FCA-regulated Forex and CFD broker Admiral Markets UK has boosted its capital levels, by repaying a £120,000 subordinated loan to its parent company, Admiral Markets Group AS, based in Estonia. The loan was cancelled in return for the issuance of new shares of Admiral Markets UK to the parent company, effectively moving the loan amount into the company’s capital calculation.
As of year-end 2014 Admiral Markets UK had shareholders’ equity of about £208,000, so the loan-debt exchange should increase its capital level by about 50%.
We had recently reported on the resignation of Admiral Markets UK CEO Elina Pedersen, effective March 2015.
To see the filing made on the loan repayment click here.