December 2, 2018
The management of New Motor Media N.V. is proud to announce that it’s reached an agreement with its majority shareholders today to spin out its former motor sports-related businesses in order to facilitate a new strategic direction of the company. On the upcoming Annual Shareholders Meeting, the majority shareholder, Mr. Anthony Norman, is going to suggest that the company’s name is changed to Wellmont Capital Group N.V. and that it approves the sales transaction.
In addition, a capital increase to be made by contribution in kind as well as cash contributions are expected to be approved. The majority shareholder will in time for the AGM nominate a new set of directors for the company’s board.
The company’s new strategic direction is to provide retail clients with access to cross-asset banking in the form of traditional currency as well as a cryptocurrency. Both will be integrated with other securities such as bonds and shares in a seamless wallet interface. The first rollout of client services is expected in the first quarter of 2019 alongside a series of strategic acquisitions.