Talenom’s personnel share issue was oversubscribed – almost a third of employees participated in the issue
Talenom Plc, Stock exchange release 27 May 2020 at 9:50 EEST
Talenom’s personnel share issue was oversubscribed – almost a third of employees participated in the issue
In May, Talenom Plc carried out a share issue directed to the company's personnel and franchise entrepreneurs. The subscription commitments given during the subscription period from 11 May to 22 May 2020 covered 200,447 shares, which means that the personnel share issue was oversubscribed 1.7 times. The Board of Directors of Talenom Plc has on 27 May 2020 approved the subscriptions for the maximum number of new shares in the personnel share issue, a total of 120,000 new shares. Shares were subscribed for by 252 persons, which corresponds to approximately 32% of those eligible. The approved subscriptions have been paid in accordance with the terms and conditions of the personnel share issue.
"The large-scale participation of our employees in the personnel share issue is a strong indication of our team's confidence in the company's strategy and future. Despite the epidemic, we decided to organise the issue as planned. Even though we have already achieved a great deal as a company, we feel that our story is just beginning. That is why it is great that a large number of our employees are becoming shareholders right now," says CEO Otto-Pekka Huhtala.
Talenom announced the terms and conditions of the personnel share issue in a stock exchange release on 27 April 2020. A maximum total of 120,000 new shares in the company were offered in the issue for subscription by the company’s personnel and franchise entrepreneurs in Finland, in deviation from shareholders’ pre-emptive subscription rights. The members of the company’s Board of Directors, the CEO and the members of the Executive Board were not entitled to participate in the personnel share issue. The share subscription price was EUR 5.86, based on the trade volume-weighted average price of the share on Nasdaq Helsinki Ltd in the 1 March to 31 March 2020 period, with a 10 per cent discount.
The shares subscribed for in the personnel issue represent 0.28% of the total number of shares in the company before the issue of the shares and after the issue of the shares.
The shares approved in the personnel share issue will be entered in the Trade Register and admission to public trading will be sought roughly in week 22. After the new shares have been entered in the Trade Register, the number of shares in the company will increase by 120,000 shares to 42,955,273 shares. The total subscription price, EUR 703,200, will be fully recorded in the company’s invested unrestricted equity fund.
TALENOM PLC
BOARD OF DIRECTORS
Further information:
Otto-Pekka Huhtala
CEO, Talenom Plc
tel. 4
Talenom Plc is an accounting firm established in 1972. Talenom offers a wide range of accounting services as well as other expert and advisory services to support its clients’ business. The company has its own software development and it provides its clients with electronic financing tools.
Talenom Group’s net sales in 2019 amounted to EUR 58.0 million, with an increase of 18.6% compared to 2018. Talenom has a history of strong growth – the average annual increase in net sales was approximately 15.7% between 2005 and 2019.
DISTRIBUTION:
Nasdaq Helsinki
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