Brief: Flow Traders Proposes To Move Corporate Holding Structure To Bermuda

Flow Traders

21/10/2022 09:17

Oct 21 (Reuters) - Flow Traders  FLOW.AS :
    * ANNOUNCES PROPOSED IMPLEMENTATION OF AN UPDATED CORPORATE
HOLDING STRUCTURE
    * THIS PROPOSED UPDATE WILL INVOLVE A TOP HOLDING COMPANY IN
BERMUDA AND IS THE RESULT OF A THOROUGH LEGAL AND CAPITAL
STRUCTURE REVIEW
    * WILL PROPOSE UPDATE TO THE CORPORATE HOLDING STRUCTURE TO
SHAREHOLDERS AT AN EXTRAORDINARY GENERAL MEETING, SCHEDULED TO
TAKE PLACE ON FRIDAY 2 DECEMBER
    * UPDATE OF HOLDING STRUCTURE ENABLES FLOW TRADERS TO BECOME
MORE
COMPETITIVE AS A GLOBAL, NEXT GENERATION LIQUIDITY PROVIDER,
PARTICULARLY IN RELATION TO REGULATORY CAPITAL MANAGEMENT
    * FLOW TRADERS WILL RETAIN ITS EXISTING GLOBAL FOOTPRINT
WITH NO
CHANGE TO DAY-TO-DAY OPERATIONS
    * UPDATE OF HOLDING STRUCTURE DOES NOT CHANGE FLOW TRADERS’
TAX
RESIDENCE IN NETHERLANDS
    * PROPOSED UPDATE OF HOLDING STRUCTURE HAS RECEIVED THE
UNANIMOUS
SUPPORT OF FLOW TRADERS’ MANAGEMENT AND SUPERVISORY BOARD
MEMBERS 
    * IN LINE WITH BERMUDA LAW, TOP HOLDING COMPANY WILL HAVE A
ONE-TIER BOARD STRUCTURE, COMPRISED OF EXECUTIVE AND
NON-EXECUTIVE DIRECTORS, INCLUDING THE INDEPENDENT CHAIRMAN

        
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