DGAP-News: GRENKE AG: GRENKE rejects Viceroy's accusations as unfounded

GRENKE rejects Viceroy's accusations as unfounded

Baden-Baden, September 15, 2020: GRENKE AG, a global financing partner for small and medium-sized enterprises, is the subject of a report published today by Viceroy Research, a platform founded by the short-selling investor Fraser Perring. This report contains allegations which GRENKE strongly rejects.

A central accusation is that a substantial portion of the EUR 1,078 million in cash and cash equivalents reported in the 2020 half-year financial report does not exist. This is demonstrably false. EUR 849 million, which is almost 80% of the cash and cash equivalents, were held in Deutsche Bundesbank accounts on June 30, 2020 as published in the 2020 half-year financial report. As of today, the credit balance at the Bundesbank amounts to EUR 761 million.

In addition, the 64-page report contains numerous other unfounded allegations. GRENKE AG is currently also preparing a detailed reply to these accusations and will respond to them.

GRENKE reserves the right to take legal action and will initiate such action accordingly.

For further information, please contact:

GRENKE AG
Team Investor Relations

Neuer Markt 2
76532 Baden-Baden
Phone: +49 7221 5007-204
Email: [email protected]
Website: www.grenke.de

About GRENKE

The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.

Founded in 1978 in Baden-Baden, the Company operates in 33 countries and employs more than 1,700 staff worldwide. GRENKE shares are listed in the MDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).

Further information about GRENKE and its products is available at www.grenke-group.com.