Fellow Finance Plc conducts a directed share issue relating to management incentive bonus
FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 5 AUGUST 2019 AT 3:30 PM
Fellow Finance Plc (“Fellow Finance” or the “Company”) conducts a directed share issue relating to management incentive bonus.
The Board of Directors of Fellow Finance Plc has resolved in its meeting on 5 August 2019 to conduct a directed share issue relating to the incentive bonus for the Company’s management team member Antoni Airikkala, by virtue of the authorization granted to it by Annual General Meeting on 3 April 2019. Based on the synthetic option contract resolved on prior to the listing of the Company, the Company has paid Airikkala the maximum outcome of EUR 0.7 million, as certain operational goals were met by 30 June 2019. Airikkala uses the majority of the net proceeds to subscribe for 45,000 shares with a subscription price per share of EUR 7.14.
The new shares are intended to be registered in the Trade Register as soon as possible and to be admitted for trading on Nasdaq First North Finland marketplace.
Further enquiries
Jouni Hintikka, CEO, Fellow Finance Plc
jouni.hintikka@fellowfinance.fi
+358 40 585 5009
Certified Adviser:
Evli Bank Plc, tel +358 40 579 6210
Fellow Finance in brief
Fellow Finance Plc started its operations in 2014. The company is an expansive global FinTech group that provides crowdfunding services. A key role in the company’s business services is played by the leading Nordic¹ loan-based crowdfunding and peer-to-peer platform maintained by the company which has already been used by more than 660,000 customers in approximately 60 countries. Fellow Finance Plc is an Authorized Payment Institution supervised by the Finnish Financial Supervisory Authority of Finland and the shares of Fellow Finance Plc are listed on the Nasdaq First North Finland marketplace. The company has approximately 2,900 shareholders.
¹Measured by amount of financing facilitated. Source: Brismo Market Data (data accessed on 5 August 2019).