Ferratum Oyj: SE conversion and new trade name approved by the Extraordinary General Meeting of Shareholders
Helsinki, June 10, 2021 – Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) (“Ferratum” or “Company”).
FERRATUM DECISIONS EXTRAORDINARY GENERAL ASSEMBLY
Ferratum held its Extraordinary General Meeting today in accordance with specific terms and the meeting adopted the following resolutions.
TRANSFORMATION OF THE COMPANY INTO A EUROPEAN PUBLIC COMPANY WITH LIMITED LIABILITY
Ferratum Plc announced on December 16, 2020 that the Board of Directors decided on that date to approve the draft conditions for the conversion of Ferratum Plc into a European Company (SE) (Conversion conditions) and a related report (Report) concerning the project to transform the Company from a Finnish public limited company (Plc) into a European limited liability company (Societas Europaea, SE) (Conversion).
The conversion conditions were registered in the Finnish Commercial Register on December 18, 2020.
The Extraordinary General Meeting approved the Conversion Conditions and decided on the Conversion in accordance with the Conversion Conditions.
The reasons for transforming the Company into an SE are strategic. While the company was incorporated in Finland, its operations have since expanded across Europe and the world, and currently the company is a multinational company with operational activities in several countries. The transformation into an SE, which is currently the only form of supranational company available in Europe, should underline the international scope of the Company’s operations and strengthen its European identity. The aim is to make the group’s structure more transparent and streamlined from a governance point of view.
The Conversion will enter into force upon registration in the Finnish Commercial Register on or around June 15, 2021.
The Extraordinary General Meeting also decided to amend the Articles of Association of the Company as indicated in the Conversion Conditions, including, but not limited to, the modification of the trade name of the Company to include a new indication of form. social (SE).
APPROVAL OF A NEW TRADE NAME
The Extraordinary General Meeting approved a new trade name for the Company. The new trade name is Multitude SE. The new trade name will take effect upon registration with the Finnish Commercial Register on or around June 15, 2021.
About the Ferratum group:
Ferratum Group is a global 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 grown to operate in 19 countries across Europe, 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 around 480,000 active customers who have either an open Mobile Bank or Wallet account or an active loan balance in the last 12 months (as of March 31, 2021).
The Ferratum group is listed on the Prime Standard of the Frankfurt Stock Exchange under the symbol “FRU”. For more information, visit www.ferratumgroup.com.