Conclusion of EAB Group Plc’s co-operation negotiations

EAB Group Plc, Inside Information, Stock Exchange Release, 7 April 2020, 9:30 a.m. (EET)

Conclusion of EAB Group Plc’s co-operation negotiations

EAB Group Plc (“Company”) announced on 19 March 2020 that it will start a substantial cost-savings programme and the co-operation negotiations related to the programme in all EAB Group companies (“Group”). The Group has concluded the co-operation negotiations on 6 April 2020. After the negotiations, the Group will lay off 6 persons, of which an employment contract for new tasks can be offered for one person. In addition, the Group will temporarily lay off all of its personnel for a period that corresponds to one month of work time during April through October 2020. With these measures the Group will achieve a total saving of more than 0,7 million euros in personnel costs during 2020.

”I am extremely sorry for the effect the rapid change in the market and the economic crisis will have on our entire personnel. Especially, I’m sorry for those persons, whose tasks will be ended. In spite of this difficult situation, I want to thank those persons for their valuable contribution for the Company”, says CEO Daniel Pasternack.

EAB GROUP PLC
Board of Directors

Further information:
EAB Group Plc

Daniel Pasternack, CEO
+358 50 569 3416
daniel.pasternack@eabgroup.fi

Elite Alfred Berg offers responsible investment and asset management services for private investors, institutions and professional investors. EAB Group uses the name Elite Alfred Berg as its marketing name. The Group's parent company EAB Group Plc’s share is listed on the Nasdaq Helsinki stock exchange. The Group companies include EAB Asset Management Ltd offering asset management activities, and EAB Fund Management Ltd acting as a fund company and authorised alternative investment fund manager. The Groups’ customer base consists of individuals and corporations that are served nationwide in 13 different locations. The Group employs 88 investment professionals, and over 20 tied agents provide its services. On behalf of its clients, the Group manages assets of over EUR 3 billion in total. Check out EAB Group’s services at www.eabgroup.fi.

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