Latest on IronFX Australia acquisition: Nukkleus reports for the acquisition of the 9.9% of IronFX Global’s parent company and of the 100% acquisition of IronFX Australia 

Nukkleus announced that it has initially obtained a 9.9% shareholder stake in IBIH Limited (“IBIH”) the parent company of the IronFX Global Group (“IronFX”), and has also acquired 100% of an Australian regulated entity formerly owned by IBIH.

Nukkleus has entered into a Stock Purchase Agreement pursuant to which it has agreed to acquire additional equity in IBIH and, prior to such closing, Nukkleus is required to enter into an option to acquire additional Forexware and FXDD Inc. operating units.

These transactions are subject to regulatory approval where applicable.

Nukkleus Inc further announced the acquisition of selected technology assets previously owned by Forexware LLC.

The management of Nukkleus has stated that the acquisition of a 9.9% shareholder stake in IBIH, as well as the acquisition of the operations of IronFX Australia, is just a first intended step towards the Company’s long term strategy of identifying leading retail forex brands from around the world as well as leading financial technology companies related to the industry which can potentially be included and synergistically folded into Nukkleus.

It is the stated intention of Nukkleus management to maintain the separate brand identity, operational autonomy, and segregated customer deposits for each individual retail forex brand it may potentially acquire in the future; while simultaneously capitalizing on efficiencies afforded by scale, shared backbones and optimized regulatory capital structure.

As a result of these above described transactions, which were entered into in May of 2016, as well as further contemplated transactions, Nukkleus’ goal is to create an industry leading, sector consolidation platform combining strong global retail and institutional trading flows covering FX, commodities, futures, CFD and equities with a cutting edge technological product suite and turnkey software and technology development capabilities. These contemplated transactions could potentially result in a global financial trading and financial technology group with operations and clients spanning more than 200 countries around the world, offices in 11 cities with more than 300 employees, covering the main global financial centers (New York, London, Hong Kong, Sydney and Johannesburg) as well as one of the most comprehensive regulatory licenses coverage in the world.

Nukkleus is supported by a veteran group of industry leading shareholders and prospective board of directors members. Its Chief Executive, Emil Assentato, was previously the Chief Executive Officer of Tradition North America, a leading inter dealer broker. Tradition North America is owned by Compagnie Financiere Tradition, which is a global brand in the inter dealer brokerage world. Mr. Assentato brings over 30 years of Wall Street experience to Nukkleus.

Prospective additions to the board of directors of Nukkleus, which are presently being considered include Markos A. Kashiouris, who is the founding shareholder of the Iron FX Global Group, and Craig J. Marshak, a private investor and FX industry specialist who has been engaged in the industry over the past ten years both as an advisor and investor.

Source: EDGAROnine

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