Rush Factory Plc agrees to appoint Hans Niemi as CEO of the company conditional on the completion of the share exchange between Rush Factory Corporation and Sunborn International Holding Oy

Company Announcement

Rush Factory Plc 

March 18, 2025 at 14:10 

Rush Factory Corporation (“Rush Factory”) announced on December 5, 2024 that Rush Factory, Sunborn Oy, PM Ruukki Oy, Jerovit Investment Oy and Oy Haapalandia Invest Ltd have signed a share exchange agreement, according to which it will acquire Sunborn International Holding Oy (“SBIH”) through a share exchange (the “Share Exchange”). The implementation of the share exchange requires its approval by a two-thirds majority of the votes cast and shares represented at an extraordinary general meeting of Rush Factory (“Extraordinary General Meeting”). 

In preparation for the completion of the Share Exchange, Rush Factory has today signed a conditional CEO agreement with Hans Niemi, the current CEO of SBIH. The entry into force of the CEO Agreement is conditional on the completion of the Share Exchange and the approval of the new Board of Directors elected at the Extraordinary General Meeting. 

Hans Niemi has served as CEO and member of the Board of Directors of SBIH since 2020 and as Chairman of the Board of Directors since 2021. Niemi has over 20 years of experience in the hotel industry and real estate development in the Sunborn Group. In addition, the Board of Directors of Rush Factory intends to propose to the Extraordinary General Meeting that Niemi be elected to the Board of Directors of Rush Factory as of the completion of the Share Exchange. 

Rush Factory’s current CEO, Mika Metsämäki, will continue in his position until Niemi’s CEO Agreement enters into force. 

For more information: 

Mika Metsämäki, CEO

Rush Factory Plc

mika@rushfactory.fi

+358 44 5544 894 

Approved advisor: Nordic Certified Adviser AB, tel. +46 70 551 67 29 

Distribution: 

Nasdaq

Helsinki Key media

www.rushfactory.fi

Rush Factory 

Rush Factory is an international experience factory that develops and implements unique event and experience concepts. Based in Rauma, Rush Factory's international wellness-focused sports and experience event tours have provided fun and unforgettable experiences to over 400,000 customers since 2015. Rush Factory's growth and business are supported by the Company's business model, which challenges the industry's traditional operating models by solving typical problem areas in event production and implementation, e.g. by reducing the risks and costs of outsourcing, and by being independent of the venue or performer. In addition, the mobile nature of Rush Factory's business and its ability to bring unique event experiences to where customers are, allows it to be independent of market cycles. 

Sunborn International 

Sunborn International is an innovative developer, owner and operator of high-quality yacht hotels and other floating real estate with global operations. Yacht hotels and floating real estate offer an opportunity to utilise unused water space in city harbours and prestigious waterfront locations. 

Sunborn International currently owns two yacht hotels located in London and Gibraltar, which combine exclusive accommodation, restaurant services, conference and event venues. Sunborn International is an industry pioneer, with extensive experience in shipbuilding and vessel design as well as developing waterfront areas and harbours and tackling permitting processes in various countries. The company is actively expanding into new markets, with yacht hotel development projects in London, Vancouver and around the world. 

Further information: www.sbih.group