Admirals Ends Estonian License Amid Global Consolidation

During the first half of next year, Admirals Group AS, the parent company of FX/CFDs brokerage Admirals, will merge with its Estonian subsidiary, Admirals Markets AS. To accomplish this, the firm will withdraw the subsidiary’s investment company license, which may happen by August of this year.

On Thursday, the company based in Estonia announced its plan to restructure as it aims to broaden its global presence. Admirals has already established itself in new regions over the past few years.

The Group is in 18 countries and has clients in over 145 nations. They provide stock trading services, forex, and CFDs while regulated in multiple jurisdictions such as the UK, Canada, Australia, South Africa, and Cyprus.

Despite the restructuring, Admirals Group confirmed that Tallinn, Estonia, still remains the company’s strategic location. The company has over 100 employees, and its headquarters is in Tallinn, Estonia.

Additionally, the Admirals have stated that their lending platform MoneyZen, regulated by the Estonian Financial Supervision and Resolution Authority, will still be used to enhance their operations in Estonia.

Admirals Announces €1.9M Bond Buyback.

Admirals Group has announced that they plan to buy back 18,268 Tier 2 bonds, totaling €1.9 million, from their investors. Tier 2 bonds are considered lower in priority compared to other types of debt if the company were to go bankrupt.

Admirals plans to purchase bonds for €104.53 apiece that were initially issued on December 28, 2017, and have a 10-year maturity. The company confirms that the buyback program is not subject to third-party rights.

Admirals has stated that the bond transaction’s value date is around June 7, 2023. Additionally, the buyback offer is exclusively for the current bond investors of Admiral Markets AS.