Translate VBA Code

I have been sent a spreadsheet containing the following Macro, which is fair enough, only thing is, I don't understand the Macro, its too high for my extremely basic knowledge of VBA.

Private Sub CommandButton1_Click()
Dim rng As Range
Dim i As Integer
Dim sht1 As New Worksheet
Dim sht2 As New Worksheet
Set sht1 = Sheets(ActiveSheet.Range("D2").Value)
Set sht2 = Sheets(ActiveSheet.Range("D3").Value)
Set rng = sht1.Range("First_Line")
i = 0
Do Until sht1.Cells(rng.Row + i, 1) = ""
sht2.Range("Managers_Name") = sht1.Cells(rng.Row + i, 1)
sht2.PrintOut
i = i + 1
Loop
End Sub

translate this for me, step by step, as to what this Code is doing?