Weng Fine Art AG

DGAP-News: Weng Fine Art AG / Key word(s): Share Buyback/Miscellaneous
2015-02-05 / 08:40

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PRESS RELEASE | 5 FEBRUARY 2015

Extended Lock-up of the Founder and favourable Buybacks reduce the amount of Weng Fine Art AG shares in circulation

- Holding company of CEO Rüdiger K. Weng extends to 150,000 shares
- Treasury Stock expanded to 130,000 shares through favourable     re-purchases

Rüdiger K. Weng, Founder and CEO of Weng Fine Art AG (WFA), extended the voluntary lock-up commit-ment for his shares in the art trading company listed on the Entry Standard of the Frankfurt Stock Ex-change. According to the contracts published by the Company and WGZ BANK, the designated sponsor and capital markets partner, an additional 150,000 WFA-shares from the holding of RKW Art + Asset Management GmbH will be locked from sale until January 31, 2016. Thus, the lock-up now extends to a total of 1.8 million WFA shares, which in the next 12 months cannot be sold neither via the stock ex-change nor aside from it.

Furthermore, the Free Float was also reduced through share buy-backs: Since October 1, 2014, WFA was able to re-purchase 75,000 of its shares at an average price of EUR 6.98, thereby contributing to the treasury stock totalling 130,000 shares now. Provided that more blocks of WFA-shares are offered at at-tractive prices, the Company will increase the treasury stock to 150,000 shares until the scheduled end of the current share repurchase programme on June 30, 2015. The share buy-back will not affect the very comfortable liquidity position of Weng Fine Art AG.
ABOUT WENG FINE ART AG

Weng Fine Art AG (www.wengfineart.com), with subsidiaries in Germany and Switzerland, is a leading in-ternationally operating art dealing and art service company. The founder-led company combines a long-term expertise in the art market with economic know-how. Other factors of success are the large invento-ry of artworks of the 20 and 21st century as well as the access to attractive funding. In addition to the traditional art dealing activities the company targets a leading role in the art e-commerce. Market know-how, the lack of competition and the comprehensive company-owned stock of high quality artworks will be the key to success of WFA Online AG in this segment. The shares of Weng Fine Art AG are listed in the Entry Standard of the Frankfurt stock exchange.

CONTACT

Weng Fine Art AG
Kimplerstrasse 294 | 47807 Krefeld | Germany
Phone +49 (0)2151 937130 | Fax +49 (0)2151 93713-29 E-mail rkweng@wengfineart.com



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2015-02-05 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English Company: Weng Fine Art AG Kimplerstraße 294 47807 Krefeld Germany Phone: 02151 937130 Fax: 02151 93713-29 E-mail: art@wengfineart.com Internet: www.wengfineart.com ISIN: DE0005181606 WKN: 518160 Listed: Freiverkehr in Berlin; Frankfurt in Open Market (Entry Standard)  
 
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