Multitude SE decides to further postpone relocation to Germany
Multitude SE decides to further postpone relocation to Germany
Helsinki, 21 December 2022 – Multitude SE (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude” or the “Group”) announces that the board of directors of Multitude has resolved to further postpone the relocation of Multitude’s registered office from Finland to Germany. The board of directors of Multitude cannot at this time give an estimate on how long the further postponement will be but notes that their firm intention still is to pursue the relocation in future.
The postponement is due to continued uncertainties in applicability of certain administrative requirements to Multitude.
The contemplated relocation was governed by the transfer proposal in accordance with Article 8(2) of the regulation on the statute for a European company (SE) (2001/2157/EC) approved by the board of directors of Multitude on 9 July 2021 and the extraordinary general meeting of Multitude on 16 September 2021. According to the transfer proposal, the relocation was to become effective upon the registration of Multitude in the commercial register of the local court of Hamburg, which was originally expected to take place on or about 31 December 2021. On 9 December 2021, Multitude notified that the board of directors of Multitude had resolved to postpone the relocation for a period that was then expected to be up to a year.
The current further postponement of the relocation means that the relocation will not be carried out based on the current transfer proposal. The board of directors of Multitude expects to prepare a new transfer proposal and convene a new shareholders’ general meeting to approve the new transfer proposal in future when the circumstances allow.
Contacts:
Lasse Mäkelä
Chief Strategy and IR Officer
Lasse.makela@multitude.com
About Multitude SE:
Multitude is a fully regulated growth platform for financial technology. Its ambition is to become the most valued financial ecosystem. This vision is backed by 17+ years of solid track record in building and scaling financial technology. Through its full European banking license, profound know-how in technology, regulation, cross-selling, and funding, Multitude enables a range of sustainable banking and financial services to grow and scale. Currently, it has three independent business units on this growth platform: Ferratum as consumer lender, CapitalBox as business lender, and SweepBank as a shopping and financial app. Multitude and its independent units employ over 700 people in 19 countries, and they together generated EUR 214 million turnover in 2021. Multitude was founded in 2005 in Finland and is listed in the Prime Standard segment of the Frankfurt Stock Exchange under the symbol ‘FRU.’ www.multitude.com
