DGAP-News: FinTech Group AG / Key word(s): Capital Increase/Joint Venture
FinTech Group AG: FinTech Group and Österreichische Post achieved first milestone in establishing their 50/50 joint venture

10.10.2018 / 09:58
The issuer is solely responsible for the content of this announcement.


Corporate News / Frankfurt am Main, 10/10/2018

FinTech Group and Österreichische Post achieved first milestone
in establishing their 50/50 joint venture

Österreichische Post Aktiengesellschaft signed 1,225,761 new shares issued in a cash capital increase out of the authorised capital of FinTech Group AG at EUR 28.50 per share in the total amount of around EUR 35 million

Nominal capital of FinTech Group AG increased to EUR 18,736,637, therefore
actual number of registered shares of FinTech Group AG increased to 18,736,637

Registration of capital increase at the commercial register with effect from September 24, 2018

Booking of the new shares into the share deposit account of Österreichische Post Aktiengesellschaft on October 5, 2018

Österreichische Post holds a shareholding of 6.54% in FinTech Group AG post capital increase

 

Frankfurt/Main / Vienna, October 10, 2018 - FinTech Group AG (ISIN: DE00FTG1111, German securities code: FTG111, ticker symbol: FTK.GR) and Österreichische Post Aktiengesellschaft (ISIN: AT0000APOST4, ticker symbol: POST.AV) achieved its first milestone in establishing their planned 50/50 joint venture according to Austrian law. Upon the issuance of a banking licence this joint venture will provide banking services in Austria. Within the scope of its five-year business plan the company will be capitalised with equity exceeding EUR 200 million.

To underpin this strategic cooperation Österreichische Post Aktiengesellschaft signed 1,225,761 new shares issued in a cash capital increase out of the authorised capital under exclusion of subscription rights at EUR 28.50 per share in the total amount of around EUR 35 million. The nominal capital of FinTech Group AG increased to EUR 18,736,637 split into 18,736,637 registered shares. Booking of the new shares into the share deposit account of Österreichische Post Aktiengesellschaft were fulfilled on October 5, 2018.

"We are happy, that we together with Österreichische Post jointly achieved the first milestone in establishing our 50/50 joint venture to create and to build the most innovative hybrid bank in the DACH region", welcomed FinTech Group CEO Frank Niehage, the new large shareholder.

Österreichische Post holds a shareholding of 6.54% in FinTech Group AG post capital increase. Furthermore Österreichische Post Aktiengesellschaft will get a seat on the Supervisory Board of FinTech Group AG.


About FinTech Group AG

FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) owns a modern smart bank, that offers innovative financial technology, an own core banking system and a regulatory liability umbrella.

The online broker flatex is the cash cow and offers an advanced, in-house technology service at low cost. This makes flatex the fastest growing trading platform in Europe.

This smart technology scales easily, which is why it is offered successfully to B2B customers. Many well-known institutes as well as the state infrastructure use these vital services. It helps startups and business models who need a banking licence through this model of white label banking to achieve rapid success.

As a provider of smart banking solutions, despite bank consolidation, low interest rates and digitization, FinTech Group AG is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.

 

Disclaimer

This release may contain forward-looking statements and information that use words such as 'expect', 'want', 'anticipate', 'intend', 'plan', 'believe', 'seek', 'estimate', 'will' or similar Terms are recognizable. Such forward-looking statements are based on our current expectations and assumptions that may involve a number of risks and uncertainties. The actual results achieved by FinTech Group AG may differ significantly from the statements in the forward-looking statements. FinTech Group AG undertakes no obligation to update these forward-looking statements or to correct them in any other than expected development.



Contact:
Jörg Peters
IR & Press

FinTech Group AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main

Phone: +49 69 450001 1701
joerg.peters.ext@fintechgroup.com


10.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: FinTech Group AG
Rotfeder-Ring 5
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 041
E-mail: ir@fintechgroup.com
Internet: www.fintechgroup.com
ISIN: DE000FTG1111, DE0005249601
WKN: FTG111
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

731969  10.10.2018 

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