Mandatum the personnel allocation was considerably oversubscribed. The company’s board decided, with the authorization given by the general meeting, to offer a maximum of 250,000 shares to the personnel for subscription. In an oversubscription situation, the board was entitled to decide to increase the number of shares to a maximum of 900,000 shares. After the end of the subscription period, the staff had received a total of nearly 1.25 million subscriptions, in which case not all subscriptions could be accepted in full.
The subscription price was EUR 3.74 per share, which was based on the average price of EUR 4.15 and a discount of 10 percent.
The board of directors approved the subscription commitments in full for each person who made the subscription commitment up to 5,000 shares and for the amount exceeding this, approximately 30.8 percent.
“It’s gratifying to see how a large number of Mandatum people participated in the personnel selection: more than half of the personnel signed up. Ann’s purpose was to encourage personnel to acquire and own Mandatum shares and to commit them to our long-term strategy and goals. We succeeded in this goal very well”, the chairman of Mandatum’s board of directors Patrick Lapveteläinen commented in the announcement.
Source: www.arvopaperi.fi
