In January 2023, United Bankers Plc shall carry out an Additional Share Issue in relation to the 2019 Share Issue to Employees and Tied Agents
United Bankers Plc
STOCK EXCHANGE RELEASE 13 December 2022 at 18:30
In January 2023, United Bankers Plc shall carry out an Additional Share Issue in relation to the 2019 Share Issue to Employees and Tied Agents
In the fall of 2019, United Bankers Plc arranged an issue of shares for consideration to the employees and management of the company and of its subsidiaries, and to the members of the company’s Board of Directors (the ”Employee Share Issue”) and to its tied agents (the ”Tied Agent Share Issue”). A total of 400,000 new shares were issued, subscribed and paid for in the Employee Share Issue and in the Tied Agent Share Issue in the fall of 2019.
The Board of Directors of United Bankers Plc has resolved to carry out the additional share issues in accordance with the terms and conditions of the Employee Share Issue and the Tied Agent Share Issue (the “Additional Share Issues”). The terms and conditions of the Additional Share Issues were published through a company release on 4 September 2019. Shares of the company shall be offered in the Additional Share Issue as remuneration to the participants of the Employee Share Issue and of the Tied Agent Share Issue in directed share issues without consideration in deviation of pre-emptive subscription rights of the shareholders. The participant must have subscribed for shares in the company in the Employee Share Issue or in the Tied Agent Share Issue within the confines of the minimum and maximum amounts confirmed by the Board of Directors as a prerequisite for receiving such remuneration. Furthermore, the participant must hold no less than the number of shares they subscribed for in the Employee Share Issue or in the Tied Agent Issue at the expiration of the vesting period. The vesting period commenced on 1 October 2019 and shall expire on 15 December 2022. The Participant shall receive shares without consideration from the company as remuneration, provided, that the requirement concerning the participant’s shareholding threshold has been met, and that the participant’s employment, service or tied agent relationship is in force with the company or a company belonging to the same group of companies at the time of expiration of the vesting period.
According to a tentative estimation, no more than approximately 129,400 shares in the company shall be issued in the Additional Share Issues, of which approximately a total of 68 per cent, i.e., 86,250 shares, would constitute new shares in the company, and the remaining approximately 40,000 shares would be treasury shares held by the company. The estimated number of new shares in the company to be issued would represent approximately 0.8 per cent of all the shares in the company as at the date of this stock exchange release. An estimated total of approximately 63,900 shares would be issued to those who participated in the Employee Share Issue, in addition to which approximately 50 per cent of the calculated estimated amount (approximately 127,800 shares) would be paid in cash. Approximately 65,500 shares would be issued in the Tied Agent Issue. The Board of Directors shall resolve upon the final size of the Additional Share Issues and the terms of the Additional Share Issues in January 2023. The resolution on the Additional Share Issues is to be made on the basis of the share issue authorization granted to the Board of Directors by the Annual General Meeting of Shareholders on 23 March 2022. The objective of the Additional Share Issue is to reward the employees and the tied agents for their long-term commitment to the company and for their shareholding in the company.
For further information, please contact:
Patrick Anderson, CEO, United Bankers Plc
Email: patrick.anderson@unitedbankers.fi
Telephone: +358 400 244 544, +358 9 25 380 236
Katri Nieminen, CFO, United Bankers Plc
Email: katri.nieminen@unitedbankers.fi
Telephone: +358 50 564 4787, +358 9 2538 0349
Investor Relations: ir@unitedbankers.fi
United Bankers in brief:
United Bankers Plc is a Finnish expert on wealth management and investment markets, established in 1986. United Bankers Group’s business segments include wealth management and capital markets services. In asset management, the Group specializes in real asset investments. United Bankers Plc is majority-owned by its key personnel and the Group employs 149 employees (FTE) and 31 agents (30 June 2022). In 2021, the United Bankers Group’s revenue totalled EUR 43.8 million and its adjusted operating profit amounted to EUR 14.4 million. The Group’s assets under management amount to approximately EUR 4.6 billion (30 June 2022). United Bankers Plc’s shares are listed on Nasdaq Helsinki Ltd. The Group companies are subject to the Finnish Financial Supervisory Authority’s supervision. For further information on United Bankers Group, please visit www.unitedbankers.fi.
DISTRIBUTION:
Nasdaq Helsinki
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