20.06.2018
DF Deutsche Forfait AG DE000A2AA204
DGAP-Adhoc: DF Deutsche Forfait AG: Loss in the amount of half the share capital
DGAP-Ad-hoc: DF Deutsche Forfait AG / Key word(s): Statement/AGM/EGM
DF Deutsche Forfait AG: Loss in the amount of half the share capital
20-Jun-2018 / 13:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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DF Deutsche Forfait AG - Loss in the amount of half the share capital
Gruenwald, 20 June 2018 - In the context of an analysis of the consequences
of the USA's withdrawal from the international nuclear deal with Iran and
the reactions by the remaining parties to the deal, the Board of Management
of DF Deutsche Forfait AG (ISIN share: DE000A2AA204; ISIN bond:
DE000A1R1CC4,) today stated that a loss in the amount of half the share
capital of the holding company, DF Deutsche Forfait AG, has been incurred.
This loss is attributable to a waiver of the repayment of a shareholder loan
granted by DF Deutsche Forfait AG in its capacity as holding company to its
operating subsidiary, DF Deutsche Forfait GmbH. This waiver became necessary
because the planning of the operating subsidiary, DF Deutsche Forfait GmbH,
for the year 2018 and, consequently, the valuation of DF Deutsche Forfait
GmbH are adversely affected by the USA's withdrawal from the nuclear deal,
the extent of which had not been expected, as well as by the associated
sanctions imposed by the USA. As a result of these sanctions, the Board of
Management - following an extensive analysis in which European and US law
firms were closely involved - now projects a clear loss for DF Deutsche
Forfait GmbH and DF Group for the financial year 2018, as business with Iran
is subject to substantial restrictions. Against this background, the Board
of Management of DF Deutsche Forfait AG today decided to waive the repayment
of the EUR 2.5 million shareholder loan granted to its operating subsidiary,
DF Deutsche Forfait GmbH, in order to strengthen the latter. As a result,
the share capital of DF Deutsche Forfait AG has dropped below EUR 5.9
million.
The company is nevertheless confident that, in spite of the much more
challenging framework conditions, it will be able to develop a viable
business model for the future, which retains the strategic focus on
financing solutions for trading activities in the Near and Middle East.
The Board of Management will immediately convene an Annual General Meeting
to inform the shareholders of the loss in the amount of half the share
capital in accordance with Section 92 (1) of the German Stock Corporation
Act (AktG).
DF Deutsche Forfait AG
Hirtenweg 14
82031 Gruenwald
P +49 89 21551900-0
F +49 89 21551900-9
E [email protected]
http://www.dfag.de/en
Investor Relations/Press
Frederic Hilke
IR.on AG
P +49 221 9140 970
E [email protected]
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20-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DF Deutsche Forfait AG
Hirtenweg 14
82031 Grünwald
Germany
Phone: +49 89 21551900-0
Fax: +49 89 21551900-9
E-mail: [email protected]
Internet: www.dfag.de
ISIN: DE000A2AA204, DE000A1R1CC4,
WKN: A2AA20, A1R1CC
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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697177 20-Jun-2018 CET/CEST
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