EQS-Adhoc: Varengold Bank investigates new potential business areas

Hamburg, 10/09/2024 – At today's Supervisory Board meeting, the Supervisory Board and  Management Board of Varengold Bank AG [ISIN: DE0005479307] agreed on the fundamentals of a business model which, in addition to the established Marketplace Banking segment, includes the expansion of business in the area of ESG financing with a special focus on energy transition. In order to sharpen the profile and adapt to changing conditions, it was also decided to immediately discontinue payment transactions with Iran for the processing of humanitarian imports. The Management Board will further detail the business model in the coming weeks and present it to the Supervisory Board for a final resolution. In consideration of the many challenges involved in implementing the business model, the Supervisory Board plans to expand the Management Board.
 

Dr. Bernhard Fuhrmann  
Management Board

Frank Otten
Management Board             
 

Disclaimer

This notification is a mandatory notification according to Art. 17 MAR. The assessments contained are subject to the following caveats.

Disclaimer on forward-looking statements / no duty to update
This communication contains forward-looking statements that are subject to certain risks and uncertainties. Future results may differ materially from those currently expected, namely due to various risk factors and uncertainties such as changes in the business, economic and competitive situation, fluctuations in exchange rates, uncertainties regarding legal disputes or investigations, and the availability of financial resources. The reader should therefore not over-rely on these statements, particularly in connection with contracts or investment decisions. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this communication.

Note
This announcement does not constitute an offer or invitation to subscribe for or purchase any securities of Varengold Bank AG in the United States of America, Germany or any other jurisdiction. This announcement does not constitute a recommendation regarding the placement of the securities described in this announcement.

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