Board/Management Information • Feb 27, 2014
Board/Management Information
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Corporate | 27 February 2014 12:30
DF Deutsche Forfait AG: Ulrich Wippermann resigns from Board of Management
DF Deutsche Forfait AG / Key word(s): Change of Personnel
27.02.2014 / 12:30
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
Christoph Charpentier
Kattenbug 18 – 24
50667 Cologne
T +49 221 97376-37
F +49 221 97376-60
http://www.dfag.de
End of Corporate News
27.02.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
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| 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: | [email protected] |
| 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 |
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