Admiral Markets announces buyback offer for up to 8,476 Tier 2 bonds

⦿ Executive Snapshot

What: Admiral Markets AS announces a buyback offer for up to 8,476 Tier 2 bonds.
Who: Admiral Markets AS, current bond investors.
Why it matters: This buyback reflects the company's strategic shift after relinquishing its investment firm license and aims to facilitate the termination of bond trading on Nasdaq Tallinn.

Admiral Markets AS offers to buy back 8,476 Tier 2 bonds issued on 28 December 2017 for EUR 101.02 per bond.
The total nominal value of the bonds for repurchase is EUR 847,600.
The buyback offer period is from 22 May 2026 to 22 June 2026.
The repurchase price includes the nominal value of EUR 100, a premium of EUR 1, and accrued interest of EUR 0.02.
Admiral Markets AS is considering terminating trading of the bonds on the Nasdaq Tallinn Stock Exchange post-buyback.

The decision to buy back the bonds comes after Admiral Markets AS relinquished its investment firm license, indicating a significant shift in its operational strategy.
The low trading activity and small remaining volume of the bonds suggest a declining interest or viability in maintaining them in the market.

The buyback may improve the liquidity position of Admiral Markets AS by reducing outstanding liabilities.
Termination of bond trading could signal a broader strategic realignment towards core business operations, potentially affecting investor confidence and market perception.

Potential regulatory challenges in executing the buyback and terminating trading on the stock exchange.
The low trading activity of the bonds may limit the effectiveness of the buyback offer and affect investor participation.

Monitor the buyback offer’s participation rates and completion timeline set for June 2026.
Future announcements regarding the termination of bond trading on Nasdaq Tallinn will indicate the success of the buyback strategy.