Evli Awards Management Oy expands operations to incentive program design by merging with Alexander Incentives Oy

EVLI BANK PLC STOCK EXCHANGE RELEASE SEPTEMBER 30, 2020 AT 9.00 AM (EET/EEST)

Inside information

On September 30, 2020, Evli Bank Plc and the owners of Alexander Incentives Oy have signed an agreement on a share exchange between Evli Awards Management Oy (“EAM”) and Alexander Incentives Oy, in which EAM will acquire 100 percent of Alexander Incentives Oy's shares. In return, EAM will issue new shares, bringing the minority stake to 35 percent of the company's shares. Evli Bank's holding in the company is 65 percent.

By merging the operations, the new company can serve its clients through the whole value chain of incentive programs, from planning to management and implementation. The joint operations will be offered under the name Evli Alexander Incentives Oy.

EAM, a subsidiary of Evli Bank Plc, offers a wide range of incentive program management services to listed and unlisted companies in Finland and Sweden. Alexander Incentives Oy offers advisory services related to the design of share-based incentive programs. In addition to company specific remuneration programs, the services include, among other things, top executive salary analyzes and customized remuneration reports.

“We want to offer our clients a broader and more comprehensive service of incentive and retention programs. Alexander Incentives Oy's expertise complements Evli Awards Management Oy's core competence. The companies have a long history of working together and the co-operation has always worked seamlessly. Through the merge of operations, we can offer our existing and new clients a comprehensive service, from advisory and design of incentive programs to their management and realization. This is a business area that is strategically important to Evli, in which we see significant growth opportunities through development of new services, new products and new markets,” says Maunu Lehtimäki, CEO of Evli Bank.

EVLI BANK PLC