DGAP-News: GANÉ Aktiengesellschaft: Statement on current events concerning GRENKE AG

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DGAP-News: GANÉ Aktiengesellschaft / Key word(s): Statement/Miscellaneous
GANÉ Aktiengesellschaft: Statement on current events concerning GRENKE AG

21.09.2020 / 08:30
The issuer is solely responsible for the content of this announcement.


Press release

Statement on current events concerning GRENKE AG

Aschaffenburg, 21/09/2020 - Wolfgang Grenke started 42 years ago as a fully liable businessman facilitating investments in IT and Office Equipment for companies by offering leasing services. Within the first year, he and two employees were already in charge of 21 specialist dealers and 198 leasing contracts. From this nucleus he developed today's GRENKE AG into a successful group with a large international presence and high reputation. With more than 1,700 employees, GRENKE AG is now looking after 40,000 specialist dealers and 972,000 leasing contracts in 33 countries. To assume that Mr. Grenke enriched himself to the detriment of the co-workers whilst creating this life's work, in which he and his family are holding an equity share of 41%, seems fallacious to us. In fact, most of the decisive growth and earnings drivers established by Mr. Grenke for the success of the business model are still in place today: Comprehensive standardization and digitization of business processes as well as a crisis-resistant risk management strategy that has proven itself over many years. Over many years as a partner and co-owner, we have been able to assure ourselves of this in our capacity as external minority shareholder. The acting individuals in the board of directors and supervisory board of GRENKE AG represent values that correspond to ours for sustainable and profitable business in a fair working environment. The allegations of fraud and manipulation, which Viceroy Research has raised with the purpose of causing a crash in GRENKE AG shares, are in stark contrast to this. We cannot derive any indications from the allegations that the consolidated financial statements from GRENKE AG (as of 31st of December 2019) do not convey a true and fair view of the assets, financial and earnings position. Nevertheless, the reappraisal of current events shows that GRENKE AG, like every successful company, has further potential for improvement. In particular, the increasing legal and organizational requirements in Governance, Risk Management & Compliance (GRC) are increasing the pressure on medium-sized and formerly owner-managed companies. In this respect, we consider an organizational change and further development of the successful Franchise-System of GRENKE AG necessary. We support Wolfgang Grenke and GRENKE AG in continuing their success story as a global financing partner for small and medium-sized companies.
 

 

About the GANÉ Aktiengesellschaft
GANÉ Aktiengesellschaft, Aschaffenburg, manages its own assets and, as a fund consultancy firm, is responsible for a volume of EUR 4,5 billion. GANÉ Aktiengesellschaft is one of the leading and most prestigious non-bank fund advisors in Germany. The managing directors Dr Uwe Rathausky and J. Henrik Muhle were named "Fund Managers of the Year in 2019" for their efforts. The key factor in the decision made by the financial publisher's jury was the consistent success achieved by the ACATIS GANÉ Value Event balanced fund, designed and managed by Dr Uwe Rathausky and J. Henrik Muhle.

Note: The data is for informational purposes only. The data is solely directed at professional clients or suitable counterparties in terms of the Securities Trading Act, and is not intended for retail customers.The published information does not constitute any counseling or advice or a recommendation to subscribe or an offer to buy or sell any securities or other financial products. The content provided serves solely for general information purposes. The sales prospectus, the current financial report and the current half-year report are the sole binding basis for the purchase of fund or sub-fund units. Historical data is no guarantee of future results. You should make a decision about a purchase not before the submission of all documents and information on risks and the prior law, tax and investment advice. All data are subject to change. All information without engagement. The units of this fund that are issued may only be sold or offered for sale in jurisdictions in which such offer or sale is permitted. Therefore the units of this fund or sub-fund may not be offered for sale or sold in the USA, or offered for sale or sold to or for the account of US citizens or US persons resident in the USA. The documents and the information may not be distributed in the USA. The distribution and publication of the documents and the information and the offer or sale of units may also be subject to restrictions in other jurisdictions. GANÉ Aktiengesellschaft accepts no liability for loss or damages of any kind from access to its published information. The notices are governed by the law of the Federal Republic of Germany. Investment advice pursuant to Section 1 (1a) No. 1 a of the German Banking Act ("KWG") and investment brokerage pursuant to Section 1 (1a) No. 1 KWG are provided on behalf of, in the name of and for account of and under the liability of BN & Partners Capital AG, Steinstraße 33, 50374 Erftstadt, pursuant to Section 2 (10) KWG. BN & Partners Capital AG holds a corresponding authorisation from the Federal Financial Supervisory Authority (BaFin) for the aforementioned financial services in accordance with Section 32 KWG.

- END -

You can find detailed information at www.gane.de

   
Contact: Press contact:
GANÉ Aktiengesellschaft
Dr Uwe Rathausky
J. Henrik Muhle
E-mail: kontakt@gane.de
Weißenburger Straße 36
63739 Aschaffenburg
Headquarters: Aschaffenburg
Commercial court: Aschaffenburg HRB 10188
Management: Dr Uwe Rathausky, J. Henrik Muhle
Chairman of the Supervisory Board: Achim Josefy
KERL und CIE
Dirk Ulmer
E-mail: d.ulmer@kerlundcie.de
Tel.: +49 (0)69 870021 519
Hamburger Allee 45
60486 Frankfurt am Main


21.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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1133991  21.09.2020 

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