potential for developing the destination.”
St. Johann in Tyrol is a classic ski resort area located in the Austrian Tyrol 125 km from Munich and 95 km from Innsbruck, and borders on Kitzbühel. The ski area has about 300,000 skier days per year.
"Through this acquisition we will be able to offer our guests a European ski resort that complements our Scandinavian destinations. It also presents an opportunity to promote St. Johann as a SkiStar destination for a European audience with a focus on family ski experiences. We see our establishment in the Alps and St. Johann as a challenging, exciting step forward for our business model via the skistar.com portal and obviously for SkiStar as a Company, says Mats Årjes.
Record interest in this year’s ski season
Bookings for the current season at Skistar’s existing resorts in Sweden and Norway are a record 12 percent higher compared with the same period last year.
“It’s gratifying that bookings for the current season have reached record highs; every week until Easter has more bookings than last year,” says Mats Årjes.
SkiStar AB (publ) will hold its AGM in Sälen tomorrow, Saturday, 12 December, and will submit its first quarter report on 17 December 2015.
For further information, please contact:
Mats Årjes, CEO+46 (0)280 880 80
Åsa Wirén, CFO+46 (0)280 880 90
The SkiStar AB (publ) B shares are listed on the Nasdaq OMX Mid Cap Stockholm; the group owns and operates the ski resorts at the alpine skiing destinations Sälen, Åre and Vemdalen in Sweden together with Hemsedal and Trysil in Norway as well as Hammarbybacken in Stockholm. The market share in Sweden amounts to 51%, in Norway 30% and overall in Scandinavia 42%. The group’s core business is alpine skiing with the guests’ experience in focus. The list of other activities includes accommodation agency, ski schools and ski rentals.