EAB Group Plc commences change negotiations

EAB Group Plc, Stock Exchange Release, 21 September 2022, 10:00 a.m. (EET)

EAB Group Plc commences change negotiations

EAB Group Plc shall today on 21 September 2022 commence change negotiations in accordance with the Co-operation Act, upon request of Evli Plc. The negotiations will involve personnel of EAB Group Plc, which will merge into Evli Plc on or about 1 October 2022, and personnel of EAB Varainhoito Oy, EAB Rahastoyhtiö Oy and Elite Vakuutuspalvelu Oy, which are becoming part of Evli Group on the aforesaid date.

The change negotiations also involve Evli Group’s personnel in Finland in the Wealth Management and Investor Clients and Group Operations segments, excluding certain Evli’s functions that are not expected to overlap with EAB’s functions after the merger has taken place.

EAB Group Plc announced on 31 May 2022 the signing of a combination agreement with Evli Plc relating to the merger. The completion of the merger is estimated to occur on 1 October 2022. Evli’s reorganisation plan, which aims to clarify and increase the effectiveness of Evli’s organisation emerging from the merger and from its part enable reaching the synergy targets set for the combination published in the release on 31 May 2022, will be handled in the negotiations. The plans to be handled in the change negotiations can, if materialised, lead to a reduction of a maximum of 44 permanent employment relationships. Evli aims to be able to adopt the planned organisation on or about 11 November 2022.

EAB GROUP PLC
Board of Directors

Further information:

EAB Group Plc

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

Therese Cedercreutz, Chair of the Board
+358 40 544 2502
therese.cedercreutz@miltton.com

Elite Alfred Berg offers responsible investment and asset management services for private investors, institutions, and professional investors. Elite Alfred Berg is the marketing name of the EAB Group. The Group's parent company EAB Group Plc’s shares are listed on the Nasdaq Helsinki stock exchange. The Group companies include EAB Asset Management Ltd, which offers asset management activities, and EAB Fund Management Ltd, which acts as a fund company and authorised alternative investment fund manager. The Group’s customer base consists of individuals and corporations that are served nationwide in 13 different locations. The Group employs 95 investment professionals, and more than 20 tied agents provide its services. On behalf of its clients, the Group manages assets of EUR 3.5 billion. Explore EAB Group’s services at www.eabgroup.fi.

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