Stockholm IT Ventures AB: STOCKHOLM IT VENTURES AB ANNOUNCES THE INTENTION TO CHANGE ITS NAME TO REFLECT THE STRATEGIC DIRECTION OF THE COMPANY

Stockholm (pta041/27.06.2019/14:30 UTC+2) Stockholm, June 27th 2019: Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB - ISIN SE 0006027546), announces the outcome of the AGM of yesterday, June 26th 2019.

The shareholders approved and gave the CEO the mandate to investigate and instigate the change of the name of the Company to reflect more accurately the strategy of the future core business as it was outlined in the press release of May 29th, 2019:

"Stockholm IT Ventures AB strategy to be a Fintech Banking-Group will be announced in more detail shortly along with the appropriate changes to the Board of Directors combining the acquired businesses of SAS Bank, Blocktrade Technology Trading and Fantrac Global Ltd. - plus a partnership agreement with Sprinkle AB."

Due to the Annual report not being made available in time by the Company's Accountants and Auditors, it was decided to postpone the approval of the Annual report 2019 and Accounts 2019 and the election of new Board Directors to August 21st, 2019.

"The Company is entering a new and exciting stage of its development. We regret having to postpone outlining our plans to the market until the Annual report is ready, but we will have made a considerable progress by August 21st, 2019 and are looking forward briefing our shareholders at due time with what we hope they will find equally good and promising news", says Bert Scheen, CEO of Stockholm IT Ventures AB

Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company specialises in FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on Facebook, Twitter and LinkedIn.

Media contact:
Stockholm IT Ventures AB, Bert Scheen, bert.scheen@stockholmit.co

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