News
29 November 2006
Mobile Credit Baltic names top team in advance of AIM float
Mobile Credit Baltic AS (“Mobile Credit Baltic”, “MCB” or the “Group”), the rapidly growing provider of immediate, short-term credit to borrowers in the growing markets of Finland and the Baltics, today announces the appointment of its Supervisory Board.
Earlier this month the Estonian-based Group announced its intention to list on AIM, with Rami Ryhänen as Chief Executive Officer, and Henry Nilert as Chief Financial Officer, together making up the Management Board. Dealing in MCB shares is due to start in December 2006, with Libertas Capital acting as both nominated adviser and broker to the Group.
As in many European countries, Estonian law requires locally domiciled businesses to appoint a separate Supervisory Board with responsibility for oversight and strategy through interaction with the Management Board. MCB’s Supervisory Board members consist of senior individuals with extensive experience in finance, consumer industries and the wider business world. Their collective experience will provide significant support to MCB as it develops its business in the Fenno-Baltic region.
Bertil Rydevik, MCB’s Non-executive Chairman, was formerly Managing Director and Head of European investment banking at Lehman Brothers, and Head of Nordic and German investment banking for Credit Suisse First Boston. Mr Rydevik also spent seven years at Morgan Stanley in New York and London.
Dennis Malamatinas is Chairman of Metro International SA, the largest and fastest-growing international newspaper in the world, with 18.5 million daily readers. He is also Chairman and co-founder of Philox Ltd, Europe’s first pan-European students’ online social network. He previously served as the worldwide CEO of Burger King Corporation, the world’s second-largest hamburger restaurant chain with $11 billion revenues, 11,000 restaurants and 330,000 employees systemwide. He has also served as the founding CEO and Chairman of Priceline Europe and co-CEO of Marfin Bank. Mr Malamatinas has been a Director of Diageo plc and non-executive Director of Reuters plc.
Also on the supervisory Board are Anton Mayr, co-founder and Managing Partner of Stratos Ventures, an early-stage venture capital fund with offices in Finland and California, who also worked previously with Citicorp Venture Capital and a New York City corporate law firm, and Richard Parkinson, co-founder and Managing Director of Otima Capital, a Singapore-based private equity and M&A advisory firm, who was previously with Whitney Asia and Wasserstein Perella.
Rami Ryhänen, Chief Executive, was previously Chief Executive Officer of Jippii Mobile Entertainment, one of the most successful consumer marketing firms in the Baltics and Eastern Europe, which was sold to Itouch plc. He also has extensive prior consumer marketing experience through positions with Sonera and AGA.
Henry Nilert, Chief Financial Officer, was co-founder and Chief Operating Officer of iobox Oy, which was later sold to Telefonica of Spain for €230 million. He has prior experience in private equity and investment banking, among others with Credit Suisse First Boston.
Rami Ryhänen, Chief Executive of Mobile Credit Baltic, said: “With the forthcoming AIM float of Mobile Credit Baltic and now this highly qualified team in place, we are ideally positioned to manage the business and enact the strategy set out by the Supervisory Board.”
Further information:
MCB Finance Group:
Libertas Capital:
ajr@libertascapital.com +44 (0)20 7569 9650
www.libertascapital.com
Media enquiries: Capital MS&L:
Notes to Editors
Mobile Credit Baltic AS is provider of fast, convenient, easily understood and flexible credit solutions to retail customers throughout Finland and the fast-growing Baltic market. Customers are attracted by Mobile Credit Baltic's high degree of service, a repayment system that rewards promptness, and competitive, highly visible terms. Operating through its highly recognised Credit24 brand, Mobile Credit Baltic has, in a short period, built an extensive business and is focused on the substantial potential for growth throughout Finland and the Baltic region.