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    EANS-Adhoc  1621  0 Kommentare Investkredit Funding Ltd. / EGM approves wind down of Österreichische Volksbanken-Aktiengesellschaft

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    ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
    distribution. The issuer is solely responsible for the content of this
    announcement.
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    Strategic management decisions/Company Information
    23.12.2014

    An Extraordinary General Meeting of Österreichische
    Volksbanken-Aktiengesellschaft (VBAG) today unanimously took the
    decision in principle that VBAG's business model is to be changed.
    The aim is for VBAG to become a "run down company"
    (Abwicklungsgesellschaft) in particular as per Section 162 of the
    draft Federal Law on Bank Recovery and Resolution (Banken Sanierungs-
    und Abwicklungsgesetz). When VBAG is put into run down status, it is
    also planned for central institution functions and related assets and
    liabilities to be taken over by Volksbank Wien-Baden AG.

    The run down of VBAG is subject to approval from a number of bodies,
    notably the European Commission for Competition, the European Central
    Bank and the national authorities.

    Investkredit Funding therefore assumes that VBAG will, subject to the
    necessary approvals mentioned above, cease to be a going concern in
    the future. Investkredit Funding's sole asset is supplementary
    capital issued by Investkredit Bank AG, a company merged into VBAG in
    2012, which is loss absorbing according to the Austrian Banking Act
    and may only be repaid before liquidation after deduction of
    allocated net losses. Up to now no net losses have been allocated to
    this instrument. Depending on the success and timing of the run down
    of VBAG, this might lead to further impairment of Investkredit
    Funding's asset and thus have a negative impact on the value and
    ultimately the potential repayment of the limited Recourse Notes
    issued by Investkredit Funding.

    Further inquiry note:
    Investkredit Funding Ltd.

    Karl Kinsky

    Tel.: +43 0 50 4004 - 3338

    mailto:karl.kinsky@volksbank.com

    end of announcement euro adhoc
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    issuer: Investkredit Funding Ltd.
    13. Castle Street
    UK-JE4 5UT St. Helier, Jersey Channel Islands
    sector: Financial & Business Services
    ISIN: DE0009576108
    indexes:
    stockmarkets: official market: Frankfurt, Wien
    language: English






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    EANS-Adhoc Investkredit Funding Ltd. / EGM approves wind down of Österreichische Volksbanken-Aktiengesellschaft - ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. - Strategic management decisions/Company Information 23.12.2014 An Extraordinary …