Fellow Finance initiates employee cooperation negotiations for temporary lay-offs in Finland

FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 2.4.2020 AT 9.00 AM

The exceptional circumstances caused by the coronavirus pandemic impact Fellow Finance’s business. Due to this Fellow Finance initiates employee cooperation negotiations on April 8, 2020, with the personnel in Finland for temporary lay-offs. The temporary lay-offs would last for a maximum of 90 days.

The negotiations concern the entire personnel in Finland. At this stage, the details concerning temporary lay-offs cannot be estimated, as these will be determined in the course of the negotiations.

”The coronavirus outbreak has affected the global market environment. Unfortunately, these measures are necessary in order to adjust our cost levels in the changed and exceptional business environment,” says Fellow Finance’s CEO Jouni Hintikka.

FELLOW FINANCE PLC

Further enquiries:

Jouni Hintikka, CEO, Fellow Finance, jouni.hintikka@fellowfinance.fi, +358 40 585 5009

Certified advisor, Evli Bank Plc, tel. +358 40 579 6210

Fellow Finance Plc started its operations in 2014. The company is an expansive global FinTech group that provides crowdfunding services. A key role in the company’s business services is played by the leading Nordic¹ loan-based crowdfunding and peer-to-peer platform maintained by the company which has already been used by more than 850 000 customers in approximately 70 countries. Fellow Finance Plc is an Authorized Payment Institution supervised by the Finnish Financial Supervisory Authority of Finland and the shares of Fellow Finance Plc are listed on the Nasdaq First North Growth Market Finland marketplace. The company has approximately 2 500 shareholders.

¹Measured by the amount of financing facilitated. Source: Brismo Market Data (data accessed on 2 April 2020).

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