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Argentex Group PLC - London-based foreign exchange provider - Says its subsidiary, Argentex BV, has been granted an electronic money institution licence in the Netherlands by the Dutch National Bank. Licence allows Argentex BV to authorise and manage electronic money on behalf of its users. The licence is a ‘key milestone’ in the delivery of Argentex's international growth strategy. The company says it is ‘one of the very few holders’ of this licence in the Netherlands. Eppo Heemstra will chair Argentex BV's supervisory and management board.
Chief Executive Officer Harry Adams commented: ‘This is an exciting moment for our business, providing further regulatory validation and creating a proven gateway to Europe via a credible jurisdiction as our internationalisation strategy deepens...Argentex places regulatory compliance and risk management at the heart of its business strategy and obtaining an EMI licence from a gold standard EU regulator is testament to this unrelenting focus.’
Current stock price: 82.80, up 1.4% on Friday morning
12-month change: down 17%
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