Varengold Bank AG

Legal Proceedings Report • Nov 5, 2015

News Details

Media | 5 November 2015 12:55

Varengold Bank AG: Correction of news coverage in Denmark

(DGAP-Media / 2015-11-05 / 12:55)

Hamburg, 5th November 2015 - The Management Board of Varengold Bank AG
expressly distances itself from the following allegations made in a Danish
news coverage dated on 4th November 2015:

Varengold Bank AG is not the focus of a case of tax fraud in Denmark. It
has no knowledge of any Danish transactions and was therefore also not
involved in such transactions.

Furthermore and contrary to the news coverage, Sanjay Shah is not the main
shareholder of Varengold Bank AG. It is correct that Sanjay Shah indirectly
has a shareholding of less than 10% in Varengold Bank AG via an investment
vehicle. It is also not correct that 99.9% of Varengold Bank AG shares are
held by a total of three major shareholders. Furthermore, it is accurate
that no investor holds more than 10% of shares in Varengold Bank AG.

Varengold Bank AG is looking into legal steps against this false
allegations and would like to apologise to its cooperation partners and
customers for the unpleasantness caused by the news coverage.

End of Media Release

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Issuer: Varengold Bank AG
Key word(s): Finance

2015-11-05 Dissemination of a Press Release, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Varengold Bank AG
Große Elbstraße 27
22767 Hamburg
Germany
Phone: +49 (0)40 / 668649-0
Fax: +49 (0)40 / 668649-49
E-mail: info@varengold.de
Internet: www.varengold.de
ISIN: DE0005479307
WKN: 547930
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt

End of News DGAP Media

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