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PRESS RELEASE: Varengold Bank AG: 727,381 new shares issued

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DGAP-News: Varengold Bank AG / Key word(s): Capital Increase/Miscellaneous
Varengold Bank AG: 727,381 new shares issued

2020-02-19 / 15:52
The issuer is solely responsible for the content of this announcement.

*Hamburg, 19th February 2020* - Varengold Bank AG has carried out a capital
increase under exclusion of subscription rights for existing shareholders by
using the existing authorized capital.

The company's share capital was increased from EUR 9,315,634.00 against cash
contributions by EUR 727,381.00 to EUR 10,043,015.00 by issuing 727,381 new
shares. All shares were placed at an issue price of EUR 3.85 per share. The
Management Board has succeeded in acquiring other institutional investors in
addition to existing investors. With the strengthening of the capital base,
Varengold Bank is still on a growth path and the new funds will be partly
used to refinance credit platforms in the area of marketplace banking.

The capital increase was entered in the commercial register on 17 February
2020.

*Disclaimer*

This release contains forward-looking statements that involve certain risks
and uncertainties. Future results may differ materially from those currently
anticipated due to various risk factors and uncertainties, such as changes
in business, economic and competitive conditions, currency exchange rate
fluctuations, litigation uncertainties or investigations, and availability
of financial resources. Varengold Bank AG assumes no responsibility for
updating the forward-looking statements contained in this release.

Contact:
Ms. Sanja Schultz-Szabo (Head of Corporate Development)

2020-02-19 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.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Varengold Bank AG
Große Elbstraße 14
22767 Hamburg
Germany
Phone: +49 (0)40 / 668649-0
Fax: +49 (0)40 / 668649-49
E-mail: investorrelations@varengold.de
Internet: www.varengold.de
ISIN: DE0005479307
WKN: 547930
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt
(Basic Board), Munich, Stuttgart
EQS News ID: 979291

End of News DGAP News Service

979291 2020-02-19



(END) Dow Jones Newswires

February 19, 2020 09:52 ET ( 14:52 GMT)
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