Aktia Bank Plc
Stock Exchange Release
27 September 2021 at 6.00 p.m.
Aktia’s employee share issue was oversubscribed – over one third of the personnel participated in the share issue
On 31 August 2021, the Board of Directors of Aktia Bank Plc (Board) decided on the employee share issue. A maximum total of 1,000,000 new shares in the company was offered for subscription to the personnel of the Aktia Group companies. The subscription period ended on 22 September 2021.
The subscription price for the share was EUR 10.14 per share, based on the trade volume weighted average price of the company’s share on Nasdaq Helsinki Ltd during 1–31 July 2021 and at a 10 per cent price reduction. The minimum subscription was 500 shares and the maximum subscription 70,000 shares. The subscribed shares are subject to a transfer restriction: a subscriber has no right to sell 50 per cent of the shares subscribed within 18 months, and 50 per cent of the shares subscribed within 36 months of the registration of the shares on a subscriber’s book-entry account.
The employee share issue was oversubscribed, and the Board decided to increase the number of the new shares offered according to terms and conditions of the share issue. The Board approved all subscriptions in connection to the employee share issue, i.e. a total of 1,371,500 new shares. The subscription price of the shares amounts to EUR 13,907,010 in total, which will be credited to the reserve for the Company’s invested unrestricted equity. A total of 336 company employees subscribed shares in the share issue.
”I am very pleased with the outcome of the employee share issue. The premise for the employee share issue was to engage and encourage our personnel in becoming shareholders in Aktia and thus to long-term work to increase shareholder value. The issue was oversubscribed, which is a strong indication of the personnel’s confidence in Aktia's future,” says Aktia’s CEO Mikko Ayub.
The new shares approved in the employee share issue are expected to be entered into the Trade Register on 30 September 2021 and to be applied for public trading on 1 October 2021. After the Trade Register entry of the new shares, Aktia Bank Plc’s total number of shares will be 72,087,006. The shares subscribed to in the share issue represent a total of 1.9 per cent of the company´s shares and votes of the shares after the share issue. As some of the personnel financed their subscription through a loan granted by Aktia, the share issue has no significant impact on Aktia’s CET1 capital adequacy.
The company has in 2021 received shares which have been returned to it in accordance with the terms of various commitment and remuneration programmes, which means that the company holds a total of 307,107 own shares.
Aktia Bank Plc
Mikko Ayub, CEO
tel. +358 10 247 5121
Nasdaq Helsinki Ltd
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 900 people around Finland. Aktia's assets under management (AuM) on 30 June 2021 amounted to EUR 15.6 billion, and the balance sheet total was EUR 11.2 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.