The Latvian FinTech company DelfinGroup has created a staff option program as a part of the long-term motivation program, which the company's shareholders approved to promote the employees' sense of belonging to the company. A total of 450 thousand company shares will be issued as part of the program.

 

Chairman of the Management Board of DelfinGroup Didzis Ādmīdiņš: "DelfinGroup values the contribution of every employee to the development of the company, therefore we provide the opportunity to voluntarily participate in the staff option program for employees at all position levels who have worked in the company for at least 12 months. From now on, our employees will have the opportunity to earn additional wages along with the company's development. Furthermore, the opportunity to become co-owners of the company will hopefully further unite the team and create greater involvement in achieving common goals! In my opinion, this is also an excellent motivation for talented specialists to start work at DelfinGroup, because new employees will also qualify for options after a year of work."

 

"It should be noted that in Latvia this type of employee motivation is an innovation, but it is a common practice in many companies of developed countries. We are ready to set an example and encourage other Latvian companies listed on the stock exchange. I want to add that by granting options to employees, we will also increase activity in the capital markets, as we will create many new investors who will potentially make other investments in the capital markets," says D. Ādmīdiņš.

 

Founder, shareholder and Chairman of the Supervisory Board of DelfinGroup Agris Evertovskis: "It is a pleasure that the company has fulfilled its promise, and now DelfinGroup employees will have the opportunity to step into the shoes of a shareholder personally. More than 300 employees work in the company throughout Latvia, and for most of them, participation in the staff option program will be their first contact and experience with securities. Therefore, extensive explanatory work is currently being carried out so that the employees of DelfinGroup can gain a deeper understanding of investing in securities and the capital market in general. Furthermore, I believe that the opportunity to become a co-owners of the company will additionally unite and positively motivate the existing team, as well as inspire new talent to come and work at DelfinGroup in particular!"

 

Staff options are rights for company employees to purchase DelfinGroup shares at a fixed price. After converting the options, employees will have the opportunity to earn additional funds along with the company's development. In addition, DelfinGroup employees, just like other company shareholders, will receive quarterly dividends according to the dividend policy of DelfinGroup. It provides that up to 50% of the company's profit is paid to shareholders in dividends every quarter.

 

About AS DelfinGroup

 

DelfinGroup is a licenced technology-based financial services company established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia. On average, 35 thousand loans are issued monthly and serviced by a professional team of more than 300 DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company's IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In the first nine months of 2022, the company's net loan portfolio grew to EUR 59.7 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 5.4 million. The company's sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy. The company has been profitable every year since 2010.

 

For further information, please contact:
Linda Eltermane,
DelfinGroup Head of PR
Phone: +371 28700457
E-mail: [email protected]