Repeat by Jool | The world of business


Repeat from Jool:

In the article entitled "Race of Jools against the clock" published in Affärsvärlden number 18/2019 on May 2, 2019 and in on May 1, 2019, it is stated that I, Tom Olander and the group JOOL behind a "success phase" hide "questionable sales methods" and "controversial trading partners."

The fact is that JOOL Markets AS has received a decision from the Norwegian Financial Supervisory Authority, which means that the company's license has been revoked. However, the decision was appealed and awaits further review.

The article also contains several additional incorrect instructions. The two most egregious are that the bonds and loans of SEK 2.4 billion are in some kind of problematic situation and that the JOOL group offers "loans in crisis" or loans with 40% or 100% on annual interest rates. The correct conditions are that 80% will be reimbursed at face value – based on the information of each issuer – in the 9% of the products issued where credit events occurred or major changes in conditions and that the RAG group's normal interest rate is on average 10% and There have never been "loans in crisis" or loans with 40% or 100% annual interest.

Tom Olander, CEO of JOOL Capital Partner AB

Comment by Affärsvärlden:

The business world is stuck with the publication (read the article here) and does not consider the article to contain errors.

The authorization of Jool Markets AS was withdrawn as the Danish Financial Supervisory Authority, in connection with an oversight issue, found a large number of breaches of the applicable regulations. That the decision is appealed is indicated in the article.

Affärsvärlden also summarizes the bonds and other claims that have had problems for SEK 2.4 billion. This compilation is based on cases where the original conditions could not be met, for example by moving the maturity date forward, bonds converted into shares or when repayment was not at all possible due to bankruptcy.

When it comes to evaluating companies that the future rate of payment is good, it is also clear from the original publication.
Information on loans at annual interest rates of 40% and above 100%, respectively, is based on loan documents and other written documentation to which Affärsvärlden has access.

Erik Wahlin
Editor-in-chief and publisher in charge
The world of business


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