Corporate | 27 February 2014 12:30
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DF Deutsche Forfait AG / Key word(s): Change of Personnel
Corporate News Change of Personnel DF Deutsche Forfait AG: Ulrich Wippermann resigns from Board of Management Cologne, 27 February 2014 – Ulrich Wippermann has resigned from the Board of Management of DF Deutsche Forfait AG (Prime Standard, ISIN: DE0005488795) with immediate effect. His employment relationship with DF Deutsche Forfait AG was terminated simultaneously. These actions follow the February 6, 2014 designation of Mr. Wippermann and DF Deutsche Forfait AG on the US Treasury Department’s Office of Foreign Assets Control’s (OFAC) list of Specially Designated Nationals and Blocked Persons (SDN List) and are part of the company’s continuing efforts to resolve this matter with OFAC as quickly as possible based on remediation of possible sanctions risks relating to Iran. Deutsche Forfait AG is not aware that the company nor Mr. Wippermann have committed violations of US sanctions law and look forward to continue the process with OFAC with the goal of removal from the SDN List. About DF Group The main business activities of DF Group are the purchase and sale of selected export receivables in emerging markets on a non-recourse basis. The objective is to sell the acquired receivables at the same time or in the short term. Forfaiting is an increasingly important tool in export financing, with volumes rising in line with the continuing advance of globalization. Creating tradable products from receivables benefits both exporters and buyers. As well as transferring risk to the buyer, the main benefit of forfaiting for exporters is the inflow of cash. This relieves the exporters’ credit lines and improves their balance sheet structure. DF Deutsche Forfait AG structures receivables attractively, so that investors seek them as a type of investment.
DF Deutsche Forfait AG
Kattenbug 18 – 24
End of Corporate News 27.02.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | DF Deutsche Forfait AG | |
| Kattenbug 18-24 | ||
| 50667 Köln | ||
| Germany | ||
| Phone: | +49 (0)221 – 973 76 0 | |
| Fax: | +49 (0)221 – 973 76 76 | |
| E-mail: | dfag@dfag.de | |
| Internet: | www.dfag.de | |
| ISIN: | DE0005488795, DE000A1R1CC4, | |
| WKN: | 548879, A1R1CC | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 254753 27.02.2014 |