In order to comply with the demands of Swedish Financial Supervisory authority “Finansinspektionen (FI)”, Europe’s leading P2P lending provider TrustBuddy decided in October 2014 to merge TrustBuddy International AB (publ) and TrustBuddy AB (publ). TrustBuddy is currently awaiting the decision regarding its application for a license for Certain Consumer Credit-related Operations issued by FI, with the goal to operate as an authorised consumer credit institution.
The merger plan was registered with the Swedish Companies Registration Office on October 15, 2014, and approved by TrustBuddy International’s General Meeting on November 17, 2014. This morning, TrustBuddy announced that the merger is expected to be registered by the Companies Registration Office on Friday 13 February 2015. In connection with the registration of the merger, TrustBuddy International will be dissolved and all assets and liabilities will be transferred to TrustBuddy.
As a result of the registration of the merger as detailed above, TrustBuddy International will be delisted from Nasdaq First North. The last day of trading in TrustBuddy International shares on Nasdaq First North is Thursday 12 February 2015. Subsequent to the shares in TrustBuddy International has been delisted and the Companies Registration Office register the merger as described above, the shareholders of TrustBuddy International will, as of February 17 2015, receive one new share in TrustBuddy for each share in TrustBuddy International. Distribution of the new shares in TrustBuddy is expected to take place on Wednesday 18 February 2015 and from that date trading in the new TrustBuddy shares will be possible.