EVLI BANK PLC STOCK EXCHANGE RELEASE JUNE 16, 2020, 12.00 PM (EET/EEST)
The Financial Supervisory Authority has imposed a penalty fee of EUR 45,000 on Evli Fund Management Company Ltd, part of Evli Group, for a delayed flagging notification in 2018. The mutual fund Evli Finnish Small Cap, managed by Evli Fund Management Company Ltd, exceeded the five percent flagging limit in an individual target company on May 2, 2018. Due to a technical error, the flagging notification was not reported until June 5, 2018.
As soon as the error was detected, Evli acted and developed its flagging process to prevent similar errors from occurring in the future. The penalty payment does not have a significant impact on Evli Fund Management Company Ltd's financial position.
EVLI BANK PLC
For additional information, please contact:
Juho Mikola, CFO, Evli Bank Plc, tel. +358 40 717 8888, juho.mikola@evli.com
Evli Bank Plc
Evli is a bank specialized in investments that helps institutions, corporations and private persons increase their wealth. The product and service offering includes mutual funds, asset management and capital markets services, alternative investment products, equity research, the administration of incentive programs and Corporate Finance services. The company also offers banking services that support clients' investment operations. Evli is the highest ranked and most used institutional asset manager in Finland*.
Evli has a total of EUR 12.2 billion in client assets under management (net 3/2020). Evli Group's equity capital totals EUR 67.5 million and its BIS capital adequacy ratio is 14.6 percent (March 31, 2020). The company has around 250 employees. Evli Bank Plc's B shares are listed on Nasdaq Helsinki Ltd.
*KANTAR SIFO Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019 and SFR Scandinavian Financial Research Institutional Investment Services, Finland 2015, 2016, 2017, 2018.
Distribution: Nasdaq Helsinki Ltd, main media, www.evli.com