4finance takes stock of the activity, shareholding and governance

4finance SA / Keyword(s): Declaration
4finance SA: update on the activity, shareholding and governance of 4finance

21-March-2022 / 15:47 CET/CEST
Disclosure of privileged information according to. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

4finance takes stock of the activity, shareholding and governance

March 21, 2022. 4finance Holding SA (the “Group” or “4finance”), one of Europe’s largest digital consumer finance groups, provides the following update on its business, shareholders and governance.

Commercial and operational update

As stated in the Group’s statement of March 3, the invasion of Ukraine has shocked people across 4finance and we are deeply saddened by these events. The company is involved directly and through humanitarian aid agencies in broader efforts to support refugees.

The Group’s activities continue to operate as usual, despite the impact of the war in Ukraine on its neighboring countries. Overall loan issuance and collections so far in March are similar to January and February levels. We do not have operations in Russia, Ukraine and Belarus.

The war brings a degree of uncertainty to the general business outlook and adds to the inflationary pressures that management was already monitoring. The company is in a strong position to react and quickly adapt its subscription according to needs.

Shareholders

Vera Boiko, previously the largest beneficial owner with 49.05%, will reduce her stake to 29.27% ​​by the end of March. The new beneficiaries are three parents, each Ukrainian citizens, Taras Boiko (3.3%), Denys Boiko (3.3%), Kateryna Boiko (3.3%) and a Swiss charity fund for parasports (9.9%). ). The family transaction is complete and the benevolent fund transaction closes this week.

Further divestments by Ms Boiko are planned in the coming weeks, including participation in the management of 4finance. Once completed and approved by the regulator, Ms. Boiko’s participation will be reduced to zero.

While the divestment process was launched last year as part of estate planning, events in Ukraine accelerated it. Once the process is complete, all beneficial owners of 4finance will be citizens or entities of the EEA, UK or Ukraine.

Governance

In light of the completed and ongoing changes in shareholding – including management involvement – ​​it was decided to dissolve the Supervisory Board, leaving the Management Board as the highest level of corporate governance. When the company re-domiciles, a singular new Board of Directors will be formed comprising executive and non-executive directors.

For more information please contact:
Email: [email protected]
Email: [email protected]

This announcement contains inside information as stipulated in the Market Abuse Regulation. Certain statements contained herein are “forward-looking statements”. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements.

About 4finance

Established in 2008, 4finance is one of Europe’s largest digital consumer finance groups with operations in 9 countries.

Leveraging automation and data-driven insights across the business, 4finance has grown rapidly, issuing more than €9 billion since its inception in the form of installment loans, credit lines credit and one-time payment loans.

4finance operates a portfolio of market-leading brands offering simple, useful and transparent products to millions of customers. The Group provides convenient products in a responsible way to the many consumers who are often underserved by conventional suppliers.

The Group also offers deposits, in addition to consumer and SME loans through its subsidiary TBI Bank, an EU-licensed institution with operations in Bulgaria and Romania.

www.4finance.com

March 21, 2022 CET/CEST DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
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Helen D. Jessen