Corporate | 6 May 2015 12:54
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DF Deutsche Forfait AG / Key word(s): Corporate Action/Final Results
Audited consolidated financial statements of DF Deutsche Forfait AG for 2014 pave the way for the implementation of the capital measures
Cologne, 6 May 2015 – By publishing its consolidated financial statements for the 2014 financial year on Friday, 30 April 2015, DF Deutsche Forfait AG (Prime Standard, ISIN: DE000A14KN88) has laid the basis for the successful implementation of the remaining equity measures forming part of the company’s restructuring exercise. Says Frank Hock, CFO of DF Deutsche Forfait AG: “The audited consolidated financial statements for 2014 and the confirmation of the going concern prospects according to the IDW S6 restructuring report represent another important step towards DF Group’s financial restructuring.” DF Group posted a high consolidated net loss of EUR 15.5 million (previous year: EUR -12.6 million) for the past year. The loss was primarily due to the listing of DF Deutsche Forfait AG in the sanctions list of the Office of Foreign Assets Control (OFAC), an agency of the US Treasury. The consolidated gross result including financial results declined from EUR -0.5 million to EUR -3.8 million in the 2014 financial year. As a result of the consolidated net loss, DF Deutsche Forfait AG reported negative equity of EUR 5.3 million at the end of 2014 (previous year: positive equity of EUR 10.2 million). The preparations of the upcoming capital measures are well advanced. A collateralization concept has meanwhile been agreed with the joint representative of the bondholders and the lending banks, securing the approval of all parties involved. The documentation for the granting of loans for the amount of EUR 40 million with a term until 31 December 2016 will be finalized shortly. The swap offer relating to the non-cash capital increase will be published soon. For the non-cash capital increase an amount of up to 3.4 million shares is available from authorized capital. The swap period is scheduled to begin in mid-May. In addition, the company is preparing the planned cash capital increase in the amount of up to EUR 10 million, for which the subscription period is expected to start in mid-June.
Says Frank Hock: “We have received a large number of letters of intent from investors for both of the planned equity measures, making us optimistic that all measures can be concluded by early July and enabling us to underwrite new business as before in the second half of 2015. These letters of intent, which have been received not only from long-standing shareholders of the company but also from many new investors, confirm the confidence they place in our business concept and take into account the substantial progress we made in the restructuring of DF-Group.”
About DF Group
DF Deutsche Forfait AG
2015-05-06 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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: | DE000A14KN88, DE000A1R1CC4, | |
| WKN: | A14KN8, A1R1CC | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart | |
| End of News | DGAP News-Service |
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| 353771 2015-05-06 |