AVIDLY TO COMPLETE CO-OPERATION NEGOTIATIONS

Avidly Plc, Company Announcement 7 Feb 2019 at 8:30 EET

Avidly’s contract with the Finnish retail company SOK on outsourcing the production of marketing materials, signed on 1 January 2017, was discontinued on 31 December 2018 as communicated earlier. Following the discontinuation, Avidly began co-operation negotiations at the Helsinki office and announced that the planned actions could affect a maximum of 35 employees. Avidly completed the co-operation negotiations today and as a result, 7 employees will become redundant and 11 will be temporarily laid off until further notice. In addition, 11 persons working in the department mostly affected by the SOK deal have moved over to other companies. As a result of the personnel changes, Avidly will book an estimated one-time cost of EUR 0.1 million in its half-year result for the first six months of 2019.

At the same time, Avidly introduced an organisational change at the Helsinki office of its Marketing Services business area with an aim to better respond to the growth and profitability targets set in the new strategy by supporting the marketing-as-a-service business model.


AVIDLY PLC
BOARD OF DIRECTORS


Further information:
Jyrki Vaittinen, CEO, tel. +358 40 703 1662

Merasco Oy acts as Avidly Plc’s Certified Advisor, tel. +358 9 6129 670

Avidly (former Zeeland Family) is Finland’s leading marketing service provider and a leading marketing automation company in the Nordics, listed on the Nasdaq First North marketplace in Helsinki. We create an atmosphere for growth to take our customers forward. We are a team of more than 230 navigators and explorers, makers and shakers in 15 locations in Finland, Sweden, Norway and Denmark. www.avidlyagency.com