Admiral Markets Corporate Structure Reshuffled by Majority Shareholders

The effort is part of the transparency efforts that brokers have to commit to after publicly selling securities.

The majority owners of Admiral Markets AS have transferred their shares in the company to new holding companies. Alexander Tsikhilov and Dmitri Laush, who currently own 76.375% and 17.85% of the shares of Admiral markets respectively, have restructured their holdings.

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Under the new structure, Tsikhilov transferred 49 percent of the company’s shares into a company where he has a 100% ownership stake, Montes Auri OÜ. Meanwhile, Laush transferred his entire stake of 17.85% to his own holding company Laush OÜ.

Public Offering of Bonds Triggers Disclosures

The public bond offering that Admiral Markets listed in December has triggered mandatory disclosures. Brokers that are considering raising funds via regulated public markets need to adhere to certain rules that demand full transparency.

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The move is in line with the future intention to re-investing company profits back into operations, rather than taking a personal benefit in the short-term, the official corporate announcement on the matter outlined. The transfers were finalized on January 22nd.

Admiral Markets AS launched a sale of company bonds in December of last year. The company initially set out to raise a total of €5 million, through the offering of 50,000 bonds, priced at $100 per bond, carrying an interest rate of 8% per annum.

At the end of the sale, Admiral Markets was able to raise over €1.8 million. The precise number of bonds sold was listed at 18,268, for a total net value of €1,826,800 in newly raised capital. The company transferred the securities to respective investor accounts on December 28, 2017.

Regarding its bond sale, the Estonian brokerage had more success with retail investors than institutional.

At the time, board member Sergei Bogatenkov said: “We met our target in terms of retail investors and got positive feedback from several institutional investors, who still would have needed more time for deciding about the subscription. Especially when Admiral Markets and its field of financial services are unique in the Baltic market.”

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