Administer to clarify and simplify its Group structure

Administer has started a corporate reorganization. The plan is to merge some subsidiaries owned solely by Administer Plc with the parent company. The companies to be merged include the Group’s regional offices and previously acquired accounting companies that have, so far, operated using their own trade name within the Administer chain. In addition, there is a plan to start a new company named Silta Employer Services Oy, which will be a subsidiary of Silta Oy. This company would take over the PEO business. The reorganization is planned to be ready in 1 May 2023.

The goal of the reorganization is to clarify and simplify the Group’s structure. The reorganization will not have any direct effects on employees, the terms of all employment relationships will remain essentially the same. The reorganization will not affect the number of offices either: all offices will continue their operations as before.

The reorganization will not have any direct effects on customers. Current contracts with customers will be transferred to Administer Plc when the mergers take place. The systems used to serve customers will remain the same, and customers will continue to be served by the same offices as before.

“Over the years, Administer has grown through several acquisitions. Now is a good time to clarify the Group’s structure and unify the regional offices and trade names under the name of Administer Plc,” says CFO Johan Idman.

For further information, please contact:

Johan Idman, CFO, Administer Plc, tel. +358 (0)40 544 3442

Facts:

• The planned reorganization concerns the following subsidiaries of Administer Plc: Administer Oy Jyväskylä, Administer Oy Turku, Administer Oy Vantaa, Administer Oy Tampere, Administer IT Oy, Waasa Profit Counter Oy, E-tilipalvelut Oy City, Tilitoimisto Polojärvi Oy and Tilikamut Oy and Silta Group Oy.
• In the planned reorganization, the companies above will be merged with Administer Plc and, as a result, the responsibilities and obligations of the subsidiaries will be transferred to Administer Plc. Similarly, the responsibilities and obligations of the PEO business will transfer to Silta Employer Services Oy.
• The implementation of the reorganization will not have any direct effects on employees or customers. Customers will continue to be served by the same offices as before.