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IAAC International Assets Holding Corp. (MM)

23.86
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
International Assets Holding Corp. (MM) NASDAQ:IAAC NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 23.86 0 01:00:00

International Assets -- FCStone Restructures Shareholding in Agora-X

16/02/2010 1:30pm

GlobeNewswire Inc.


International Assets (NASDAQ:IAAC)
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International Assets Holding Corporation ("INTL") (Nasdaq:IAAC) announced that its previously consolidated shareholding in Agora-X, LLC ("Agora-X") has been restructured.

INTL's wholly-owned subsidiary, FCStone Group, Inc. ("FCStone"), was instrumental in establishing Agora-X, an electronic communications network for institutional trading in over-the-counter ("OTC") commodities contracts. The change in shareholding is a result of a $6.6 million investment in Agora-X made by the NASDAQ OMX Group to fund its ongoing growth and expansion. FCStone will continue to support Agora-X as its primary OTC platform and will retain a board seat. The NASDAQ OMX's interest in Agora-X will increase from 20% to 85%, and FCStone's interest will decrease from 80% to 15%. FCStone will have an option to acquire an additional 10% at fair market value. Since INTL will no longer have a controlling financial interest in Agora-X, it will deconsolidate it as a subsidiary and recognize a resulting gain in income during the three months ending March 31, 2010.

About International Assets Holding Corporation

International Assets Holdings Corporation (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world.

Further information on INTL is available at www.intlassets.com. 

Forward Looking Statements

This press release includes forward-looking statements including statements regarding the combined company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to International Assets Holding Corporation, are intended to identify forward-looking statements.

These forward-looking statements are largely on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the combined company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by International Assets with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.

CONTACT:  International Assets Holding Corporation

Investor inquiries:

Bill Dunaway

1-866-522-7188

bdunaway@intlassets.com

Brainerd Communicators, Inc.

Media inquiries:

Joseph LoBello

1-212-986-6667

lobello@braincomm.com

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