IuteCredit submits mandatory takeover offer to minority shareholders of Energbank - Preparations for the election of new members to the Bank's governing bodies

IuteCredit submits mandatory takeover offer to minority shareholders of Energbank
Preparations for the election of new members to the Bank's governing bodies

Tallinn, Estonia, 29 March 2022. IuteCredit Europe ("ICE"), a leading European personal finance group, has submitted a mandatory takeover offer to minority shareholders of Energbank. Currently, IuteCredit owns 83,6154% of shares in Energbank and can exercise full operational control over the bank once the new members of the governing bodies of the bank have been elected and approved by the National Bank of Moldova.

On 25 March 2022 the National Commission for Financial Markets (NCFM) of Moldova registered the mandatory takeover offer for 327,692 shares or 16,3846% of Energbank at the price of MDL 213,04 per share. The term of the takeover offer is 14 days starting from the day of the announcement.

"The submission of the mandatory takeover offer to the remaining minority shareholders is the final step in the acquisition of Energbank. At the same time, we are preparing to elect new members to the governing bodies of the bank and plan to integrate the bank into IuteCredit Group. We will adapt our fintech solutions and customer-centric culture at Energbank and become a fast and convenient fintech bank," said Tarmo Sild, Group CEO of IuteCredit.

Contact:

Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iutecredit.com
Phone: +372 622 9177

About IuteCredit:

IuteCredit - established in 2008 - is a leading European personal finance company. The Group is specialized in consumer credits via its 100% subsidiaries using equity and loan capital. IuteCredit serves customers currently in Moldova, Albania, North Macedonia, and Bulgaria as well as Bosnia and Herzegovina with a consolidated balance sheet exceeding 300 million EUR.

IuteCredit's loan products are unsecured consumer loans with maturities between 1 month and 48 months and car-secured loans with maturities up to 72 months. IuteCredit operates its own ATM network which is used via a smartphone app.

The mission of IuteCredit is to create the extraordinary experience in personal finance by exceeding customers' expectations.

www.iutecredit.com