Update on FlowBank SA
13th June
2024 | SAINT HELIER, Jersey | CoinShares International Limited
(“CoinShares'' or “the Group”) (Nasdaq Stockholm: CS; US OTCQX:
CNSRF), the leading European investment company
specialising in digital assets, announces that it has today
received information stating that the Swiss Financial Market
Supervisory Authority (FINMA) has opened bankruptcy proceedings
against FlowBank SA with effect from 13 June 2024 at 8:00am. As a
consequence, FINMA has withdrawn the licence of FlowBank SA as a
bank and securities dealer.
FlowBank SA is a subsidiary of FlowBank Holdings
SA, which forms part of the Group’s principal investment portfolio.
A further update will be made in due course regarding the impact of
these proceedings, inclusive of any impact on the carrying value of
the Group’s investment in FlowBank Holdings SA.
The Group’s exposure to FlowBank SA as a
customer is immaterial, with deposits totalling approximately
£100,000.
There is no impact on any of the Group’s
products or clients as a result of these proceedings.
ABOUT COINSHARES
CoinShares is the leading European investment
company specialising in digital assets, that delivers a broad range
of financial services across investment management, trading and
securities to a wide array of clients that includes corporations,
financial institutions and individuals. Focusing on crypto since
2013, the firm is headquartered in Jersey, with offices in France,
Sweden, Switzerland, the UK and the US. CoinShares is regulated in
Jersey by the Jersey Financial Services Commission, in France by
the Autorité des marchés financiers, and in the US by the Financial
Industry Regulatory Authority. CoinShares is publicly listed on the
Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker
CNSRF.
For more information on CoinShares,
please visit:
https://coinshares.comCompany | +44 (0)1534 513
100 | enquiries@coinshares.com Investor Relations
| +44 (0)1534 513 100 | enquiries@coinshares.com
This information is information that CoinShares
International Limited is obliged to make public pursuant to the EU
Market Abuse Regulation 596/2014.
PRESS CONTACT
CoinSharesBenoît
Pellevoizinbpellevoizin@coinshares.com
M Group Strategic
CommunicationsPeter Padovanopress@coinshares.com
CoinShares (TG:3TW)
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