EANS-Adhoc

immigon portfolioabbau ag / immigon portfolioabbau ag updates the plan and outlook for 2017 (6 December 2016)

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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) 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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Earnings Forecast/Company Information
06.12.2016

immigon portfolioabbau ag (formerly Österreichische
Volksbanken-Aktiengesellschaft), Peregringasse 2, 1090 Vienna,
FN116476p ("immigon"), is a wind-down company in accordance with §
162 of the Federal Act on the Recovery and Resolution of Banks
("BaSAG"). immigon reviews the legally required wind-down plan on a
regular basis. On 6 December 2016, the management board (Vorstand) of
immigon has resolved to adopt an updated plan based, inter alia, on
the results successfully achieved so far in the wind-down. According
to this updated plan immigon expects that it will have a positive
annual net profit (Jahresüberschuss) despite negative interest income
in the solo financial statements in accordance with the Austrian
Commercial Code (UGB) (i.e. results before changes in reserves). Such
profit is expected to be sufficient to pay interest on the
outstanding supplementary capital (Ergänzungskapital), subject to the
respective terms and conditions, but not on other profit dependent
own funds instruments, as for example the issues of ÖVAG Finance
(Jersey) Limited and Investkredit Funding Limited.

immigon as wind-down company continues to be exposed to uncertainties
and risks in its wind-down process, including, inter alia, risks
related to the proceeds achievable in the course of the sale of its
assets, outstanding loans, higher expenses and warranty claims.

Mandatory information pursuant to the Disclosure and Notification
Regulation (Veröffentlichungs- und Meldeverordnung - VMV): The
following issues of participation capital (Partizipationskapital) of
immigon are admitted to trading on a regulated market in a Member
State of the European Economic Area: ISIN: XS0359924643 EUR
500.000.000 Perpetual Non Cumulative Participation Capital
Certificates (issued by Banque de Luxembourg as trustee) The five
exchange-listed bonds issued by immigon with the highest nominal
volume outstanding are: ISIN: AT000B056544; AT000B053442;
AT000B115902; AT000B060462; AT000B059456 Securities issued by immigon
are admitted to trading on the following stock exchanges: Geregelter
Freiverkehr of the Vienna Stock Exchange (Wiener Börse AG) Regulated
Market of Luxembourg Stock Exchange Open market (Freiverkehr) of
Berlin Stock Exchange Open market (Freiverkehr) of Stuttgart Stock
Exchange Open Market (Freiverkehr) of Frankfurt Stock Exchange

Further inquiry note:
Thomas Heimhofer
immigon portfolioabbau ag
Mobil: [phone]
Mail to: [e-mail]

end of announcement euro adhoc
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issuer: immigon portfolioabbau ag
Peregringasse 2
A-1090 Wien
phone: [phone]
mail: [e-mail]
WWW: www.immigon.com
sector: Banking
ISIN: AT000B056544, AT000B053442, XS0275528627, AT000B060462,
AT000B115902
indexes:
stockmarkets: free trade: Berlin, Stuttgart, regulated dealing: Luxembourg Stock
Exchange, Regulated free trade: Wien
language: English