Fürstenberg Capital Erste GmbH
Fürstenberg Capital Erste GmbH: Earnings prospect / potential loss of interest
Fürstenberg Capital Erste GmbH / Key word(s): Bond 19.05.2016 19:00 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------------AD-HOC-ANNOUNCEMENT Fürstenberg Capital Erste GmbH: Earnings prospect / potential loss of interest Today, 19 May 2016, Fürstenberg Capital Erste GmbH (formerly known as Fürstenberg Capital GmbH) ("Issuer"), on the basis of a publication by Norddeutsche Landesbank Girozentrale, Hanover ("NORD/LB"), was made aware of the fact that NORD/LB currently expects a negative result for the unconsolidated financial statements of the financial year 2016. A negative result shown in the unconsolidated financial statements of NORD/ LB for the financial year 2016 could adversely affect the payment claims of the Issuer under the agreement on the establishment of a silent partnership entered into by and between the Issuer and NORD/LB ("Participation Agreement"), in particular, the payment of a profit participation in respect of the financial year 2016 might be excluded due to a balance sheet deficit of NORD/LB and the silent contribution of the Issuer could share in such balance sheet deficit by way of a reduction of its book value. Such sharing of losses would, as long as the book value has not been fully replenished, exclude profit participations in subsequent financial years as well as NORD/LB's option to ordinarily terminate the Participation Agreement and, in case of an exceptional termination of the Participation Agreement by NORD/LB for regulatory or tax reasons, the repayment amount would correspond to the reduced book value of the Issuer's silent contribution. The terms and conditions of the Capital Notes (ISIN XS0216072230, Common Code 021607223, Dutch Security Code (Fonds Code) 45987, listed on the Euronext Amsterdam stock exchange - Official Segment) of the Issuer provide that payments on the Capital Notes are contingent on payments which the Issuer receives from NORD/LB pursuant to the Participation Agreement. To the extent, the Issuer does not receive such payments, the Issuer will not be obliged to make payments under the Capital Notes. Therefore, a negative result shown in the unconsolidated financial statements of NORD/LB for the financial year 2016 could, in particular, result in Noteholders not receiving interest payments on the Capital Notes in the year 2017. In addition, a reduction of the book value of the Issuer's silent contribution could result in the loss of profit participations and consequently interest payments on the Capital Notes in subsequent financial years and under certain circumstances could result in a repayment of the Capital Notes at an amount below their nominal amount. Fürstenberg Capital Erste GmbH Meinbrexener Straße 2 37699 Fürstenberg/Weser Deutschland19.05.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Fürstenberg Capital Erste GmbH Meinbrexener Str. 2 37699 Fürstenberg Germany Phone: 05271-697638 Fax: 05271-697623 E-mail: Internet: www.fc-bkm.de ISIN: XS0216072230 WKN: A0EKD5 Listed: Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart; Open Market in Frankfurt ; Amsterdam End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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