Admirals is a brand name.
The restructuring stems from the fundamental necessity and choice to expand the Group’s presence globally, as the Company has substantially positioned itself in new regions during recent years. The on-going change shall have no impact on the existing Group’s clients.
Albeit the restructuring, Estonia remains the Company’s strategic location. The company’s headquarters will remain in Tallinn with over 100 employees.
Admirals also stressed that its lending platform MoneyZen will continue to support the existing presence of its company in Estonia. MoneyZen operates under the Estonian Financial Supervision and Resolution Authority.
Further, Admirals Group also announced plans to repurchase 18,268 Tier 2 bonds issued on 28 December 2017, worth €1.9 million from its investors.
According to the conditions of the buyback, the purchase price for €104.53 per bond. The company noted that there are no encumbrances of third-party rights on the bonds.
Admirals stated that the transaction would take place at a value date on or around 7th June 2023. The buyback is available to existing Admiral Markets AS investors only.