Evli Plc (“Evli”) and EAB Group Plc (“EAB”) announced on April 22, 2022 that they had signed a letter of intent to look into the possibility of combining their operations. In accordance with the letter of intent, the Boards of Directors of Evli and EAB have on May 31, 2022 signed the combination agreement and the merger plan in order to combine the companies through a merger.
The objective of the combination is to create a combined company that would be one of the leading companies on the Helsinki Stock Exchange to offer investing and wealth management services with a broad expertise and whose clientele would cover institutions, corporations, and private persons. After the combination, a broader range of products and services and a wider range of expertise will be available to its clients.
"We are very pleased to announce the progress of the merger of Evli and EAB. The merger is a logical next step in Evli's strategic goal to become a leading Nordic wealth manager building a sustainable future. Among other things, the merger will add new asset classes to Evli's service offering of alternative investment products and expand the incentive and reward business offering. With a broader range of services and new expertise, we will be even better equipped to serve our current and future clients according to their individual needs," says Maunu Lehtimäki, CEO of Evli.
After the completion of the merger, the shareholders of EAB will own approximately 9 percent of the shares and one (1) percent of the votes in the Combined Company and the shareholders of Evli will own approximately 91 percent of the shares and 99 percent of the votes in the Combined Company assuming that none of EAB’s shareholders will demand redemption of his/her shares at the EAB Extraordinary General Meeting resolving on the merger and that neither company issues new shares.
The completion of the merger is intended to be implemented during the second half of 2022 subject to, inter alia, that Evli has received the approval from the Financial Supervisory Authority for the change of ownership. Pursuant to the merger plan, the completion would take place on or about October 1, 2022.
Stock Exchange release: Evli Plc and EAB Group Plc have signed a combination agreement
The proposed combination will not require any action from Evli’s clients, who will continue to be served as usual before and after the proposed combination.
Evli’s contact persons and our Investor Service, tel. +358 9 4766 9701 (9.30 am. – 4.30 pm. EET on weekdays), or investorservice@evli.com, will be happy to assist you in any questions.
