The personnel offering of Mandatum plc was oversubscribed

Mandatum plc, Stock exchange release, 6 September 2024 at 12:00 p.m. EEST

The Board of Directors of Mandatum plc (the “Company”) resolved on the basis of share issue authorisation granted by the 2024 Annual General Meeting on 13 August 2024 on a personnel offering directed to the personnel of the Company and its subsidiaries, and the CEO of the Company. In the personnel offering, a maximum total of 250,000 new shares in the Company were offered for subscription. In the event of an oversubscription, the Board of Directors had according to the terms and conditions of the personnel offering the right to decide on increasing the number of shares offered up to a maximum total of 900,000 shares. Subscription commitments were given for a total of 1,246,240 shares during the subscription period, which meant that not all subscription commitments could be accepted in full. The subscription period for the personnel offering ended on 30 August 2024. Subscription commitments were given by a total of 394 members of the personnel.

The subscription price was EUR 3.74 per share, which was based on the volume weighted average price of EUR 4.15 of the Company's share on Nasdaq Helsinki Ltd during the calendar month preceding the Board of Directors’ decision on the share issue, i.e. during the period from 1 July 2024 to 31 July 2024, and a discount of ten (10) per cent calculated from it.

Due to significant excess demand, the Board of Directors decided on 6 September 2024 to increase the number of new shares offered in accordance with the terms and conditions of the personnel offering to a total of 900,000 shares and to accept the subscription commitments made by each person participating in the personnel offering up to a total of 5,000 shares and for approximately 30.8 per cent of the excess shares. The Board of Directors therefore approved the subscription of a total of 900,000 new shares at a total subscription price of EUR 3,366,000.

The shares subscribed in the personnel offering correspond to approximately 0.18 per cent of all the shares and voting rights in the Company prior to the personnel offering and approximately 0.18 per cent after the personnel offering. The shares subscribed in the personnel offering are subject to a lock-up period, which ends 360 days after the end of the subscription period, i.e. on 25 August 2025.

“We are delighted to see that such a large share of Mandatum’s personnel participated in the personnel offering: over half of our employees made a subscription. The purpose of the offering was to encourage our personnel to acquire and own Mandatum’s shares and to commit them to our long-term strategy and goals. We succeeded very well in this,” says Patrick Lapveteläinen, Chair of the Board of Directors of Mandatum.

The new shares that have been issued in the personnel offering will be registered in the Trade Register on or about 13 September 2024 and admitted to trading on Nasdaq Helsinki Ltd on or about 16 September 2024. The total number of issued shares in the Company will be 502,696,752 shares after the registration of the new shares in the Trade Register. The total proceeds from the new shares issued in the personnel offering will be recorded entirely in the Company's reserve for invested unrestricted equity.

Additional information:

Investor enquiries
Lotta Borgström
VP, Investor Relations
Tel. +358 50 022 1027
lotta.borgstrom(a)mandatum.fi

Media enquiries
Niina Riihelä
SVP, Communications, brand and sustainability
Tel. +358 40 728 1548
niina.riihela(a)mandatum.fi
 

Mandatum in brief
Mandatum is a major financial services provider that combines expertise in wealth management and life insurance. Mandatum offers clients a wide array of services covering asset and wealth management, savings and investment, compensation and rewards as well as pension plans and personal risk insurance. Mandatum offers services to corporate, retail, institutional and wealth management clients. At the centre of Mandatum's success are highly skilled personnel, a strong brand as well as a proven investment track record.
mandatum.fi/en/group

Distribution:
Nasdaq Helsinki
Financial Supervisory Authority
The principal media
www.mandatum.fi