Ikonia FinTech AG: Resolutions on business strategy, acquisition of a portfolio of payment processing contracts

Düsseldorf (pta031/05.11.2024/16:40) - The Executive Board and Supervisory Board of Ikonia FinTech AG have taken important decisions regarding business strategy and its implementation.

Ikonia FinTech AG is sharpening its positioning as an "enabler" of financial transactions, with a focus on the efficient processing of payments and related processes. The company offers its customers sophisticated "white labeling" products.

As part of the implementation of its strategy, the company is pleased to announce that it has entered into an agreement with an affiliated party to launch a new financial services support business for payment gateway companies.

The company will provide bank accounts and a full gateway service that will enable its clients to receive payments via Visa, MasterCard, American Express and others, generating revenue every time one of our client's customers makes a payment from anywhere in the world.

Ikonia is also pleased to announce today that we have entered into an agreement to purchase, subject to shareholder approval, a number of existing contracts with customers who already offer this payment method to their customers and generate revenue from it. These contract purchases are with related parties and follow an arm's length valuation overseen by Concord Capital AG.

The new customers, based in Europe, offer foreign exchange trading and educational courses to their customers who pay with their credit card. In these cases, Ikonia's platform is used and each payment results in a fee for Ikonia. Future customers will primarily be based in Europe and come from all sectors.

These strategic plans have been in development for several months, and the company expects immediate results with revenues, new offices and new team members, all aimed at growing the value of the business with a business model geared towards efficiency and volume.

The value of the new contracts was assessed by a certified research company and included a valuation process prescribed by the Institute of Public Auditors in Germany and the Standarts of DVFA, CEFA and CFA. An extract of the report will be published on the company's website when all paramaters of the transaction are finally agreed. The transaction has been managed and overseen by Concord Capital AG, Frankfurt. Further information is included in a separate letter to shareholders.

The company is also pleased to announce the opening of new representative offices in the UK and Denmark, which will manage business development plans. There will be a further announcement in due course with details of new team members.

James Holmes, Chairman of the Supervisory Board added: "Having looked at a number of options for enhancing shareholder value in Ikonia, we believe we have found the best option. The filing of the audited accounts is expected to enable the company to move to the Prime Standard in Düsseldorf, which will enable trading on other exchange platforms such as XETRA. We are also pleased to confirm today that work is commencing on a prospectus that, when completed, will enable the company to move to more liquid markets."

(Ende)