Extraordinary general meeting of BinckBank sees all resolutions passed

Maria Nikolova

The termination of the listing of BinckBank shares on Euronext Amsterdam will be effective as of September 26, 2019.

BinckBank, which has been part of the Saxo Bank Group since August 2019, has just announced the results of the extraordinary general meeting held earlier today.

Let’s recall that the agenda of the meeting included:

  • 1. Opening.
  • 2. Update of the recommended public offer made by Saxo Bank for BinckBank (the “Offer”) (discussion item).
  • 3. Amendment of the articles of association of BinckBank (the “Articles”) following delisting from Euronext Amsterdam (voting item).
  • 4. Cancellation of shares repurchased by BinckBank (voting item).

The extraordinary general meeting of BinckBank N.V. held on 25 September 2019 has adopted the resolutions as proposed in the agenda. The resolutions include the following:

  • Agenda item 3: Amendment of the articles of association following delisting from Euronext Amsterdam;
  • Agenda item 4: Cancellation of shares repurchased by BinckBank.

As previously guided, today is the last day BinckBank shares are traded at Euronext Amsterdam. This means that the termination of the listing of BinckBank shares will be effective as of September 26, 2019.

In December 2018, Saxo Bank announced that it intended to acquire BinckBank and to form a larger and stronger organization. Following the approval of regulators and strong shareholder acceptance, the acquisition was formally completed on August 7, 2019.

BinckBank is now set to significantly expand its services in Spain via the launch of a special investment platform designed to serve European expats living or staying in the country. The new platform is based on Saxo Bank’s technology and is the first major joint commercial project following the acquisition of BinckBank by Saxo Bank.

There have been management changes at BinckBank related to the deal with Saxo. Steven Clausing stepped down as a member of the board of BinckBank in connection with the public offer by Saxo Bank. The change was effective September 1, 2019.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

<