Varengold Bank AG

Share Issue/Capital Change • Feb 19, 2020

News Details

Corporate | 19 February 2020 15:52

Varengold Bank AG: 727,381 new shares issued

DGAP-News: Varengold Bank AG / Key word(s): Capital Increase/Miscellaneous

19.02.2020 / 15:52

The issuer is solely responsible for the content of this announcement.

Hamburg, 19th February 2020 – Varengold Bank AG has carried out a capital increase under exclusion of subscription rights for existing shareholders by using the existing authorized capital.

The company’s share capital was increased from EUR 9,315,634.00 against cash contributions by EUR 727,381.00 to EUR 10,043,015.00 by issuing 727,381 new shares. All shares were placed at an issue price of EUR 3.85 per share. The Management Board has succeeded in acquiring other institutional investors in addition to existing investors. With the strengthening of the capital base, Varengold Bank is still on a growth path and the new funds will be partly used to refinance credit platforms in the area of marketplace banking.

The capital increase was entered in the commercial register on 17 February 2020.

Disclaimer

This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.

Contact:

Ms. Sanja Schultz-Szabo (Head of Corporate Development)

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19.02.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	Varengold Bank AG
	Große Elbstraße 14
	22767 Hamburg
	Germany
Phone:	+49 (0)40 / 668649-0
Fax:	+49 (0)40 / 668649-49
E-mail:	investorrelations@varengold.de
Internet:	www.varengold.de
ISIN:	DE0005479307
WKN:	547930
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich, Stuttgart
EQS News ID:	979291

End of News	DGAP News Service