ICN token --> Securities of ICONOMI AG

ICN tokens will be exchanged for Profit Participation Securities of ICONOMI AG (i.e. Securities/Genussscheine of ICONOMI AG), which will not be issued in a tokenized form as security tokens, but as dematerialised securities. Tokenization of Securities of ICONOMI AG (until now communicated as "eICN security tokens issuance") will take place at a later stage.

Explanation:
Due to the lack of (technical) standards for security tokens, licensed and operated trading venues/exchanges for security tokens and legal clarity, Securities will not be tokenized at issuance but will be tokenized at a later stage. The Issuer (ICONOMI AG) will re-evaluate the possibility of tokenising the Securities as soon as above mentioned conditions are met.

Has this already happened ?