Deutsche Börse AG: Payment of fines in the amount of EUR 10.5 million
Today, the Supervisory Board and the Executive Board of the Company decided to accept the fine notice of the responsible local court (Amtsgericht) announced by the Public Prosecutor of Frankfurt/Main in relation to the accusations of an alleged violation of the prohibition against insider trading in December 2015 as well as the alleged failure to publish an ad-hoc-announcement in January 2016. This notice imposes fines against the Company in the total amount of EUR 10.5 million under separate proceedings pursuant to section 30 para. 4 sentence 1 of the German Regulatory Offence Act (Ordnungswidrigkeitengesetz).
The Company, also after consultation of experts, continues to believe the allegations are unfounded in all respects. However, after thorough examination and due consideration of all relevant elements, the Executive Board and the Supervisory Board of the Company have decided, that a quick, consensual termination of the investigation proceedings against the Chairman of the Executive Board, in which the Company would be formally involved, is in the best interest of the Company and therefore further serious burdens caused by the investigation can be avoided.
The Deutsche Börse AG assumes that the current investigation proceedings against the Chairman of the Executive Board of Deutsche Börse AG, Carsten Kengeter, will be closed subject to conditions with approval by the responsible local court (Amtsgericht).
The Supervisory Board will only decide on the prolongation of Mr Kengeter's employment contract, which expires in March 2018, after the termination of the Public Prosecutor's investigation proceedings and after the termination of the proceedings for reliability examination of the Federal Financial Supervisory Authority and the Hessian Exchange Supervisory Authority.
Deutsche Börse AG
Phone: +49 69 211 1 29 01
Deutsche Börse AG
Phone: +49 69 211 1 86 73
13-Sep-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de