Varengold Bank AG: Voting results of the ordinary general meeting

Varengold Bank AG  / Key word(s): AGM/EGM/Miscellaneous28.08.2015 13:30Dissemination of a Corporate News, transmitted by DGAP - a service of EQSGroup AG.The issuer / publisher is solely responsible for the content of this announcement.---------------------------------------------------------------------------Hamburg, 28th August 2015 - The stockholders of Varengold Bank AG (WKN547930) approved all agenda items of the ordinary general meeting lastWednesday in Hamburg. This included granting the discharge of the Board ofManaging Directors and the Supervisory Board members for the fiscal year2014 with a clear majority, as well as the selection of the auditing firmPricewaterhouseCooper Aktiengesellschaft as auditor for the fiscal year2015. In addition, new authorised capital for 2015 was passed, as well asthe authorization to acquire treasury shares pursuant to § 71 Para. 1 No. 7and No. 8 AktG (Stock Corporation Act). Furthermore, the candidates SanjayShah, Michael Stephen Murphy and Edo Barac were elected with a majority of99.99% to members of the Supervisory Board for a term of almost 4 years.Upon shareholder request in the run-up to the general meeting, pursuant to§§ 122 Para. 2, 124 Para. 1 AktG, the agenda was expanded by one resolutionconcerning a capital increase against cash contributions with the grant ofsubscription rights, which was passed by the general meeting.During the general meeting, the Board of Managing Directors presented theparticipants a short look back at the year 2014 and the first half of theyear 2015, as well as their highlights. They pointed out the furtherdevelopment of the full-service bank infrastructure and its accompanyingexpenses, commented on strengthening the base capital through the emissionof CoCo bonds to the amount of 5 million EUR, and highlighted thesignificant earnings increase in the area of capital markets brokerage, aswell as the growth of product and client portfolios in the capital marketsand commercial banking divisions. During the general debate which followed,other main topics were the change of shareholder structure in the summer of2014, as well as the amicable resignation of the Board of ManagingDirectors members Yasin S. Qureshi, Steffen Fix and Mohammad H. Dastmaltchion 31 July 2015, which was accompanied by a severance payment totallingabout 3.9 million EUR. The previous Supervisory Board members RA Hans J.M.Manteuffel, Prof. Dr. h.c. Peter Andree and StB Willi Mueller explainedthat the motivations behind each of them leaving the company after manyyears of teamwork following the past general meeting were of a personalnature. After the general meeting, the Board of Managing Directors thankedthe three gentlemen for their extraordinary commitment, which supportedVarengold on its way being the internationally represented bank that it istoday.28.08.2015 The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      Varengold Bank AG              Große Elbstraße 27              22767 Hamburg              GermanyPhone:        +49 (0)40 / 668649-0Fax:          +49 (0)40 / 668649-49E-mail:       info@varengold.deInternet:     www.varengold.deISIN:         DE0005479307WKN:          547930Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart;              Open Market (Entry Standard) in Frankfurt End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------