Lloyd Fonds Aktiengesellschaft: Supervisory Board commencing negotiations concerning the premature exit of the Chief Executive Officer; strain on earnings for 2017 as a result
On December 10, 2017, the Supervisory Board of Lloyd Fonds AG, Hamburg, adopted a resolution to commence negotiations with the Company's Chief Executive Officer, Dr. Torsten Teichert, concerning the premature termination of his activities on the Management Board. This is due to differences of opinion on operating and strategic matters among other things. The parties are striving for an amicable termination effective December 31, 2017 of Dr. Teichert's service contract, which ordinarily expires on June 30, 2019. As the earnings for 2017 will be reduced by a sum in the mid to high six digits as a result of this, the earnings guidance of around EUR 2 million will now probably not be achieved.
After Dr. Teichert's exit, his duties will be performed by Klaus M. Pinter, the other member of the Management Board.
Dr. Thomas Duhnkrack, hitherto deputy chairman of the Supervisory Board, has informed the Supervisory Board that he will be stepping down from this office.Contact: Susanne Maack Capital Markets / PR Lloyd Fonds AG Amelungstraße 8-10 20354 Hamburg Tel: +49-40-325678-132 Fax: +49-40-325678-99 Mail: email@example.com
12-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Lloyd Fonds Aktiengesellschaft Amelungstr. 8-10 20354 Hamburg
Germany Phone: +49 (0)40 32 56 78-0 Fax: +49 (0)40 32 56 78-99 E-mail: firstname.lastname@example.org Internet: www.lloydfonds.de ISIN: DE000A12UP29 WKN: A12UP2 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
638385 12-Dec-2017 CET/CEST