Multitude plc, listed European fintech firm based in Malta, has announced that it has distributed 42,346 shares to 47 of its employees for free as part of an initiative that reflects “trust” and “long-term vision”.

Under Multitude plc’s matching share plan, launched in 2021, employees can invest up to 10 per cent of their gross annual salary in Multitude shares.

The company commits to granting the same number of shares, for free, to those employees who hold the shares they bought for two years, given that they continued to work for the company over the period.

Multutde’s share price on the Frankfurt Stock Exchange stood at €4.71 at the close of market on Monday 18th November (yesterday), giving the total number of shares granted a value of around €200,000.

Shaun Vella, Chief HR Officer, said, “We are very happy by the continued engagement in the Matching Share Plan initiative. This program showcases our employees' long-term commitment to Multitude, which underscores the mutual alignment of interests between the company and our people.

“It reflects the trust we have built together and the shared vision we are working towards.”

Following the share distribution, the number of treasury shares now stands at 112,647 or 0.52 per cent of the total shares outstanding.

Multitude plc offers digital lending and online banking services to consumers, small and medium-sized enterprises, and other fintechs overlooked by traditional banks. Its business units are Consumer Banking (Ferratum), SME Banking (CapitalBox), and Wholesale Banking (Multitude Bank).

Multitude Group employs over 700 people in 25 countries and offers services in 16 countries, achieving a combined turnover of €230 million in 2023.

Multitude was founded in Finland in 2005 and is in the process of relocating to Switzerland.