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Intellego Tech.

$INT The situation surrounding Intellego Technologies has worsened massively since the Nasdaq deadline expired last Friday. Contrary to the hope that the KPMG report would quickly clarify the situation, new, serious negative factors have emerged in recent days.

On December 17, the company announced that the major investor Heights Capital Management had filed official claims against Intellego. These claims are related to the capital increase on October 27, 2025, in which Heights Capital had subscribed for shares. As Intellego is still waiting for the exact specification of the amount of damages and the justification, it remains unclear whether it is a recovery of capital or compensation. However, this signals that institutional investors are now also taking legal action, which massively increases the financial pressure on the company.

In addition, it was announced on December 15 that proceedings have now also been initiated against board member Johan Möllerström on suspicion of serious fraud. This is a significant escalation as, following the arrest of former CEO Claes Lindahl in November, another key member of the company's management is now under criminal suspicion.

Trading in the share on Nasdaq First North remains completely suspended. The stock exchange is still intensively reviewing the company's statement submitted on December 12. A decision on the intended delisting or a possible resumption of trading is still pending. Market participants are particularly critical of the fact that the results of the forensic investigation by KPMG, which Intellego had firmly promised to publish, have still not been made available to the public. The lack of transparency with regard to these audit results further fuels the existing doubts about the integrity of the accounting.

9 Comentários

Daniel@Daniel1212

Shit* timing. With a loss this year, I could have recouped almost €600 in tax. Well... So in 2026 I have a €3,500 higher tax-free allowance. Yayy...

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Smudo@Smudeo

@Daniel1212 does not mean that it is tradable

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Daniel@Daniel1212

@Smudeo What exactly do you mean by that? Does that mean that if it is no longer traded, I have no way of realizing my loss? My broker and the state would not recognize that?

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HyperX@AxoWallStreet

@Daniel1212 I assume that in the event of a delisting, you will then have to see how you can sell the shares (if at all). But you can certainly declare the realized loss in your tax return (just 2027 for 2026 🤦🙈)

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PikaPika0105@PikaPika0105

@Daniel1212 was also hoping for the tax...... is delisting and derecognition from the portfolio not a regular loss? So that doesn't go into the loss offset pot then?

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HyperX@AxoWallStreet

@Daniel1212, @PikaPika0105

Delisting from Trade Republic (or other German brokers) does not automatically mean losing your property, but it does make trading and tax claims much more complicated.
Here is the step-by-step explanation of what happens in this case:
1. ownership vs. tradability
The shares remain your property: Just because a share is delisted does not mean it disappears from your securities account. You are still a co-owner of the company.
Trading halt: Trade Republic usually trades via the L&S Exchange. If a delisting takes place there, you can simply no longer sell the share via the app. It then remains in your view as a "deposit corpse", often without a current price.
2. how can you still sell the shares?
If trading on Trade Republic has been discontinued, you usually have two options:
Depot transfer: you can try to transfer the shares to another broker that supports trading on foreign stock exchanges or over-the-counter (OTC) trading.
Worthless derecognition: If the share no longer has any value (e.g. following insolvency), you can ask Trade Republic's support team to "derecognize" the position. In doing so, you waive your rights to the shares in order to get the securities account "clean".
3. tax assertion (loss pot)
This is the most difficult part. In order for a loss to end up in the share loss offset pot, a genuine sale must have taken place.
No automatism in the case of delisting: A mere delisting is not a tax loss. The price loss is only a "book loss" as long as the share is in your securities account.
Problem with derecognition: If you have the share "derecognized without value" by the support team, brokers often do not automatically enter this in the loss pot. This is due to a complicated regulation in tax law (Section 20 (6) EStG).
Tax return is mandatory: Since 2020, losses from worthless assets or total losses can be claimed for tax purposes up to an amount of €20,000 per year. However, this is usually not done via the broker, but you must have the loss certified by the broker and declare it in your income tax return (Annex KAP).

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Daniel@Daniel1212

@AxoWallStreet Thank you very much for the clarification. Let's hope that a delisting will not take place. Although I think that is very unlikely.
And if I can no longer sell them, I hope that DKB (through which I hold the shares) will automatically send me confirmation that the shares have been derecognized. They are actually always very quick with their correspondence...

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Smudo@Smudeo

@Daniel1212 Yup 😀 then good luck to "us", I've been through more delistings, expiries, etc. The first time it hurts, the rest of the time the "diversification" profit compensates for the effort

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TradingHase@TradingHase

@Daniel1212 Take comfort, we are not alone 🙈

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