The Board of Directors of TF Bank has resolved to offer the holders of warrants of program 2018:1 to repurchase their warrants. The offer includes all 1,372,340 outstanding warrants and means that the holders are offered to sell their warrants to TF Bank at a price corresponding to the market value. The warrants have been valued using the Black and Scholes model based on the remaining term.
The rationale of the offer is that the warrant program is not considered to fulfil its purpose. For future proposals for incentive programs, the Board will evaluate a structure that is more suitable for the purpose.
TF Bank AB (publ)
The Board of Directors
For further information, please contact:
Mikael Meomuttel, CFO och Head of Investor Relations +46 (0)70 626 95 33
This is information which TF Bank is required to disclose under the EU Market Abuse Regulation. The information was provided for publication, through the agency of the contact person set out above, on 28 May 2020 at 18:00 CET.
TF Bank in brief
TF Bank was founded 1987 and is an internet-based niche bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. Deposit and lending activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany and Austria through branch or cross-border banking. From 2020 the operations are divided into three segments: Consumer Lending, Ecommerce Solutions and Credit Cards.