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PORTIGON AG (FRA:DE000836) Portigon AG: Expected year end results for 2019 impacted by higher provisions

Directive transparence : information réglementée

02/12/2019 17:35

DGAP-Ad-hoc: Portigon AG / Key word(s): Annual Results
Portigon AG: Expected year end results for 2019 impacted by higher provisions

02-Dec-2019 / 17:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


 

Due to the ongoing investigations by the public prosecutor in connection with dividend arbitrage transactions of the former WestLB as a precaution, Portigon AG will be required to build an additional provision for taxes on dividend payments for which a tax credit had been applied for in previous years potentially without justification, as well as interest payments in connection therewith.

Therefore, the Managing Board of Portigon AG has revised its forecast for the annual results of fiscal year 2019. The Management Board is now expecting the annual accounts for 2019 resulting in a loss in the range of approximate 500 Mio € - 600 Mio €.




Contact:
Dr. Carsten Hellinger
Head of Board Secretary
Portigon AG
Voelklinger Str. 4
40219 Duesseldorf
Dr.Carsten.Hellinger@portigon-ag.de
Tel. +49 (0) 211 826 71455

02-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Portigon AG
Völklinger Str. 4
40219 Düsseldorf
Germany
Phone: +49 (0) 211-826-71455
Fax: +49 (0) 211-826-2010
E-mail: Dr.Carsten.Hellinger@portigon-ag.de
Internet: www.portigon-ag.de
ISIN: DE0008364902, XS0100256139
WKN: 836490
Listed: Regulated Unofficial Market in Dusseldorf (Primärmarkt); Luxembourg Stock Exchange
EQS News ID: 925925

 
End of Announcement DGAP News Service

925925  02-Dec-2019 CET/CEST

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