• New Authorized Capital 2019 approved
• New Supervisory Board member Francesco Filia, CEO of Fasanara Capital Ltd.

Hamburg, 29 August 2019 - The shareholders of Varengold Bank AG approved all agenda items at the annual general meeting in Hamburg yesterday. This included granting discharge to the Board of Managing Directors and the Supervisory Board members for the fiscal year 2018, as well as the selection of the auditing firm PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Hamburg, as auditor for the fiscal year 2019. In addition, a new Authorised Capital 2019 was approved with a majority of 99.99%.
Furthermore, the candidates Dr. Karl-Heinz Lemnitzer, Mr Vasil Stefanov and Mr Francesco Filia were elected to the Supervisory Board for a term of 4 years. While Dr. Lemnitzer and Mr. Stefanov were re-elected, Mr. Filia joined the Board as a new member.
"We are delighted to welcome Francesco Filia to the Supervisory Board. As CEO of London-based Fasanara Capital Ltd., he has special insights into the marketplace lending business, which is the focus of Varengold's business strategy. His expertise will undoubtedly prove invaluable to our further development", said Board member Dr. Bernhard Fuhrmann.
In its yesterday's constitutive Supervisory Board meeting, the Supervisory Board also elected among its members Dr. Lemnitzer as Chairman of the Supervisory Board and Mr. Stefanov as his deputy.

About Varengold Bank AG

Varengold Bank AG is a German bank founded in 1995, which acquired its full banking license in 2013. It is headquartered in Hamburg, with additional branches in London and Sofia. Its core business areas are Marketplace Banking and Transaction Banking (Commercial Banking), and it focuses on cooperating with European fintechs, particularly lending platforms. The product range it offers includes funding, debt and equity capital markets products, fronting services for products subject to banking license requirements and international payment services.
The Board of Managing Directors is composed of Dr. Bernhard Fuhrmann and Frank Otten, who continuously do their part in modernizing the financial sector along with a 70-strong international team. Varengold Bank is registered with the Federal Financial Supervisory Authority (BaFin) under 109 520 and the Varengold share (ISIN:DE0005479307) has been listed on the Open Market of the Frankfurt Stock Exchange since 2007. For more information, see .


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)