Fürstenberg Capital Erste GmbH
Fürstenberg Capital Erste GmbH: Earnings prospect / potential loss of interest
Fürstenberg Capital Erste GmbH / Key word(s): Miscellaneous AD-HOC-ANNOUNCEMENT Fürstenberg Capital Erste GmbH: Earnings prospect / potential loss of interest Fürstenberg Capital Erste GmbH (formerly known as Fürstenberg Capital GmbH) (“Issuer”), on the basis of an ad-hoc announcement according to Art. 17 MAR by Norddeutsche Landesbank Girozentrale, Hanover (“NORD/LB”) dated April 3rd, 2019, was made aware of the fact that as of today NORD/LB expects that the 2019 financial year will be concluded at a loss. A negative result shown in the unconsolidated financial statements of NORD/LB for the financial year 2019 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 2019 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 2019 could, in particular, result in Noteholders not receiving interest payments on the Capital Notes in the year 2020. 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 Germany
04-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Fürstenberg Capital Erste GmbH |
Meinbrexener Str. 2 | |
37699 Fürstenberg | |
Germany | |
Phone: | 05271-697638 |
Fax: | 05271-697623 |
Internet: | www.fc-bkm.de |
ISIN: | XS0216072230 |
WKN: | A0EKD5 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart, Tradegate Exchange; Amsterdam |
EQS News ID: | 795873 |
End of Announcement | DGAP News Service |