DelfinGroup plans to grant stock options to employees as part of an incentive program

Latvian Financial Concern JSC “DelfinGroup“at the shareholders ‘meeting has decided to issue up to 450 thousand shares of the company within the long – term motivation program of the company’ s employees.

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“By allowing the company to acquire shares, employees will have the opportunity to personally feel the” shareholders’ shoes. “In many parts of Europe, such share programs are becoming more common way to attract, motivate and retain employees. The opportunity to become co-owners of the company will further unite and positively motivate the existing team, as well as inspire new talents to come to work for “DelfinGroup”, “says Agris, Chairman of the Council and Shareholder of JSC” DelfinGroup ” Evertowski:

In addition to the salary, the company’s employees will be able to earn money as the company develops, including through DelfinGroup’s quarterly dividend policy of up to 50% of quarterly earnings (quarterly dividends). In addition, once a year after the approval of the annual report, there is a possibility to make additional dividends (annual dividends). During the financial year, it is planned to pay at least 50% of the company’s consolidated profit to shareholders in dividends. In the long run, the company’s employees will be able to become owners of more than 1% of the company’s shares. At present, the company’s share capital consists of 40 million shares with a nominal value of 0.1 euros per share.

As a potential benefit to employees from stock options, A. Evertovskis mentions the opportunity to participate in the development of the company as a shareholder with voting rights at shareholders’ meetings, as well as gaining experience and understanding of investing in securities and capital markets in general.

In the summer of this year, JSC “DelfinGroup” published the company’s long-term financial goals for 2024. By the end of 2024, the company plans to double its consolidated net loan portfolio, exceeding EUR 70 million. By gradually increasing profitability, the company plans to achieve EBITDA of 17.6 million euros in 2024, as well as a profit before taxes of 12.9 million euros. The company’s financial targets are based on the assumption that new capital of approximately EUR 15 million will be raised in the planned IPO process.

In March of this year, the company announced plans to conduct an initial public offering (IPO) of shares in the second half of 2021. “Nasdaq Riga“stock exchanges Baltic In the official list. The offer will be intended for private investors in Latvia, Estonia and Lithuania, as well as institutional investors from European Economic Area (EEA) countries. The financial advisors of DelfinGroup’s IPO process are LHV Bank and Eversheds Sutherland Bitāns.

JSC “DelfinGroup” is a licensed technology-based financial industry group, founded in 2009 and working with the brands “Banknote” and “VIZIA”. The company constantly develops and offers consumer, senior, installment, pawnshop loans and sales of used and second-hand goods in more than 90 branches throughout Latvia, as well as online.

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