CoinShares Announces FlowBank Holdings SA Investment Impairment
21st 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 following our previous RNS on 13th June 2024, the Group has decided to fully impair its investment in FlowBank Holdings SA, effective immediately.
This has resulted in an impairment charge of £21,813,042.
As previously announced, the Group’s exposure to FlowBank SA as a customer is immaterial, with deposits totalling approximately £100,000.
There is no impact on the Group’s operation, products or clients.
Jean-Marie Mognetti, CEO of CoinShares, commented: “The unfortunate circumstances surrounding FlowBank SA have necessitated this difficult but prudent financial decision. We remain committed to our stakeholders and will continue to navigate these challenges with transparency and diligence.”
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 Securities and Exchange Commission, National Futures Association and 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.com
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This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014.
PRESS CONTACT
CoinShares
Benoît Pellevoizin
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M Group Strategic Communications
Peter Padovano
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