eQ Oyj - Company Announcement

SYNERGIES AND ONE-OFF COSTS RELATING TO THE INTEGRATION OF ASSET MANAGEMENT BUSINESSES OF eQ AND ICECAPITAL

eQ PLC                                                                         
  STOCK EXCHANGE RELEASE 



17 December 2012, at 4.35 p.m



SYNERGIES AND ONE-OFF COSTS RELATING TO THE INTEGRATION OF ASSET MANAGEMENT
BUSINESSES OF eQ AND ICECAPITAL 



eQ Plc (eQ) announced on 20 November 2012 that it has acquired ICECAPITAL Asset
Management Ltd and its fully owned subsidiaries, excluding real estate private
equity fund business. It was stated in the stock exchange release that the
acquired business is planned to be integrated into eQ Group as soon as
possible, and that the integration process aims to remove overlapping functions
generated as a result of the acquisition and to improve competitiveness by
adapting costs. In addition, it was stated that the acquisition is also
expected to significantly increase the profitability of eQ Asset Management. 

Net synergies relating to the integration of the asset management organizations
have been clarified and are estimated to be more than EUR 2 million on an
annual level starting in 2013. Respectively, one-off costs relating to the
acquisition of the asset management business of ICECAPITAL and the integration
process are estimated to be approximately EUR 1 million. These one-off costs
will be booked in the last quarter of2012. 

Based on the co-determination negotiations of eQ Asset Management Ltd, eQ Fund
Management Company Ltd, ICECAPITAL Asset Management Ltd and ICECAPITAL Fund
Management Company Ltd, which were completed on 27 November 2012, and measures
taken as consequence of the co-determination negotiations, it was clarified
that the final personnel reduction is 18 person-years. The original estimate
was a reduction of 20 person-years. Company and altogether 18 employees
mutually agreed on ending of the employment, and thus the company was not
required to terminate any employment agreement 

The acquisition and integration of operations as a result of the acquisition
support eQ's strategy to become a leading asset manager in Finland and to
improve eQ's competitive position. 

The company will not make further releases concerning the realization of the
above synergies. 



Helsinki 17 December 2012



eQ Plc

Board of Directors



Additional information: Janne Larma, CEO, tel. +358 40 500 4366



Distribution: NASDAQ OMX Helsinki, www.eQ.fi



eQ Group is a Finnish publicly listed group of companies that specialises in
asset management and corporate finance operations. eQ Asset Management offers a
wide range of asset management services (including private equity funds) for
both institutional investors and private individuals. The assets managed by the
Group total approximately EUR 6.0 billion after the acquisition announced on 20
November 2012. 

Advium Corporate Finance Ltd, which is part of the Group, offers services
related to mergers and acquisitions, real estate transactions and equity
capital markets. 

More information about the Group is available on our website at www.eQ.fi.