DGAP-Adhoc

DF Deutsche Forfait AG announces details of the financial restructuring concept

DF Deutsche Forfait AG / Key word(s): Capital Reorganisation

26.11.2014 12:23

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.

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Ad-hoc announcement pursuant to § 15 WpHG

DF Deutsche Forfait AG announces details of the financial restructuring
concept

- Offer to bondholders to exchange their bonds for shares in the context
of a non-cash capital increase (debt-to-equity swap and capital
increase I)

- Proposal to reduce the nominal interest rate of the corporate bond
2013/2020 to 2% p.a. in return for a consideration yet to be specified

- Cash capital increase of up to 6.8 million shares in March/April 2015
(capital increase II)

- The lending banks have agreed to renew their credit lines and to assist
in the restructuring by lowering interest rates on the condition that
the other restructuring measures are implemented

- Concept subject to bondholders' approval and the Annual General Meeting

Cologne, 26 November 2014 - In connection with the restructuring report
"IDW S6 Sanierungsgutachten" finalised this morning, DF Deutsche Forfait AG
(Prime Standard ISIN: DE0005488795) announces the details of the company's
financial restructuring concept. The restructuring has become necessary due
to the fact that the company's operational capabilities were massively
restricted between February and October 2014 due to the listing on the
sanctions list of the US Office of Foreign Assets Control (OFAC).
Accordingly, the parent company, DF Deutsche Forfait AG, posted a loss of
approx. EUR 9.0 million for the first nine months of 2014 on the basis of
preliminary figures (previous year: profit of EUR 1.3 million). This has
greatly reduced the company's equity capital. As the company was removed
from the sanctions list on 16 October 2014 it can now implement its
established business model without any restriction whatsoever. To do this,
however, the equity base needs to be strengthened to improve the company's
risk-bearing capacity. At the same time, the company's financial expenses
have to be reduced in order to break even again as soon as possible given
the lower profitability during the relaunch phase. The company already has
letters of intent from shareholders, bondholders, potential new investors
and lending banks to share the restructuring measures listed below.The