DGAP-Adhoc Ferratum Oyj: Ferratum Oyj contemplating conversion into SE
DGAP-Ad-hoc: Ferratum Oyj / Key word(s): Miscellaneous
Ferratum Oyj contemplating conversion into SE
Helsinki, 29 October 2020 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ("Ferratum" or "the Group") contemplates conversion into a European Company and considers different options for restructuring the governance structure of the Group.
The Board of Directors of Ferratum have resolved to investigate possibilities to convert Ferratum into a European Company, Societas Europaea (SE) to emphasize the international reach of the Group's operations and strengthen Ferratum's European identity. The aim is to make the Group structure more transparent and leaner from governance perspective.
The investigation will also cover strategic structural considerations, one of the options being an analysis on possibilities to subsequently relocate the company's headquarters to another EEA jurisdiction in accordance with the Finnish Act on European Company (742/2004) and the Council Regulation N:o 2157/2001 on the Statute for a European company (SE).
The final decision on SE conversion is subject to final approval by the Board of Directors and the shareholders.
With this release, Ferratum Oyj publishes inside information.
About Ferratum Group:
Ferratum Group is an international provider of mobile banking and digital consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum has expanded rapidly to operate in 20 countries across Europe, Africa, South and North America, Australia and Asia.
As a pioneer in digital and mobile financial services technology, Ferratum is at the forefront of the digital banking revolution. Ferratum has approximately 600,000 active customers that have an open Mobile Bank account or an active loan balance in the last 12 months (as at 30 June 2020).
Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange under symbol 'FRU.' For more information, visit www.ferratumgroup.com.
29-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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|Ratamestarinkatu 11 A|
|Phone:||+49 (0) 30 9210058-44|
|Fax:||+49 (0)30 9210058-49|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1144092|
|End of Announcement||DGAP News Service|
1144092 29-Oct-2020 CET/CEST