IuteCredit Finance S.à r.l.
IuteCredit: Kosovo subsidiary with revocation of license
IuteCredit Finance S.à.r.l. / Key word(s): Legal Matter IuteCredit: Kosovo subsidiary with revocation of license Regarding the assumed non-compliance with its business plan, ICKO had submitted a revised business plan to CBK on 14 November 2019, which reflected ICKO’s adjusted business operations, including, among others, reduced effective interest rates. To date, no notification has been received from CBK on that business plan. With regard to the appropriateness of the ICKO shareholder and the overall shareholder structure of IuteCredit Europe, the fact should be noted that the shareholders and shareholder structure have remained unchanged since ICKO obtained its license from CBK. The controlling shareholder of IuteCredit Europe is Alarmo Kapital with 89.81% of the shares, with Tarmo Sild (CEO) and Allar Niinepuuu (Chairman of the Supervisory Board) being the ultimate beneficiaries of Alarmo Kapital. The Company immediately initiated an investigation and legal assessment of the facts in order to make full use of all available legal measures to help resolve the situation and protect the interests of IuteCredit Europe as a shareholder, creditor and investor in Kosovo. Evelin Kanter, Group Chief Legal Officer (CLO)
06-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | IuteCredit Finance S.à.r.l. |
14, rue Edward Steichen | |
2540 Luxembourg | |
Luxemburg | |
ISIN: | XS2033386603 |
Listed: | Regulated Unofficial Market in Frankfurt |
EQS News ID: | 930815 |
End of Announcement | DGAP News Service |