ICONOMI AG securities (ICNGS) exchange

Introduction:

Since the last assembly vote, we are taking the next step for the ICONOMI AG securities (ICNGS) > ICONOMI LTD, UK share (ICNS) conversion process.

At the end of 2018, we chose Liechtenstein because we needed a legal framework where the security register is kept within the company because of STO plans. This was the basis for ICONOMI AG securities (ICNGS) formation. But since STO development is lagging since and we do not see short or even mid-term progress, we decided to cut the costs of maintaining such a complex structure. That is why we are moving to a cheaper, simpler, and leaner company structure. Also with that change, we are making ICONOMI AG securities (ICNGS) owners direct owners of ICONOMI LTD via ICONOMI UK shares (ICNS) (ICNS - the Ordinary Shares have attached to the full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights or redemption).

You can exchange your ICONOMI AG securities (ICNGS) for ICONOMI UK shares (ICNS) or ETH via an updated OTC Bulletin board on the ICONOMI platform.

> Start of the conversion: 14.9.2020 (14:00 CEST)
> End of the conversion: 16.11.2020 (14:00 CET)

 

(DISCONTINUED!)

Please login to your ICONOMI account > go to the OTC page > select "ICNGS conversion" tab > follow the onscreen instructions

Note: in case you don't see the updated OTC Bulletin board with the "ICNGS conversion" tab, please hard refresh your browser.

You only have to fill in the number of ICONOMI UK shares you want to receive. Based on your decision you will be presented with the following options:

A. Buy additional ICNGS (with ETH) and exchange them with UK shares (each rounded 10,000 ICNGS results in 1 UK share)

B. Partially sell ICNGS (in case you hold more than 10,000 ICNGS) to meet the desired UK shares amount (each rounded 10,000 ICNGS results in 1 UK share). For the ICNGS surplus, you will receive ETH to your ICONOMI account.

Example:
ICNGS holder has 67k ICNGS.
In such case the user may do the following (case examples):

A.1. User wants to receive 7 UK shares: During the ICNGS exchange process user has to buy the missing 3k ICNGS (with ETH; exchange rate is 0.1 EUR per ICNGS) in order to round his ICNGS amount to 70k and receive 7 UK shares in the exchange process
A.2. User wants to receive 9 UK shares: During the ICNGS exchange process user has to buy the missing 23k ICNGS (with ETH; exchange rate is 0.1 EUR per ICNGS) in order to round his ICNGS amount to 90k and receive 9 UK shares in the exchange process

B.1. User wants to receive 6 UK shares: During the ICNGS exchange process user will sell the 7k ICNGS “surplus” (exchange rate is 0.1 EUR per ICNGS; user will receive ETH to his/her ICONOMI account) in order to round his ICNGS amount to 60k and receive 6 UK shares in the exchange process
B.2. User wants to receive 4 UK shares: During the ICNGS exchange process user will sell the 27k ICNGS “surplus” (exchange rate is 0.1 EUR per ICNGS; user will receive ETH to his/her ICONOMI account) in order to round his ICNGS amount to 40k and receive 4 UK shares in the exchange process

C. Sell All ICNGS for ETH (“exit” the shareholder status) - in the UI enter you want to receive "0" ICONOMI UK shares. You will sell all ICNGS for compensation of 0.1 euro per ICNGS and receive ETH to your ICONOMI account.

Users (US, Canada, …) that want to proceed with options A.

Users (US, Canada, …) that want to proceed with options A. and are prevented from using ICONOMI platform functionalities (like depositing assets/ETH to ICONOMI to buy additional ICNGS) may contact our support. Support tickets will be resolved on a 1:1 basis.

IMPORTANT: Users that do not respond to the ICNGS conversion process in time

In case the ICNGS holder does not respond to the ICNGS conversion process in time (deadline is 16.11.2020, 14:00 CET) the security owner keeps ICONOMI AG Securities (ICNGS) and stays within the Liechtenstein entity, which will go into liquidation. Once liquidated, the securities owners will get a proportionate share of the liquidation value – which may vary. This option is the least favorable for security owners since it comes with uncertainties.

Additional information

• ICNGS will NOT be automatically exchanged. ICNGS holders action is required via OTC bulletin board as described above.
• ICNGS for ETH exchange (both ways - buy or sell ICNGS): exchange rate is 0.1 EUR per ICNGS. All transactions are processed via ETH.
• ICNGS for ICONOMI UK shares exchange: each rounded 10,000 ICNGS results in 1 UK share
• ICNGS exchange actions (buy, sell, exchange for ICONOMI UK shares or ETH) do not affect other investors related assets/balances the user is holding (Strategy 1 (FRST), Strategy 2 (SCND) and Strategy 2 related airdrops)
• Looking at the ratio of 10.000 ICNG for 1 UK share and the fact that there is a total issue of 49.726.103 ICNGS, there will be approximately 4973 ICONOMI UK shares (ICNS).