Mandatum will host an Investor event today, on 14 September 2023, in Helsinki. The programme includes presentations on the company’s strategy, strengths and financial targets.
Mandatum will be separated from Sampo Group through a partial demerger on 1 October 2023, as approved by Sampo’s Annual General Meeting on 17 May 2023. Trading in Mandatum shares on Nasdaq Helsinki is expected to commence on 2 October 2023.
- The demerger will create an independent Mandatum, well positioned to build on its position as a leading Finnish financial services provider. We have ambitious plans to leverage our investment expertise to grow in capital light products, while our capital-intensive traditional with-profits book generates stable cash flow. I am excited about the opportunity to take our story to investors, says Patrick Lapveteläinen, Chair of the Board of Directors of Mandatum.
Mandatum is one of the leading financial services providers in Finland*, with a long track record and strong position in the life insurance and wealth management markets. The company offers a broad range of complementary products and services to a wide range of corporate, institutional and retail customers.
Financial targets
- Over the medium-term, Mandatum aims to achieve annual net flows equal to at least 5 per cent of unit-linked and other client assets under management.
- Over the medium-term, Mandatum is targeting a solvency ratio between 170–200 per cent.
- Mandatum aims to distribute EUR 500 million in dividends to shareholders between 2024–2026, with potential for extra capital distributions.
Mandatum’s Investor event begins today at 3 pm Finnish time (1 pm UK time) and the live webcast is available at www.sampo.com/demerger.
For more information, please contact:
Sampo plc
Sami Taipalus
Head of Investor Relations
tel. +358 10 516 0030
Media contacts:
Mandatum
Niina Riihelä
Senior Vice President, Marketing and Communications
niina.riihela@mandatum.fi, tel. +358 40 728 1548
* Based on life insurance and pension savings market shares in Finland 2022, Prospera rankings and SFR Research rankings. Source: FIN-FSA, Finnish life insurance companies' premiums written and claims paid (online publication). Based on 2022 total premiums written and claims paid. Access method: https://www.finanssivalvonta.fi/en/statistics/insurance/life-insurance/. SFR Research Institutional Investment Services 2022, Prospera external Asset Management 2022 Finland, Prospera Private Banking, Finance Finland (FFI).
Important notice
This release is not an offer of securities for sale in the United States of America. The shares in Mandatum plc referred to herein have not been, and will not be, registered under the US Securities Act of 1933, as amended ("US Securities Act"), or with any regulatory authority of any state or other jurisdiction in the United States, and may only be offered, sold, exercised, transferred or delivered, directly or indirectly, in or into the United States pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with applicable state and other securities laws.
This release shall not be published or disseminated, in whole or in part, directly or indirectly, in Australia, Canada, Hongkong, Japan, New Zealand, South Africa or Singapore or any other country where publication or dissemination would be unlawful. This release is not an offer to sell or solicitation of an offer to buy securities in any such jurisdiction where such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
The shares in Mandatum plc have not been and will not be listed on a US securities exchange or quoted on any inter-dealer quotation system in the United States. Neither Sampo plc nor Mandatum plc intends to take any action to facilitate a market in Mandatum plc shares in the United States. Consequently, it is unlikely that an active trading market in the United States will develop for the Mandatum plc shares.
The Mandatum plc shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or any other regulatory authority in the United States, nor have any of the foregoing authorities passed comment upon, or endorsed the merit of, the partial demerger or the accuracy or the adequacy of this release. Any representation to the contrary is a criminal offence in the United States.
Pursuant to the Prospectus Regulation, this release is an advertisement and not a prospectus for the purposes of the Prospectus Regulation. The expression "Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of the Council, as amended (in the case of the United Kingdom, as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). Any decision with respect to the partial demerger of Sampo plc should be made solely on the basis of information in the demerger prospectus prepared by Sampo plc and approved by the Finnish Financial Supervisory Authority as well as on an independent assessment of the information contained therein. Investors are directed to consult the demerger prospectus for more comprehensive information on Mandatum plc. Any approval and registration by the Finnish Financial Supervisory Authority of the prospectus shall not be considered as an endorsement of the securities admitted to trading on a regulated market. The prospectus is available on the website of Sampo plc at https://www.sampo.com/investors/partial-demerger.
This release includes "forward-looking statements" that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations and assumptions, which, even though they seem to be reasonable at present, may turn out to be incorrect. Shareholders should not rely on these forward-looking statements. Numerous factors may cause the actual results of operations or financial condition of Sampo plc or Mandatum plc to differ materially from those expressed or implied in the forward-looking statements. Neither Sampo plc, nor any of its affiliates, advisors or representatives or any other person undertakes any obligation to review or confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this release.
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