DGAP-News

Lloyd Fonds Aktiengesellschaft:

DGAP-News: Lloyd Fonds Aktiengesellschaft / Key word(s): Half Year
Results
Lloyd Fonds Aktiengesellschaft:

18.09.2014 / 07:21

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Corporate News

Lloyd Fonds AG: Result in first half of 2014 and outlook positive.

- Net profit in first half of the year

- Implementation of share capital reduction to improve balance sheet
quality will follow in due course

- Placement of new special-purpose real estate fund expected to begin in
October 2014

- Positive outlook for the current second half of 2014

Hamburg, September 18, 2014. In what remains a challenging market
environment, in the first half of 2014 Lloyd Fonds AG generated
consolidated net profit of 0.2 million euros (previous year: 1.2 million
euros), essentially based on its successful asset management activities.
Assets held under trust remain at a constant level above 1.6 billion euros.
Cash & cash equivalents amounted to approx. 5.8 million euros as of June
30, 2014 (previous year: 3.8 million euros). Accordingly, Lloyd Fonds AG
has a solid financial base at its disposal.

The Management Board is confident regarding the performance for the current
financial year 2014 as a whole. Despite the ongoing difficult market
conditions, consolidated earnings are expected to be in positive territory,
roughly at the same level as the previous year.

Implementation of the capital reduction adopted to take place in the next
several days
At the ordinary general meeting on August 21, 2014, with 71.43 percent of
common stock being represented, the shareholders approved the proposal to
lower the share capital with a majority of 99.90 percent. In particular,
this capital reduction is intended to bring about a substantial improvement
in balance sheet quality and to underpin the share price. In addition, the
capital reduction will help lay the foundations to be able to pay dividends
again in future.

For the shareholders, the technical implementation of the capital reduction
in a ratio of 3:1 due in a few days will mean that the number of shares
held by them will be divided by three, while the share price is expected to
see a corresponding, substantial rise. In the process, the proportion of
the share capital held by each individual shareholder and the value of his
or her holding will remain the same as of the date of conversion. Due to
the reduction, the share capital as a whole will decline from 27,469,926.00
euros to 9,156,642.00 euros.