The completion of United Bankers Plc’s intra-group corporate arrangements has been registered
United Bankers Plc
STOCK EXCHANGE RELEASE 31 December 2023 at 10:00 EET
The completion of United Bankers Plc’s intra-group corporate arrangements has been registered
The completion of United Bankers Plc’s group internal corporate arrangements, as announced on 19 June 2023 and 5 December 2023, has been registered in the trade register maintained by the Finnish Patent and Registration Office today 31 December 2023.
The corporate arrangements were completed as mergers and demerger of wholly owned subsidiary companies of United Bankers.
UB Securities Ltd demerged in accordance with the Finnish Companies Act in as a full demerger, in which the acquiring companies were UB Asset Management Ltd and a new United Bankers’ wholly owned subsidiary company established in connection with the completion of the demerger. All licensed operations, including custodial services and payment services were transferred to UB Asset Management. The new company created by the demerger of UB Securities will focus on Corporate Finance advisory services, i.e. advisory services in connection with mergers and acquisitions and Nasdaq Certified Adviser activities. The demerged company has been dissolved on the completion date.
Simultaneously, both of UB Brokerage Company Ltd and UB Life Ltd merged into UB Asset Management in separate transactions. UB Life was UB Brokerage Company’s subsidiary and an insurance intermediary. The mergers were completed as sister and subsidiary company mergers in accordance with the Finnish Companies Act. As a result the United Bankers Group’s insurance business was concentrated to Finland, and the branch office of UB Life in Luxembourg was closed down.
For more information, please contact:
Patrick Anderson, CEO, United Bankers Plc
Email: patrick.anderson@unitedbankers.fi
Phone: +358 400 244 544, +358 9 25 380 236
Nina Rosenlew, General Counsel, United Bankers Plc
Email: nina.rosenlew@unitedbankers.fi
Phone: +358 40 522 6519, +358 9 25 380 261
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 163 employees (FTE) and 31 agents (30 June 2023). In 2022, the United Bankers Group’s revenue totalled EUR 48.6 million and its adjusted operating profit amounted to EUR 16.6 million. The Group’s assets under management amount to approximately EUR 4.6 billion (30 June 2023). 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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