Smartbroker Holding AG

Business and Financial Review • Dec 5, 2022

News Details

Ad-hoc | 5 December 2022 12:09

Smartbroker Holding AG substantiates plans for further development of Smartbroker 2.0 and announces related extra-ordinary impairment charge

Smartbroker Holding AG / Key word(s): Alliance

Smartbroker Holding AG substantiates plans for further development of Smartbroker 2.0 and announces related extra-ordinary impairment charge

05-Dec-2022 / 12:09 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Ad Hoc Notification

Disclosure of an inside information acc. to Article 17 of Regulation (EU) No 596/2014 (MAR)

Smartbroker Holding AG substantiates plans for further development of Smartbroker 2.0 and announces related extra-ordinary impairment charge

The Smartbroker Group today entered into a cooperation agreement with a new partner bank for the implementation of the Smartbroker trading platform (Smartbroker 2.0). Baader Bank, the new partner, is to take over the regulated banking processes and will in particular be responsible for account management, custody account management and trade execution. The cooperation with Baader Bank is intended to allow the launch of Smartbroker 2.0 in mid-2023.

The activities to be performed by Smartbroker Group under the cooperation agreement are already covered by Smartbroker AG’s existing BaFin (Federal Financial Supervisory Authority) license as financial intermediary. The continued pursuit of the license extension application submitted in 2021 is currently under review.

The development of an own, comprehensive transaction platform will not be pursued further. Instead, the platform will be operated in cooperation with Baader Bank. In this context, the Company expects one-time non-cash impairment charges in relation to capitalized development costs for the originally planned transaction platform amounting to approximately €5 million.

Notifying person: André Kolbinger, CEO

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05-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com

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Language:	English
Company:	Smartbroker Holding AG
	Ritterstraße 11
	10969 Berlin
	Germany
Phone:	+49 (0)30 20 456 500
Fax:	+49 (0)30 20 456 500
E-mail:	info@smartbroker-holding.de
Internet:	www.smartbroker-holding.de
ISIN:	DE000A2GS609
WKN:	A2GS60
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1505033

End of Announcement	EQS News Service