Alisa Bank Plc Arranges a Share Issue to Personnel and Establishes a New Matching Share Plan

ALISA BANK PLC STOCK EXCHANGE RELEASE 24.10.2024 AT 15.10 EEST

The Board of Directors of Alisa Bank Plc has resolved to arrange a directed share issue in which new shares of the company will be offered to the personnel for subscription. In addition, the Board of Directors has resolved to launch a matching share plan for the personnel. The purpose of the personnel share issue and the matching share plan is to encourage the personnel to acquire and own shares of Alisa Bank Plc on a long-term basis and commit them to work for the company.

Alisa Bank Plc announced the planning of the personnel share issue and the matching share plan on 17 January 2023.

Personnel Share Issue

In the personnel share issue, a maximum total of 1,807,229 new shares in the company will, in deviation from the shareholders’ pre-emptive subscription rights, be offered for subscription by the personnel of the company and its subsidiaries. The shares to be offered represent approximately 1.23 per cent of all shares and votes in the company before the personnel share issue and approximately 1.21 per cent after the personnel share issue, provided that all shares offered will be subscribed.

The subscription price is 0.1660 euros per share. The share subscription price is based on the trade volume weighted average price of the company share on Nasdaq Helsinki Ltd during the period from 1 September 2024 to 30 September 2024 and on a discount of ten (10) per cent thereof. The average price of the share during the period mentioned above was 0.1844 euros per share. The share subscription period is from 25 October 2024 to 15 November 2024. The minimum subscription is 3,012 shares per person, which equals in value a subscription price of approximately 500 euros, and the maximum subscription is 120,482 shares per person, which equals in value a subscription price of approximately 20,000 euros. The aggregate maximum subscription amount equals in value a subscription price of approximately 300,000 euros. The subscriptions must be paid in connection with the subscription. The subscription price will be credited to the company's reserve for invested unrestricted equity.

The terms and conditions of the personnel share issue are attached to this stock exchange release. The final result of the personnel share issue will be released approximately in week 47–48. 

The resolution on the share issue is based on the authorisation granted by the Annual General Meeting of Shareholders on 20 March 2024.

Matching Share Plan

In the matching share plan, the persons who subscribed for shares in the personnel share issue have the opportunity to receive matching shares gratuitously after a matching period of approximately three years. 

The prerequisite for receiving the reward is that the subscriber subscribes for company shares in the personnel share issue within the subscription limits set by the Board of Directors in advance. If the subscriber has held the shares subscribed in the personnel share issue and their employment or service relationship with a group company has continued until the reward payment date, the subscriber will receive matching shares gratuitously as a reward from the company according to the ratio decided by the Board of Directors. 

The rewards from the plan will be paid after the matching period that ends in 2027. The potential matching shares of the identified risk takers, however, will be paid in a deferred manner in accordance with the financial sector legislation in such a manner that the rewards will be paid to the participants after the end of the matching period within approximately four (4) years in five (5) instalments. For the identified risk takers, the payment of the reward instalments is followed by a one-year (1) retention period, during which the person cannot dispose of the shares paid as a reward.

The rewards will be paid partly in Alisa Bank Plc’s shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the employee. The maximum number of gross shares to be paid on the basis of the plan is approximately 1,807,229 Alisa Bank Plc shares (including the cash proportion of the reward), which corresponds to approximately EUR 322,410 calculated based on the volume weighted average price of Alisa Bank Plc’s share on 22 October 2024. The final number of matching shares depends on the number of shares subscribed by the participants in the personnel share issue and the fulfilment of the conditions set for the matching share payment. 

Alisa Bank Plc

Board of Directors

More information

Markku Pohjola, Chairman of the Board, [email protected], tel. + 358 50 1654

Alisa Bank in Brief

Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisapankki.fi